Olsburg, Kansas Property Taxes
The median property tax rate in Olsburg, KS is 0.99%, aligning with the national median of 0.99% but still lower than the Kansas state median of 1.43%. With the median home value in Olsburg at $141,190, the typical annual property tax bill reaches $1,424, which is below the national median of $2,690. Property taxes in Olsburg are calculated based on the tax assessed value, which often falls below the market value due to various exemptions like the primary residence and agricultural exemptions. Understanding Olsburg'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 Olsburg 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
Olsburg, Kansas Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.99%
Estimate Property Tax Bill
$1,398
$1,297
Ownwell’s Olsburg Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Olsburg with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Olsburg 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 Olsburg, Kansas
Property taxes in Olsburg, Kansas, are vital in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Olsburg is 0.99%, aligning with both the Kansas state median and the U.S. national median of 0.99%. Local government entities within Olsburg set these rates annually, and they can vary significantly across different neighborhoods. Each year, Olsburg 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 Olsburg's effective property tax rate to other counties in Kansas and the national median. For comparison, the 66520 zip code has both the highest and lowest median property tax rate of 0.99%. Understanding how these cities compare with Olsburg 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 Olsburg Tax Rate
0.99%
Average Pottawatomie County Tax Rate
1.01%
Average Kansas Tax Rate
1.43%
Average United States Tax Rate
0.99%
Property Tax Rates Across Olsburg, Kansas
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 66520 | 0.75% | 0.92% | 0.99% | 1.16% | 1.49% |
Source: Ownwell
Property Tax Assessment Values Across Olsburg, Kansas
In Olsburg, 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 Olsburg, 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. The median home price in Olsburg is $141,190, with tax bills ranging from $820 at the 25th percentile to $3,670 at the 90th percentile. The highest and lowest median tax bills in the 66520 zip code are both $1,424. By understanding these valuation concepts, property owners can better navigate their tax responsibilities and identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Olsburg Assessed Value
$141,190
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 Olsburg, Kansas
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 66520 | $40,930 | $90,440 | $141,190 | $227,908 | $313,430 |
Source: Ownwell
Property Tax Bills Across Olsburg, Kansas
In Olsburg, located in Pottawatomie County, KS, property tax bills are determined by several key factors. The primary factor is the assessed value of the property, which is derived from the market value. For instance, with a median home price of $141,190, the assessed value plays a pivotal role in calculating the tax bill. The tax rate in this area is applied to the assessed value to determine the final tax amount. Homeowners in Olsburg can expect a wide range of tax bills. At the 25th percentile, property tax bills are around $820, while at the 75th percentile, they can reach up to $2,490. For those at the 90th percentile, the tax bill can be as high as $3,670. This variation is influenced by property values and the specific tax rate applied by the county. Compared to the national median property tax rate of 0.99%, Olsburg's tax bills reflect the local economic conditions and property values. These taxes significantly impact homeowners, influencing their overall cost of living and financial planning.
Average Olsburg Tax Bill
$1,424
Average Pottawatomie County Tax Bill
$2,156
Average Kansas Tax Bill
$2,595
Average United States Tax Bill
$2,690
Property Tax Bills Across Olsburg, Kansas
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 66520 | $364 | $820 | $1,424 | $2,490 | $3,670 |
Source: Ownwell