Randolph, Kansas Property Taxes
The median property tax rate in Randolph, KS is 1.25%, considerably higher than both the national median of 0.99% and the Kansas state median of 1.43%. With the median home value in Randolph, the typical annual property tax bill reaches $2,006, exceeding the national median of $2,690. Property taxes in Randolph 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 Randolph'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 Randolph 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
Randolph, Kansas Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.25%
Estimate Property Tax Bill
$1,908
Ownwell’s Randolph Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Randolph with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Randolph 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 Randolph, Kansas
Property taxes in Randolph, Kansas, are essential in funding crucial local services such as public schools, road maintenance, and emergency services. The median tax rate in Randolph is 1.25%, significantly higher than the U.S. national median of 0.99%. Local government entities within Randolph set these rates annually, and they can vary significantly across different neighborhoods. Each year, Randolph 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. For comparison, the 66554 zip code has the highest median property tax rate of 1.25%, while the same zip code also has the lowest median tax rate of 1.25%. Understanding how these cities compare with Randolph provides valuable insights into the varying tax landscape across Riley County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Randolph Tax Rate
1.25%
Average Riley County Tax Rate
1.57%
Average Kansas Tax Rate
1.43%
Average United States Tax Rate
0.99%
Property Tax Rates Across Randolph, Kansas
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 66554 | 1.12% | 1.19% | 1.25% | 1.40% | 2.05% |
Source: Ownwell
Property Tax Assessment Values Across Randolph, Kansas
In Randolph, 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 Riley 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 Randolph, 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 Randolph helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The highest median tax bill in Randolph is $2,006 in the 66554 zip code, while the lowest median tax bill is also $2,006 in the same zip code.
Average Randolph Assessed Value
$152,610
Average Riley County Assessed Value
$217,800
Average Kansas Assessed Value
$156,260
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Randolph, Kansas
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 66554 | $25,930 | $88,490 | $152,610 | $233,660 | $309,808 |
Source: Ownwell
Property Tax Bills Across Randolph, Kansas
In Randolph, located in Riley County, KS, property tax bills are calculated based on the assessed value of a home, which is a percentage of its market value. The assessed value is then multiplied by the local tax rate to determine the property tax owed. For example, with a median home price of $152,610, the tax bill can vary significantly. At the 25th percentile, homeowners might pay around $1,209, while at the 75th percentile, the bill could rise to $3,440. In some cases, it can even reach up to $4,528 at the 90th percentile. These figures highlight the variability in tax bills, influenced by factors such as property value, local tax rates, and any applicable exemptions. Understanding these elements is crucial for homeowners, as they directly impact annual expenses. Compared to the national median property tax rate of 0.99%, the rates in Randolph can result in higher or lower tax bills depending on the specific assessed values and local tax policies.
Average Randolph Tax Bill
$2,006
Average Riley County Tax Bill
$3,525
Average Kansas Tax Bill
$2,595
Average United States Tax Bill
$2,690
Property Tax Bills Across Randolph, Kansas
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 66554 | $374 | $1,209 | $2,006 | $3,440 | $4,528 |
Source: Ownwell