Mount Hope, Kansas Property Taxes
The median property tax rate in Mount Hope, KS is 1.63%, considerably higher than both the national median of 0.99% and the Kansas state median of 1.43%. With the median home value in Mount Hope at $109,400, the typical annual property tax bill reaches $1,713, exceeding the national median of $2,690. Property taxes in Mount Hope 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 Mount Hope'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 Mount Hope 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
Mount Hope, 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 Mount Hope Property Tax Bill Calculator assists homeowners, real estate investors, and potential buyers in estimating their annual property taxes in Mount Hope with just two data points. By inputting your property's estimated assessed value, the calculator applies the median tax rate in Mount Hope to provide an estimate of your property tax bill. This valuable tool helps you grasp potential tax liabilities. For those interested in seeing trends at a neighborhood level, further localized information is available below. Your property’s assessed value is the value assigned by the county for property tax calculations, considering any applicable exemptions.
Property Tax Rates Across Mount Hope, Kansas
Property taxes in Mount Hope, Kansas, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Mount Hope is 1.63%, significantly higher than both the Kansas state median and the U.S. national median of 0.99%. Local government entities within Mount Hope set these rates annually, and they can vary significantly across different neighborhoods. Each year, Mount Hope 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 Mount Hope's effective property tax rate to other counties in Kansas and the national median. For comparison, the 67108 zip code has the highest median property tax rate of 1.63%, while the same zip code also has the lowest median tax rate of 1.63%. Understanding how these cities compare with Mount Hope provides valuable insights into the varying tax landscape across Sedgwick County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Mount Hope Tax Rate
1.63%
Average Sedgwick County Tax Rate
1.29%
Average Kansas Tax Rate
1.43%
Average United States Tax Rate
0.99%
Property Tax Rates Across Mount Hope, Kansas
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 67108 | 1.16% | 1.52% | 1.63% | 1.66% | 1.68% |
Source: Ownwell
Property Tax Assessment Values Across Mount Hope, Kansas
In Mount Hope, 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 Sedgwick 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 Mount Hope, 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 Mount Hope helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. Notably, the zip code 67108 has the highest and lowest median tax bill at $1,713, reflecting the local property tax dynamics.
Average Mount Hope Assessed Value
$109,400
Average Sedgwick County Assessed Value
$135,800
Average Kansas Assessed Value
$156,260
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Mount Hope, Kansas
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 67108 | $42,004 | $74,100 | $109,400 | $168,960 | $252,640 |
Source: Ownwell
Property Tax Bills Across Mount Hope, Kansas
In Mount Hope, KS, property tax bills are calculated based on the assessed value of a home, which is a percentage of its market value. The median home price in Mount Hope is $109,400. Property taxes are then determined by applying the local tax rate to this assessed value. For instance, homeowners in the 25th percentile pay around $1,109 annually, while those in the 75th percentile pay approximately $2,613. At the 90th percentile, the tax bill can reach up to $3,549. These figures highlight the variability in property tax bills depending on the home's value and the specific tax rate applied. Factors such as changes in the market value of homes and local government budgets can influence the assessed value and, consequently, the tax bill. For homeowners, these taxes fund essential public services like schools, roads, and emergency services, directly impacting the community's quality of life. Compared to the national median property tax rate of 0.99%, Mount Hope's property tax rates reflect the region's specific economic and governmental needs.
Average Mount Hope Tax Bill
$1,713
Average Sedgwick County Tax Bill
$1,835
Average Kansas Tax Bill
$2,595
Average United States Tax Bill
$2,690
Property Tax Bills Across Mount Hope, Kansas
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 67108 | $589 | $1,109 | $1,713 | $2,613 | $3,549 |
Source: Ownwell