The City Council reduced property taxes last year. How much did you save?

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• The average homeowner saved about$6/month

• The changes reduced the city's revenues by about $2.3 Million — enough to cover the cost of the Public Safety Equipment Fund AND the cost of the Neighborhood Revitalization Fund for a full year.

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Here's how to calculate your savings:

 

Use these two formulas. The first one calculates your city tax at the 2021 rate of 26.004 mills. The second calculates your tax at the rate set for 2022: (AppVal means Appraised Value)

 

(AppVal/1,000) x 0.115 x 26.004 ÷ 12 = Monthly tax at 2021 rate

 

(AppVal/1,000) x 0.115 x 24.047 ÷ 12 = Monthly tax at 2022 rate

Now, subtract the 2022 tax from the 2021 tax to see what you saved.

For example.

($343,500/1000) x .115 x 26.004 ÷ 12 = $85.60/month

($343,500/1000) x .115 x 24.047 ÷ 12 = $79.16/month

Savings = $85.60 - $79.16 = $6.44/month

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Understanding the numbers

1. Property taxes are based on the mill levy established by the City Council. A mill is a tax of one dollar for every $1,000 of assessed property value.

2. Kansas law determines the assessed value of your home as 11.5% of its appraised value.

3. The appraised value is determined every year based on fair market value of your home as determined by the Johnson County Appraiser's Office. The average Shawnee home's appraised value in 2021 was $343,500, well below the average Shawnee home sales price of  $407,700.

4. The City of Shawnee mill levy in 20211 was 26.004. The City Council reduced the 2021 rate to 24.047 - AGAINST the recommendation of the former City Manager, who has since resigned.

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Sources

City of Shawnee, Kansas public web site

Johnson County, Kansas Appraiser's Office public web site

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Did you know...?

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The city is legally required to balance its budget every year. Any property tax reduction has to come from somewhere. Either the city has to raise other taxes or it has to reduce services. Property tax reductions are popular, but they're not free.

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The property tax you pay to Shawnee is only about 22% of your total tax bill. The rest goes to the state of Kansas, Johnson County, and your local school district.

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Your property tax keeps going up because your property's tax value is connected to its market value. Your tax bill will keep increasing as long as home prices keep going up so fast. The City Council needs to do more to broaden the city's tax base.

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The average appraised value of a home in Shawnee went up by $35,000 from 2022 t0 2023. The average sales price went up by $37,000 during the same time.

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The average home selling price in Shawnee has increased by 46% in just the last five years.

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Property tax relief for seniors

Some Shawnee residents over the age of 55 are eligible for a tax refund up to $700. Homeowners over 55 who earn $34,450 0r less may be eligible for the refund. Details about the program are available on the City of Shawnee web site in the Finance section.