Park City, Kansas Property Taxes
The median property tax rate in Park City, KS is 1.62%, considerably higher than both the national median of 0.99% and the Kansas state median of 1.43%. With the median home value in Park City at $146,100, the typical annual property tax bill reaches $2,431, which is below the national median of $2,690. Property taxes in Park City 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 Park City'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 Park City 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
Park City, Kansas Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.62%
Estimate Property Tax Bill
$2,367
Ownwell’s Park City Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Park City with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Park City 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 Park City, Kansas
Property taxes in Park City, Kansas, are vital in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Park City is 1.62%, higher than both the Kansas state median and the U.S. national median of 0.99%. Local government entities within Park City set these rates annually, and they can vary significantly across different neighborhoods. Each year, Park City 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 Park City's effective property tax rate to other counties in Kansas and the national median. For comparison, the 67147 zip code has the highest median property tax rate of 1.79%, while the 67204 zip code has the lowest median tax rate of 1.56%. Understanding how these cities compare with Park City 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 Park City Tax Rate
1.62%
Average Sedgwick County Tax Rate
1.29%
Average Kansas Tax Rate
1.43%
Average United States Tax Rate
0.99%
Property Tax Rates Across Park City, Kansas
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 67147 | 1.78% | 1.79% | 1.79% | 1.81% | 2.35% |
| 67204 | 1.49% | 1.50% | 1.56% | 1.59% | 1.60% |
| 67219 | 1.54% | 1.57% | 1.61% | 1.76% | 2.12% |
Source: Ownwell
Property Tax Assessment Values Across Park City, Kansas
In Park City, 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 Park City, 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 Park City is $146,100, with tax bills ranging from $1,430 at the 25th percentile to $5,443 at the 90th percentile. The highest median tax bill is $4,996 in zip code 67147, while the lowest is $1,218 in zip code 67204. 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 Park City Assessed Value
$146,100
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 Park City, Kansas
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 67147 | $197,590 | $228,950 | $260,215 | $317,580 | $380,872 |
| 67204 | $31,792 | $52,000 | $78,200 | $101,600 | $120,540 |
| 67219 | $65,500 | $89,425 | $139,450 | $192,700 | $238,991 |
Source: Ownwell
Property Tax Bills Across Park City, Kansas
In Park City, Sedgwick County, KS, property tax bills are calculated based on the assessed value of a home, which is determined by the county assessor. This assessed value is a percentage of the property's market value. Homeowners in Park City face a median property tax bill of $1,430 at the 25th percentile, $3,525 at the 75th percentile, and $5,443 at the 90th percentile. These figures indicate a range of tax burdens depending on property values and specific circumstances. Factors influencing the tax bill include the property's location, size, and any improvements made. The local tax rate is applied to the assessed value, resulting in the final tax bill. Compared to the national median property tax rate of 0.99%, Park City's tax rates can vary significantly, reflecting the diverse property values within the area. For homeowners, understanding how these factors interplay is crucial in managing their annual tax liabilities and planning for future financial obligations.
Average Park City Tax Bill
$2,431
Average Sedgwick County Tax Bill
$1,835
Average Kansas Tax Bill
$2,595
Average United States Tax Bill
$2,690
Property Tax Bills Across Park City, Kansas
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 67147 | $3,396 | $4,071 | $4,996 | $6,197 | $7,301 |
| 67204 | $464 | $782 | $1,218 | $1,607 | $1,923 |
| 67219 | $1,002 | $1,406 | $2,315 | $3,248 | $5,099 |
Source: Ownwell