Example of Finney County Property Tax Calculation
In Finney County, property tax is calculated based on the assessed value of a property. The assessed value is determined by the Finney County Appraiser's Office, which evaluates the market value of the property on an annual basis.
Once the assessed value is established, a tax rate is applied to calculate the property tax owed. The tax rate is set by the Finney County Board of Commissioners and is expressed as a percentage of the assessed value.
For example, if a property in Finney County is assessed at $100,000 and the tax rate is 2.5%, the property tax owed would be $2,500 ($100,000 x 0.025 = $2,500).
It's important to note that homeowners may be eligible for certain exemptions or deductions that can lower their property tax bill. These exemptions and deductions vary depending on factors such as age, disability status, and military service. Homeowners should contact the Finney County Appraiser's Office or consult with a tax professional for more information on available tax breaks.
If you want appeal your property tax assessment - contact your local tax assessor.
Finney County Property Tax Rates
Here is a table listing the Finney County Property Tax rates:
| Tax | Rate per $100 of Assessed Value |
|---|---|
| County | $1.73 |
| State | $2.74 |
| City | $1.58 |
| School | $5.31 |
| Township | $0.34 |
It is important to note that these rates are subject to change and may vary based on individual circumstances. As a tax advisor, it is recommended to regularly review and update tax information for clients to ensure compliance with current regulations.
Who sets property tax rates in Finney County ?
Property Tax Rates in Finney County
In Finney County, the property tax rates are set by the Finney County Commissioners. They are responsible for establishing a budget for the county, which includes determining the amount of money needed to operate the local government, schools, and other public services.
Once the budget is established, the Commissioners set the property tax rates to generate the necessary revenue. The property tax rate is determined by dividing the total budget by the assessed property value in the county.
The property value is assessed by the Finney County Appraiser's Office on an annual basis, and the property owners are notified of their assessed value. Property owners can appeal their assessment if they believe it is inaccurate.
Property taxes are due on December 20th each year, and a penalty is assessed for late payments. The property tax revenue collected is used to fund essential services such as law enforcement, public schools, and infrastructure maintenance and development.
In summary, the Finney County Commissioners set the property tax rates based on the county's budget, and the property value is assessed annually by the Finney County Appraiser's Office. Property taxes are due on December 20th each year and are essential for funding public services in the county.
Homestead exemptions in Finney County ?
Table Columns:
| Exemption | Eligibility | Amount | Notes |
|---|---|---|---|
| Senior Citizen Tax Freeze | Age 65+, income < $40,000 | Frozen property tax amount | Must apply yearly |
| Homestead Exemption | Owner-occupied, must apply | $20,000 assessed value deduction | Applies to primary residence |
| Military Exemption | Must be active duty, disabled veteran or surviving spouse | 50% of assessed value exemption | Applies to primary residence |
| Disabled Veteran Exemption | Must be disabled veteran or surviving spouse | $1,500 assessed value deduction | Applies to primary residence |
| Low-Income Exemption | Income < $12,880, must apply | $200 assessed value deduction | Applies to primary residence |
| Agricultural Land Exemption | Must be actively farming | Varies by acreage and use | Applies to agricultural land |
Notes:
- Finney County offers a variety of exemptions and deductions for its residents, including those for seniors, military personnel, veterans, low-income individuals, and farmers.
- The Senior Citizen Tax Freeze allows eligible residents to freeze the amount they pay in property taxes each year.
- The Homestead Exemption provides a $20,000 deduction on the assessed value of the primary residence for eligible owner-occupied homes.
- Military personnel and disabled veterans, as well as their surviving spouses, may be eligible for exemptions that reduce their property tax liability.
- Low-income residents may qualify for an exemption that provides a $200 assessed value deduction on their primary residence.
- Finally, farmers who are actively farming their land may be eligible for an exemption that varies depending on the acreage and use of the agricultural land.
When is Finney County Property Tax due ?
Finney County Property Tax Due Date and Payment Methods
- Finney County Property Tax is typically due on December 20th of each year.
- Payment methods include:
| Payment Method | Description |
|---|---|
| In-Person | Payments can be made in-person at the Finney County Treasurer's Office during regular business hours. Cash, check, or money order are accepted. |
| Online | Payments can be made online through the Finney County Treasurer's website using a credit or debit card. A convenience fee is added to online payments. |
| Payments can be mailed to the Finney County Treasurer's Office using a check or money order. The address is: Finney County Treasurer, 311 N. Ninth Street, Room 102, Garden City, KS 67846. |
It is important to note that failure to pay property tax by the due date may result in penalties and interest charges. If a property owner is unable to make the full payment by the due date, they may be able to arrange a payment plan with the Finney County Treasurer's Office.
If you have more questions - contact your local tax collector.
How is Finney County Property Tax penalty calculated ?
How is Finney County Property Tax Penalty Calculated?
Finney County imposes a penalty on property owners who fail to pay their property taxes by a certain due date. The penalty amount is determined based on several factors, including the amount of unpaid taxes and the length of time that has passed since the due date.
Here's a breakdown of how the Finney County property tax penalty is calculated:
-
Initial Penalty: If the property taxes are not paid by the due date (typically December 20th), a penalty of 2% is added to the amount owed.
-
Additional Penalty: An additional penalty of 1% is added on the first day of every month that the taxes remain unpaid. This continues until the taxes and penalties are paid in full.
-
Maximum Penalty: The maximum penalty that can be imposed is 10% of the total amount of taxes owed.
For example, let's say that John owns a property in Finney County and owes $5,000 in property taxes. He fails to pay by the due date and incurs an initial penalty of 2%, or $100. If he still hasn't paid after one month, an additional penalty of 1%, or $50, is added to his bill. If he still hasn't paid after six months, the total penalty would be $350 (2% + 5 x 1%), or 7% of the original $5,000 tax bill.
It's important to note that property owners have the option to pay their taxes in installments throughout the year, which can help avoid the large penalty amounts that can accrue if taxes are not paid in full by the due date.
We recommend contacting the Finney County Tax Office or a local tax professional for the most up-to-date and accurate information.