Tax & Accounting Blog

Kansas Department of Revenue announces changes to 2013 property tax interest rates

Indirect Tax, ONESOURCE, ONESOURCE Property Tax, Software August 27, 2012

Tax payers in the state of Kansas will see changes in interest applied to various underpayments or late payments of property tax next year. Starting in 2013, the interest rate applied when a county collects interest on a taxpayer’s late payment of real or personal property taxes will decrease from 7% to 6% according to the Kansas Department of Revenue. As for late or underpayments of $10,000 or more, the rate remains the same at 12%. And for late unpaid portion of advanced payments, the rate decreases from 5% to 4%. The interest rate applied when a county pays interest on refunds for payment under protests and equalization appeals or for tax grievance or clerical error refunds ordered by the Kansas Court of Tax Appeals will decrease from 3% to 2%. The DOR also announced that the interest rate applied when a county pays interest on refunds for clerical error refunds ordered by the county will decrease from 7% to 6%.