Levant, Kansas Property Taxes
The median property tax rate in Levant, KS is 1.48%, which is significantly higher than both the national median of 0.99% and the Kansas state median of 1.43%. With the median home value in Levant at $70,385, the typical annual property tax bill amounts to $1,116, surpassing the national median of $2,690. Property taxes in Levant are determined based on the assessed value, which generally falls below the market value due to various exemptions, such as those for primary residences and agricultural properties. Gaining a thorough understanding of Levant's property tax system, exploring available exemptions, and identifying opportunities for reductions can lead to substantial annual savings. Whether you're residing in Levant or another part of Thomas County, familiarizing yourself with the local property tax system will provide significant benefits for both homeowners and real estate investors.
Last Updated June 14, 2024
Levant, Kansas Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.48%
Estimate Property Tax Bill
$1,042
$967
Ownwell’s Levant Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Levant with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Levant 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 Levant, Kansas
Property taxes in Levant, Kansas, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Levant is 1.48%, significantly higher than both the Kansas state median and the U.S. national median of 0.99%. Local government entities within Levant set these rates annually, and they can vary significantly across different neighborhoods. Each year, Levant 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 Levant's effective property tax rate to other counties in Kansas and the national median. For comparison, the 67743 zip code has the highest median property tax rate of 1.48%, while the same zip code also has the lowest median tax rate of 1.48%. Understanding how these cities compare with Levant provides valuable insights into the varying tax landscape across Thomas County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Levant Tax Rate
1.48%
Average Thomas County Tax Rate
1.59%
Average Kansas Tax Rate
1.43%
Average United States Tax Rate
0.99%
Property Tax Rates Across Levant, Kansas
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 67743 | 0.83% | 1.13% | 1.48% | 1.73% | 2.62% |
Source: Ownwell
Property Tax Assessment Values Across Levant, Kansas
In Levant, 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 Thomas 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 Levant, 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 Levant helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The highest median tax bill in Levant is $1,116 in the 67743 zip code, while the lowest median tax bill is also $1,116 in the same zip code.
Average Levant Assessed Value
$70,385
Average Thomas County Assessed Value
$124,550
Average Kansas Assessed Value
$156,260
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Levant, Kansas
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 67743 | $5,994 | $18,575 | $70,385 | $146,115 | $227,838 |
Source: Ownwell
Property Tax Bills Across Levant, Kansas
In Levant, Thomas County, KS, property tax bills are calculated based on the assessed value of a home. The assessed value is a percentage of the property's market value, which is determined by the county assessor. Various factors, including location, property size, and home improvements, influence this market value. Homeowners in Levant can expect their tax bills to vary significantly. For example, the 25th percentile tax bill is $259, while the 75th percentile tax bill rises to $2,539. The highest median tax bill recorded in the area is $1,116 in the 67743 zip code, which is also the lowest median tax bill, indicating a uniform tax rate across that zip code. These tax bills directly impact homeowners' annual expenses, making it crucial to understand how assessed values and local tax rates contribute to the final amount. Compared to the national median property tax rate of 0.99%, Levant's tax rates can be a significant factor in overall homeownership costs.
Average Levant Tax Bill
$1,116
Average Thomas County Tax Bill
$1,936
Average Kansas Tax Bill
$2,595
Average United States Tax Bill
$2,690
Property Tax Bills Across Levant, Kansas
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 67743 | $52 | $259 | $1,116 | $2,539 | $4,103 |
Source: Ownwell