Tax Comparison: Elko new market, MN vs Ottawa, KS
Understanding Your Tax Burden
This page compares the three main types of taxes between Elko new market, MN and Ottawa, KS: property tax, income tax, and sales tax. Each of these has a different impact on your overall cost of living.
Property Tax Comparison
Property taxes are collected by local governments and used to fund schools, infrastructure, and other local services. They're typically based on the assessed value of your property.
Our property tax estimates are based on:
- U.S. median home value: $419,200 (2023 data)
- Local effective tax rates for both cities
Elko new market, MN
$4,469
Based on a $419,200 home
Rate: 1.0661%
Ottawa, KS
$6,122
Based on a $419,200 home
Rate: 1.4605%
| Data | Elko new market, MN | Ottawa, KS |
|---|---|---|
| Effective Property Tax Rate | 1.0661% | 1.4605% |
| Estimated Property Tax | $4,469 | $6,122 |
| Home Value Used | $419,200 | $419,200 |
Comparison: Property taxes in Elko new market, MN are $1,653 lower than in Ottawa, KS for the same home value.
State Income Tax Comparison
Income tax rates and brackets vary by state, impacting residents' overall tax burden. The estimates below are based on standard deductions and typical filing scenarios.
Our income tax estimates consider:
- Single filer: $100,000 annual income
- Married couple: $200,000 combined income
- Median income: $80,600 annual income
MN
5.35%-9.85%
Single: $5,319
Married: $9,574
KS
3.1%-5.7%
Single: $4,524
Married: $8,143
| Data | MN | KS |
|---|---|---|
| Tax Rate | 5.35%-9.85% | 3.1%-5.7% |
| Single Filer ($100k) | $5,319 | $4,524 |
| Married Couple ($200k) | $9,574 | $8,143 |
| Median Income ($80.6k) | $5,481 | $4,191 |
Comparison: Income taxes in KS are $1,290 lower than in MN for the median household income.
Sales Tax Comparison
Sales tax rates vary by location and can have a significant impact on your day-to-day expenses. These include state, county, city, and special district taxes that together form the total sales tax rate.
Our sales tax estimates consider:
- Average household taxable spending: $15,500 per year
- Combined state and local rates for both cities
Elko new market, MN
9.875%
Combined rate
Annual sales tax: $1530
(Based on $15,500 spending)
Ottawa, KS
10.750%
Combined rate
Annual sales tax: $1666
(Based on $15,500 spending)
| Data | Elko new market, MN | Ottawa, KS |
|---|---|---|
| State Sales Tax | 6.88% | 6.50% |
| Combined Sales Tax | 9.875% | 10.750% |
| Annual Tax Amount | $1,530 | $1,666 |
Comparison: Shopping in Elko new market, MN costs $136 less in annual sales tax than in Ottawa, KS for the average household.
Tax Comparison Insights
Tax Insights: Elko new market vs Ottawa
- Property Tax: Elko new market has a 0.3944 percentage points lower effective property tax rate than Ottawa.
- Income Tax: Living in KS could save you approximately $1,290 in state income taxes for a median household income.
- Sales Tax: The combined sales tax rate in Elko new market is 0.88 percentage points lower than in Ottawa.
Overall Tax Burden Comparison
Elko new market, MN
$11,480
Combined annual tax burden
Property
$4,469
Income
$5,481
Sales
$1,530
Ottawa, KS
$11,979
Combined annual tax burden
Property
$6,122
Income
$4,191
Sales
$1,666
Overall Comparison: Elko new market, MN has an estimated $499 lower total tax burden than Ottawa, KS based on our standard scenarios.
Important Tax Disclaimer
The tax information provided above is based on publicly available data and standard assumptions. Actual tax situations will vary based on:
- Individual financial circumstances
- Applicable deductions and credits
- Recent changes in tax laws
- Personal spending habits
- Local variations within cities and counties
This comparison is intended for general informational purposes only and should not be considered tax advice. For specific guidance regarding your tax situation, please consult with a qualified tax professional.