Ransom, Kansas Property Taxes
The median property tax rate in Ransom, KS is 2.04%, significantly higher than both the national median of 0.99% and the Kansas state median of 1.43%. With the median home value in Ransom at $62,200, the typical annual property tax bill reaches $1,322, surpassing the national median of $2,690. Property taxes in Ransom 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 Ransom'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 Ransom 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
Ransom, Kansas Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
2.04%
Estimate Property Tax Bill
$1,269
$1,177
Ownwell’s Ransom Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Ransom with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Ransom 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 Ransom, Kansas
Property taxes in Ransom, Kansas, are crucial for funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Ransom is 1.30%, significantly higher than both the Kansas state median of 1.28% and the U.S. national median of 0.99%. Local government entities within Ransom set these rates annually, and they can vary significantly across different neighborhoods. Each year, Ransom 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 Ransom's effective property tax rate to other counties in Kansas and the national median. For comparison, the 67572 zip code has the highest median property tax rate of 1.30%, while the 67572 zip code also has the lowest median tax rate of 1.30%. Understanding how these cities compare with Ransom provides valuable insights into the varying tax landscape across Trego County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Ransom Tax Rate
2.04%
Average Trego County Tax Rate
1.69%
Average Kansas Tax Rate
1.43%
Average United States Tax Rate
0.99%
Property Tax Rates Across Ransom, Kansas
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 67572 | 1.25% | 1.69% | 2.04% | 2.30% | 2.70% |
Source: Ownwell
Property Tax Assessment Values Across Ransom, Kansas
In Ransom, 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 Trego 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 Ransom, 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 Ransom is $62,200, with tax bills ranging from $871 at the 25th percentile to $4,377 at the 90th percentile. The highest and lowest median tax bills are both $1,322, found in the 67572 zip code. 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 Ransom Assessed Value
$62,200
Average Trego County Assessed Value
$75,930
Average Kansas Assessed Value
$156,260
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Ransom, Kansas
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 67572 | $22,694 | $49,150 | $62,200 | $115,575 | $205,900 |
Source: Ownwell
Property Tax Bills Across Ransom, Kansas
In Ransom, property tax bills are calculated based on a combination of the assessed value of the property and the local tax rate. The assessed value is determined by the county assessor and is a percentage of the property's market value. Homeowners in Ransom experience a median home price of $62,200, which influences their property tax bills. Tax bills can vary significantly, with the 25th percentile at $871 and the 75th percentile reaching $2,212. At the higher end, the 90th percentile of tax bills can go up to $4,377. These variations depend on factors such as property size, location, and any applicable exemptions or deductions. For homeowners, these property taxes fund essential local services like schools, public safety, and infrastructure. Compared to the national median property tax rate of 0.99%, Ransom's property taxes reflect the economic landscape and community needs of the area. Understanding these factors helps homeowners anticipate their financial responsibilities and plan accordingly.
Average Ransom Tax Bill
$1,322
Average Trego County Tax Bill
$1,206
Average Kansas Tax Bill
$2,595
Average United States Tax Bill
$2,690
Property Tax Bills Across Ransom, Kansas
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 67572 | $416 | $871 | $1,322 | $2,212 | $4,377 |
Source: Ownwell