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How Much Is Kansas Property Tax?

How Much Is Kansas Property Tax? 

A pile of cash, a pair of glasses, and notebooks on a table underneath a sheet of paper that reads “property tax”

Spring is a beautiful time of year associated with flowers, trees, and sunshine. And sometimes, taxes. If you’re a homeowner, you’re more than likely familiar with property taxes. Property taxes are one way city and county governments can provide funding for things like roads, parks, fire protection, and public schools.  

Though tax season comes around every year, it can still be a doozy to figure out what taxes you owe on your different assets. Whether you’re an established homeowner or a first time homebuyer, Read on to learn more about how property taxes are calculated in the state of Kansas. 

Does Kansas have property tax?  

Yes, Kansas does have property tax. All property owners must pay their property taxes each year, the amount is relative to the value of their property. According to the Tax Foundation, property taxes in Kansas average about 1.34%, which is a bit above the national average. 

How are property taxes calculated?  

There are a few important numbers to consider when you get your property tax bill in Kansas. First is the appraised value of your property. This is equal to the market value of your home.  

Each county has a county appraiser that determines the value each year of your property based on things like changes made to your property and what other homes in the area have sold for.  

Appraisals aren’t always perfect, so pay attention to that number and contact your county appraiser to file an appeal if you think it is too high.  

Assessed Value Vs. Appraised Value 

Another important number to pay attention to is the assessed value. In Kansas, actual tax rates apply to the assessed value of the property. The statewide residential assessment rate is 11.5%. This means the assessed value of your property equates to 11.5% of your property’s appraised value.  

Mill Levies 

To calculate your property taxes for the year, you also need to know your county’s mill levy rates. One mill levy equals $1 of taxes for every $1,000 in assessed property value. For the non-accountants out there, many county websites, like Finney County, provide steps for how to make these calculations or find your county’s mill levy rates.  

Navigate Home Ownership With a Bank That’s on Your Side 

Even when you’re familiar with the information above, tax season can be a headache if you don’t have a stable financial bank to back you up. At Landmark National Bank, our over 100 years of experience allow us to serve residents all over Kansas. To help you prepare for tax season and take control of your personal finances, consider opening a personal checking account or personal savings account with us.  

 If you’re not a homeowner yet but you plan to be, our home loans are simple to apply for. We offer a variety of home loans that will suit your lifestyle. Contact us today to learn more about account and loan options that may be right for you!