Understanding the USD 251 Bond One Fact at a Time!

Fact #5: Appraised Value vs. Assessed Value

Did you know?

In Kansas, property taxes are not calculated using your home's appraised value.

Instead, they are based on its assessed value.

The Kansas Department of Revenue sets the assessment rate for different types of property. Residential property in Kansas is assessed at 11.5% of its appraised value.

Example: A Home Appraised at $150,000

Step 1: Determine the assessed value.

$150,000 × 11.5% = $17,250 assessed value

Step 2: Apply the projected bond mill levy.

If both bond propositions pass, the district's projected bond mill levy is 21 mills (17 mills for Proposition 1 + 4 mills for Proposition 2).

A mill equals $1 of tax for every $1,000 of assessed value.

$17,250 ÷ 1,000 = 17.25

17.25 × 21 mills = $362.25 per year

What does that mean?

Approximately $362.25 per year

Approximately $30.19 per month

Approximately $6.97 per week

Approximately $0.99 per day

This example is based on a home appraised at $150,000 and the district's projected 2026 bond mill levy of 21 mills if both propositions pass.

Actual property taxes will vary depending on your home's appraised and assessed value.

Understanding the difference between appraised value and assessed value helps explain how property taxes are calculated and why taxes are not based on the full market value of your home.

To learn more about the bond proposal, visit:

https://www.usd251.org/page/usd-251-bond-information

As always, if you have questions, please reach out. We are committed to providing factual information to help our community make an informed decision this November.

Stay tuned for more facts each day!