Milton, Kansas Property Taxes
The median property tax rate in Milton, KS is 1.10%, slightly above the national median of 0.99% but lower than the Kansas state median of 1.43%. With a median home value in Milton of $147,190, the typical annual property tax bill amounts to $1,584, which is below the national median of $2,690. Property taxes in Milton are determined based on the assessed value, which is generally lower than the market value due to various exemptions, such as those for primary residences and agricultural properties. By understanding Milton's property tax system, exploring available exemptions, and identifying opportunities for reductions, homeowners and real estate investors can achieve significant annual savings. Whether you're in the heart of Milton or another part of Sumner County, a thorough understanding of the local property tax system will be beneficial.
Last Updated June 14, 2024
Milton, Kansas Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.1%
Estimate Property Tax Bill
$1,619
Ownwell’s Milton Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Milton with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Milton 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 Milton, Kansas
Property taxes in Milton, Kansas, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Milton is 1.10%, significantly higher than both the Kansas state median and the U.S. national median of 0.99%. Local government entities within Milton set these rates annually, and they can vary significantly across different neighborhoods. Each year, Milton 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 Milton's effective property tax rate to other counties in Kansas and the national median. For comparison, the 67106 zip code has the highest median property tax rate of 1.10%, while the same zip code also has the lowest median tax rate of 1.10%. Understanding how these cities compare with Milton provides valuable insights into the varying tax landscape across Sumner County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Milton Tax Rate
1.10%
Average Sumner County Tax Rate
1.55%
Average Kansas Tax Rate
1.43%
Average United States Tax Rate
0.99%
Property Tax Rates Across Milton, Kansas
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 67106 | 0.70% | 0.90% | 1.10% | 1.28% | 1.66% |
Source: Ownwell
Property Tax Assessment Values Across Milton, Kansas
In Milton, 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 Sumner 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 Milton, 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 Milton helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The highest median tax bill in Milton is $1,584, found in the 67106 zip code, while the lowest median tax bill is also $1,584 in the same zip code.
Average Milton Assessed Value
$147,190
Average Sumner County Assessed Value
$90,990
Average Kansas Assessed Value
$156,260
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Milton, Kansas
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 67106 | $28,314 | $73,290 | $147,190 | $233,210 | $305,174 |
Source: Ownwell
Property Tax Bills Across Milton, Kansas
In Milton, Sumner County, KS, property tax bills are calculated based on the assessed value of a homeowner's property. The assessed value is a percentage of the property's market value, which is determined by local assessors. Homeowners in Milton experience a range of property tax bills, with the 25th percentile at $923 and the 75th percentile at $2,646. The highest median tax bill in the area is $1,584, which is consistent across different zip codes. Several factors influence the final tax bill, including the property's assessed value, local tax rates, and any applicable exemptions. These elements combine to determine the homeowner's financial obligation. Compared to the national median property tax rate of 0.99%, Milton's tax rates can vary, affecting homeowners differently based on their property's value and location within the county. Understanding these factors helps homeowners anticipate their tax responsibilities and manage their finances effectively.
Average Milton Tax Bill
$1,584
Average Sumner County Tax Bill
$1,397
Average Kansas Tax Bill
$2,595
Average United States Tax Bill
$2,690
Property Tax Bills Across Milton, Kansas
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 67106 | $258 | $923 | $1,584 | $2,646 | $4,079 |
Source: Ownwell