Fostoria, Kansas Property Taxes
The median property tax rate in Fostoria, KS is 0.54%, significantly lower than both the national median of 0.99% and the Kansas state median of 1.43%. With a median home value of $25,045 in Fostoria, the typical annual property tax bill is just $135, well below the national median of $2,690. Property taxes in Fostoria are calculated based on the tax assessed value, which is often lower than the market value due to various exemptions, such as those for primary residences and agricultural properties. Understanding Fostoria's property tax system, exploring available exemptions, and identifying opportunities for reductions can lead to substantial annual savings. Whether you're in the heart of Fostoria or another part of the city, gaining insight into the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Fostoria, Kansas Property Tax Bill Calculator
$100,000
$2,500,000
$5,000,000
Average Tax Rate
1.43%
Estimate Property Tax Bill
$2,860
Ownwell’s Fostoria Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Fostoria with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Fostoria 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 Fostoria, Kansas
Property taxes in Fostoria, Kansas, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Fostoria is 1.35%, significantly higher than both the Kansas state median of 1.29% and the U.S. national median of 0.99%. Local government entities within Fostoria set these rates annually, and they can vary significantly across different neighborhoods. Each year, Fostoria 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 Fostoria's effective property tax rate to other counties in Kansas and the national median. For comparison, the 66426 zip code has the highest median property tax rate of 1.35%, while the same 66426 zip code also has the lowest median tax rate of 1.35%. Understanding how these cities compare with Fostoria provides valuable insights into the varying tax landscape across Pottawatomie County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Fostoria Tax Rate
0.54%
Average Pottawatomie County Tax Rate
1.01%
Average Kansas Tax Rate
1.43%
Average United States Tax Rate
0.99%
Property Tax Rates Across Fostoria, Kansas
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 66426 | 0.29% | 0.43% | 0.54% | 0.61% | 0.68% |
Source: Ownwell
Property Tax Assessment Values Across Fostoria, Kansas
In Fostoria, 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 Pottawatomie 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 Fostoria, 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. The median home price in Fostoria is $25,045, with tax bills ranging from $101 at the 25th percentile to $221 at the 90th percentile. The zip code with the highest and lowest median tax bill is 66426, both at $135. Being aware of these valuation processes in Fostoria helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Fostoria Assessed Value
$25,045
Average Pottawatomie County Assessed Value
$216,600
Average Kansas Assessed Value
$156,260
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Fostoria, Kansas
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 66426 | $11,262 | $18,705 | $25,045 | $29,208 | $32,731 |
Source: Ownwell
Property Tax Bills Across Fostoria, Kansas
In Fostoria, property tax bills are calculated based on the assessed value of a home, which is determined by the local assessor's office. The assessed value is a percentage of the home's market value, often influenced by factors such as property size, location, and condition. Homeowners in Fostoria should expect their property tax bills to vary within a certain range. For example, the 25th percentile tax bill is around $101, while the 75th percentile tax bill reaches approximately $169. At the higher end, the 90th percentile tax bill is about $221. Comparatively, the national median property tax rate is 0.99%, but local rates in Fostoria are tailored to meet community needs and budgetary requirements. These property taxes fund essential services like public schools, emergency services, and infrastructure maintenance. For homeowners, understanding how these taxes are calculated can help in financial planning and ensuring they are prepared for their annual tax obligations.
Average Fostoria Tax Bill
$135
Average Pottawatomie County Tax Bill
$2,156
Average Kansas Tax Bill
$2,595
Average United States Tax Bill
$2,690
Property Tax Bills Across Fostoria, Kansas
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 66426 | $48 | $101 | $135 | $169 | $221 |
Source: Ownwell