Riley, Riley County, Kansas Property Taxes
The median property tax rate in Riley, KS is 1.67%, considerably higher than both the national median of 0.99% and the Kansas state median of 1.43%. With the median home value in Riley, the typical annual property tax bill reaches $2,556, slightly below the national median of $2,690. Property taxes in Riley 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 Riley'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 Riley 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
Riley, Riley County, Kansas Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.67%
Estimate Property Tax Bill
$2,633
$2,443
Ownwell’s Riley Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Riley with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Riley 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 Riley, Riley County, Kansas
Property taxes in Riley, Kansas, are crucial in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Riley is 1.67%, significantly higher than the U.S. national median of 0.99%. Local government entities within Riley set these rates annually, and they can vary significantly across different neighborhoods. Each year, Riley 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 Riley's effective property tax rate to other counties in Kansas and the national median. For comparison, the 66531 zip code has the highest median property tax rate of 1.67%, while the same zip code also has the lowest median tax rate of 1.67%. Understanding how these cities compare with Riley 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 Riley Tax Rate
1.67%
Average Riley County Tax Rate
1.57%
Average Kansas Tax Rate
1.43%
Average United States Tax Rate
0.99%
Property Tax Rates Across Riley, Riley County, Kansas
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 66531 | 1.22% | 1.47% | 1.67% | 1.70% | 2.05% |
Source: Ownwell
Property Tax Assessment Values Across Riley, Riley County, Kansas
Understanding the difference between "market value" and "assessed value" is crucial for comprehending property taxes in Riley, Kansas. 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. 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, in Riley, the highest median tax bill is $2,556 in the 66531 zip code, while the lowest median tax bill is also $2,556 in the same zip code. Awareness of these valuation processes helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Property Tax Assessment Values Across Riley, Riley County, Kansas
Source: Ownwell
$53,970
$174,165
$294,360
Average Riley Assessed Value
$157,635
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 Riley, Riley County, Kansas
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 66531 | $52,980 | $101,038 | $157,635 | $211,322 | $278,190 |
Source: Ownwell
Property Tax Bills Across Riley, Riley County, Kansas
In Riley, KS, property tax bills are calculated based on the assessed value of a home and the applicable tax rate. The assessed value is determined by the local tax assessor, who evaluates the property's market value and then applies an assessment ratio. Homeowners in Riley face a median home price of $157,635, and the property tax rate is applied to this assessed value to determine the annual tax bill. Factors influencing the tax bill include the property's market value, any applicable exemptions, and the specific tax rate set by local taxing authorities. Homeowners might see tax bills ranging from $1,618 at the 25th percentile to $4,634 at the 90th percentile. The highest median tax bill in the area is $2,556, which is notably higher than the national median property tax rate of 0.99%. These property taxes fund essential public services such as schools, infrastructure, and emergency services, impacting the overall quality of life for residents. Accurate assessments and fair tax rates are crucial for maintaining a balanced and equitable tax system in Riley.
Average Riley Tax Bill
$2,556
Average Riley County Tax Bill
$3,525
Average Kansas Tax Bill
$2,595
Average United States Tax Bill
$2,690
Property Tax Bills Across Riley, Riley County, Kansas
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 66531 | $893 | $1,618 | $2,556 | $3,442 | $4,634 |
Source: Ownwell