What are real estate taxes?

Real estate taxes are taxes that are levied on real property. This includes the land, buildings, and permanent fixtures located on land. In Kansas, local governments typically assess and collect real estate taxes. Most of these taxes are based on the value of the property and are used to fund public services and projects in the area. Some property taxes are imposed to raise revenue for the benefit of school districts, counties, municipal corporations, transportation projects, and other local entities. Real estate taxes are typically paid annually, although some areas of Kansas allow for taxes to be paid in quarterly installments. The amount of the tax is often calculated as a percentage of the assessed property value and is typically due by a certain date each year. It is the responsibility of the owner of the property to pay their real estate taxes. Failure to timely pay any real estate tax due may result in the assessment of penalties and interest or the potential for the property to be seized and sold to satisfy any unpaid taxes. In some cases, the owner of the property may be entitled to receive an exemption from paying all or part of the real estate tax.

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