Overbrook, Kansas Property Taxes
The median property tax rate in Overbrook, KS is 1.46%, higher than both the national median of 0.99% and the Kansas state median of 1.43%. With the median home value in Overbrook at $199,525, the typical annual property tax bill reaches $2,653, just below the national median of $2,690. Property taxes in Overbrook 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 Overbrook'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 Overbrook 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
Overbrook, Kansas Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.46%
Estimate Property Tax Bill
$2,913
$2,703
Ownwell’s Overbrook Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Overbrook with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Overbrook 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 Overbrook, Kansas
Property taxes in Overbrook, Kansas, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Overbrook is 1.46%, significantly higher than both the Kansas state median of 1.25% and the U.S. national median of 0.99%. Local government entities within Overbrook set these rates annually, and they can vary significantly across different neighborhoods. Each year, Overbrook 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 Overbrook's effective property tax rate to other counties in Kansas and the national median. For comparison, the zip code 66524 has the highest median property tax rate of 1.46%, while the same zip code also has the lowest median tax rate of 1.46%. Understanding how these areas compare with Overbrook provides valuable insights into the varying tax landscape across Shawnee County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Overbrook Tax Rate
1.46%
Average Shawnee County Tax Rate
1.48%
Average Kansas Tax Rate
1.43%
Average United States Tax Rate
0.99%
Property Tax Rates Across Overbrook, Kansas
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 66524 | 1.20% | 1.29% | 1.46% | 1.48% | 1.49% |
Source: Ownwell
Property Tax Assessment Values Across Overbrook, Kansas
In Overbrook, 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 Shawnee 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 Overbrook, 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. The zip code 66524 in Overbrook has the highest median tax bill at $2,653. Being aware of these valuation processes helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Overbrook Assessed Value
$199,525
Average Shawnee County Assessed Value
$146,140
Average Kansas Assessed Value
$156,260
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Overbrook, Kansas
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 66524 | $41,224 | $127,438 | $199,525 | $279,045 | $361,116 |
Source: Ownwell
Property Tax Bills Across Overbrook, Kansas
In Overbrook, Shawnee County, KS, property tax bills are calculated based on the assessed value of a home, which is determined by local assessors. This value is then multiplied by the local tax rate to determine the annual tax bill. The median home price in Overbrook is $199,525, and property tax rates can vary within the county, leading to different tax bills for homeowners. For example, the 25th percentile tax bill is $1,782, while the 75th percentile tax bill reaches $3,984, and the 90th percentile can go up to $4,934. These variations can significantly impact homeowners, influencing their annual financial planning and overall cost of homeownership. Compared to the national median property tax rate of 0.99%, Overbrook's property tax landscape can be either more or less burdensome depending on individual home assessments and specific tax rates applied. Understanding these factors can help homeowners anticipate their property tax obligations and manage their finances more effectively.
Average Overbrook Tax Bill
$2,653
Average Shawnee County Tax Bill
$2,160
Average Kansas Tax Bill
$2,595
Average United States Tax Bill
$2,690
Property Tax Bills Across Overbrook, Kansas
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 66524 | $500 | $1,782 | $2,653 | $3,984 | $4,934 |
Source: Ownwell