Wamego, Kansas Property Taxes
The median property tax rate in Wamego, KS is 1.12%, slightly above the national median of 0.99% but lower than the Kansas state median of 1.43%. With a median home value of $221,890 in Wamego, the typical annual property tax bill amounts to $2,380, which is below the national median of $2,690. Property taxes in Wamego are calculated based on the tax assessed value, which is often less than the market value due to various exemptions such as those for primary residences and agricultural properties. Gaining a thorough understanding of Wamego's property tax system, exploring available exemptions, and identifying opportunities for reductions can result in significant annual savings. Whether you reside in the heart of Wamego or elsewhere in the city, comprehending the local property tax system is advantageous for both homeowners and real estate investors.
Last Updated June 14, 2024
Wamego, Kansas Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.12%
Estimate Property Tax Bill
$2,485
Ownwell’s Wamego Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Wamego with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Wamego 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 Wamego, Kansas
Property taxes in Wamego, Kansas, are crucial for funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Wamego is 1.12%, higher than both the Kansas state median and the U.S. national median of 0.99%. Local government entities within Wamego set these rates annually, and they can vary significantly across different neighborhoods. Each year, Wamego 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 Wamego's effective property tax rate to other counties in Kansas and the national median. For comparison, the 66547 zip code has the highest median property tax rate of 1.12%, while the same zip code also has the lowest median tax rate of 1.12%. Understanding how these cities compare with Wamego 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 Wamego Tax Rate
1.12%
Average Pottawatomie County Tax Rate
1.01%
Average Kansas Tax Rate
1.43%
Average United States Tax Rate
0.99%
Property Tax Rates Across Wamego, Kansas
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 66547 | 0.85% | 0.92% | 1.12% | 1.18% | 1.30% |
Source: Ownwell
Property Tax Assessment Values Across Wamego, Kansas
In Wamego, 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 Wamego, 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. Being aware of these valuation processes in Wamego helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The highest median tax bill in Wamego is $2380 in the 66547 zip code, which is also the lowest.
Average Wamego Assessed Value
$221,890
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 Wamego, Kansas
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 66547 | $106,529 | $162,448 | $221,890 | $322,618 | $428,572 |
Source: Ownwell
Property Tax Bills Across Wamego, Kansas
In Wamego, Pottawatomie County, KS, property tax bills are calculated based on the assessed value of a home, which is determined by the county assessor. The assessed value typically represents a percentage of the property's market value. Once the assessed value is established, local tax rates, known as mill levies, are applied to calculate the final tax bill. Several factors influence the tax bill, including the home's assessed value, local tax rates, and any applicable exemptions or deductions. For instance, the median home price in Wamego is $221,890. Homeowners in the 25th percentile can expect a tax bill around $1,766, while those in the 75th percentile might see a bill closer to $3,247. At the 90th percentile, the tax bill could reach approximately $4,390. Comparatively, the national median property tax rate is 0.99%, making it essential for homeowners in Wamego to understand these local nuances. Higher property taxes can impact household budgets, making it crucial for homeowners to stay informed and potentially seek exemptions to reduce their tax burden.
Average Wamego Tax Bill
$2,380
Average Pottawatomie County Tax Bill
$2,156
Average Kansas Tax Bill
$2,595
Average United States Tax Bill
$2,690
Property Tax Bills Across Wamego, Kansas
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 66547 | $1,115 | $1,766 | $2,380 | $3,247 | $4,390 |
Source: Ownwell