Wakeeney, Kansas Property Taxes
The median property tax rate in Wakeeney, KS is 1.73%, considerably higher than both the national median of 0.99% and the Kansas state median of 1.43%. With the median home value in Wakeeney, the typical annual property tax bill reaches $1,277, which is below the national median of $2,690. Property taxes in Wakeeney 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 Wakeeney'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 Wakeeney 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
Wakeeney, Kansas Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.73%
Estimate Property Tax Bill
$1,313
$1,218
Ownwell’s WaKeeney Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in WaKeeney with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in WaKeeney 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 Wakeeney, Kansas
Property taxes in Wakeeney, Kansas, are vital in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Wakeeney is 1.73%, significantly higher than the U.S. national median of 0.99%. Local government entities within Wakeeney set these rates annually, and they can vary significantly across different neighborhoods. Each year, Wakeeney 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 Wakeeney's effective property tax rate to other counties in Kansas and the national median. For comparison, the 67672 zip code has the highest median property tax rate of 1.73%, while the same zip code also has the lowest median tax rate of 1.73%. Understanding how these cities compare with Wakeeney 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 Wakeeney Tax Rate
1.73%
Average Trego County Tax Rate
1.69%
Average Kansas Tax Rate
1.43%
Average United States Tax Rate
0.99%
Property Tax Rates Across Wakeeney, Kansas
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 67672 | 1.27% | 1.54% | 1.73% | 1.80% | 1.91% |
Source: Ownwell
Property Tax Assessment Values Across Wakeeney, Kansas
In WaKeeney, 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 WaKeeney, 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 WaKeeney is $75,890, with tax bills ranging from $653 at the 25th percentile to $3,169 at the 90th percentile. The highest and lowest median tax bills are both $1,277 in the 67672 zip code. 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 WaKeeney helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Wakeeney Assessed Value
$75,890
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 Wakeeney, Kansas
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 67672 | $19,620 | $40,570 | $75,890 | $132,020 | $194,550 |
Source: Ownwell
Property Tax Bills Across Wakeeney, Kansas
In WaKeeney, located in Trego County, KS, property tax bills are calculated based on the assessed value of a home, which is determined by the local tax assessor. This assessed value is a percentage of the property's market value. The property tax rate for WaKeeney is then applied to this assessed value to determine the annual tax bill. Homeowners in WaKeeney can expect significant variation in their tax bills. The 25th percentile tax bill is $653, while the 75th percentile reaches $2,223, and the 90th percentile climbs to $3,169. These figures illustrate the range of property tax burdens that homeowners may face, depending on their property's assessed value. With a median home price of $75,890, homeowners in WaKeeney often pay less in property taxes compared to the national median property tax rate of 0.99%. This relatively lower tax burden can be beneficial for homeowners, making WaKeeney an attractive option for those looking to manage their property expenses efficiently.
Average Wakeeney Tax Bill
$1,277
Average Trego County Tax Bill
$1,206
Average Kansas Tax Bill
$2,595
Average United States Tax Bill
$2,690
Property Tax Bills Across Wakeeney, Kansas
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 67672 | $310 | $653 | $1,277 | $2,223 | $3,169 |
Source: Ownwell