New legislation going into effect this year could play a big role in how much you pay in property taxes in Kansas. In March, Kansas Governor Laura Kelley signed SB13, a bill that adds a public hearing requirement for taxing subdivisions that want to collect property taxes beyond a revenue neutral rate. A revenue neutral rate (RNR) is a tax rate that would generate the same amount of property tax dollars for the city as the previous tax year, using the current tax year’s total assessment valuation. A RNR is expressed in mills. A mill represents one one-thousandth of a dollar. That comes out to about $1 of taxes for every $1,000 a property is valued.
Source: fox4kc.com | FOX 4 – WDAF
