Waterville, Kansas Property Taxes
The median property tax rate in Waterville, KS is 1.74%, considerably higher than both the national median of 0.99% and the Kansas state median of 1.43%. With the median home value in Waterville at $89,770, the typical annual property tax bill reaches $1,424, exceeding the national median of $2,690. Property taxes in Waterville are calculated based on the tax assessed value, which typically falls below the market value due to various exemptions like the primary residence and agricultural exemptions. Understanding Waterville's property tax system, exploring available exemptions, and identifying opportunities for reductions can lead to significant annual savings. Whether you're in the heart of Waterville or another part of the city, understanding the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Waterville, Kansas Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.74%
Estimate Property Tax Bill
$1,562
$1,449
Ownwell’s Waterville Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Waterville with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Waterville to estimate your property tax bill. This insightful tool helps you understand potential tax liabilities. If you’re interested in seeing trends on a neighborhood level, scroll down to find more localized information. Your property’s assessed value is the value assigned by the county for property tax calculations, accounting for any exemptions that may apply.
Property Tax Rates Across Waterville, Kansas
Property taxes in Waterville, Kansas, are crucial for funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Waterville is 1.74%, significantly higher than the U.S. national median of 0.99%. Local government entities within Waterville set these rates annually, and they can vary significantly across different neighborhoods. Each year, Waterville estimates its required budget to maintain services for the upcoming fiscal year, then divides this budget by the total value of all taxable property within the jurisdiction to calculate the property tax rate. While tax rates and budgets are influenced by laws and voter input, this calculation forms the basis of setting property tax rates. The data below compares Waterville's effective property tax rate to other counties in Kansas and the national median. For comparison, the 66548 zip code has the highest median property tax rate of 1.74%, while also having the lowest median tax rate of 1.74%. Understanding how these cities compare with Waterville provides valuable insights into the varying tax landscape across Marshall County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Waterville Tax Rate
1.74%
Average Marshall County Tax Rate
1.65%
Average Kansas Tax Rate
1.43%
Average United States Tax Rate
0.99%
Property Tax Rates Across Waterville, Kansas
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 66548 | 1.10% | 1.43% | 1.74% | 1.94% | 2.23% |
Source: Ownwell
Property Tax Assessment Values Across Waterville, Kansas
In Waterville, Kansas, understanding the difference between "market value" and "assessed value" is crucial for comprehending property taxes. The market value is the price a willing buyer would pay a willing seller in an open and competitive market, influenced by factors like location, property condition, and economic trends. This value is estimated by the Marshall County Appraisal District for tax purposes. In contrast, the assessed value is the market value minus any applicable exemptions or limits based on local laws and available programs. The assessed value is then used to calculate your property taxes by multiplying it by the combined tax rates of all relevant taxing entities. In Waterville, assessment notices are typically mailed out in the spring, usually by mid-April. These notices provide homeowners with both the market and assessed values, along with an estimate of the annual property tax bill. By understanding the distinction between these valuation concepts, property owners can better navigate their tax responsibilities and comprehend how their property taxes are determined. For instance, the highest median tax bill in Waterville is $1,424 in the zip code 66548, which contrasts with the national median property tax rate of 0.99%. Being aware of these valuation processes helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Waterville Assessed Value
$89,770
Average Marshall County Assessed Value
$92,000
Average Kansas Assessed Value
$156,260
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Waterville, Kansas
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 66548 | $29,393 | $55,000 | $89,770 | $135,025 | $199,747 |
Source: Ownwell
Property Tax Bills Across Waterville, Kansas
In Waterville, KS, property tax bills are calculated based on the assessed value of a home, which is a percentage of its market value. The median home price in Waterville is $89,770. Homeowners then apply the local property tax rate to this assessed value to determine their tax bill. For example, the tax bill for the 25th percentile is $825, while those in the 75th percentile pay around $2,172. At the higher end, the 90th percentile tax bill reaches $3,427. Factors influencing the tax bill include the property’s location within Marshall County and any applicable exemptions or deductions. Compared to the national median property tax rate of 0.99%, Waterville's property tax rates can significantly impact homeowners, especially those with higher-value properties. Understanding these factors can help homeowners anticipate their annual tax obligations and plan accordingly.
Average Waterville Tax Bill
$1,424
Average Marshall County Tax Bill
$1,429
Average Kansas Tax Bill
$2,595
Average United States Tax Bill
$2,690
Property Tax Bills Across Waterville, Kansas
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 66548 | $483 | $825 | $1,424 | $2,172 | $3,427 |
Source: Ownwell