Breckenridge, Missouri Property Taxes
The median property tax rate in Breckenridge, MO is 1.41%, considerably higher than both the national median of 0.99% and the Missouri state median of 1.20%. With the median home value in Breckenridge, the typical annual property tax bill reaches $594, which is significantly lower than the national median of $2,690. Property taxes in Breckenridge are calculated based on the tax assessed value, which typically falls below the market value due to various exemptions like the primary residence and agricultural exemptions. Understanding Breckenridge's property tax system, exploring available exemptions, and identifying opportunities for reductions can lead to significant annual savings. Whether you're in the heart of Breckenridge or another part of the city, understanding the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Breckenridge, Missouri Property Tax Bill Calculator
$100,000
$2,500,000
$5,000,000
Average Tax Rate
1.2%
Estimate Property Tax Bill
$2,400
Ownwell’s Breckenridge Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Breckenridge with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Breckenridge to estimate your property tax bill. This insightful tool helps you understand potential tax liabilities. If you’re interested in seeing trends on a neighborhood level, scroll down to find more localized information. Your property’s assessed value is the value assigned by the county for property tax calculations, accounting for any exemptions that may apply.
Property Tax Rates Across Breckenridge, Missouri
Property taxes in Breckenridge, Missouri, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Breckenridge is 1.41%, higher than both the Missouri state median and the U.S. national median of 0.99%. Local government entities within Breckenridge set these rates annually, and they can vary significantly across different neighborhoods. Each year, Breckenridge estimates its required budget to maintain services for the upcoming fiscal year, then divides this budget by the total value of all taxable property within the jurisdiction to calculate the property tax rate. While tax rates and budgets are influenced by laws and voter input, this calculation forms the basis of setting property tax rates. The data below compares Breckenridge's effective property tax rate to other counties in Missouri and the national median. For comparison, the 64625 zip code has the highest median property tax rate of 1.41%, while the same zip code also has the lowest median tax rate of 1.41%. Understanding how these cities compare with Breckenridge provides valuable insights into the varying tax landscape across Caldwell County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Breckenridge Tax Rate
1.41%
Average Caldwell County Tax Rate
1.16%
Average Missouri Tax Rate
1.20%
Average United States Tax Rate
0.99%
Property Tax Rates Across Breckenridge, Missouri
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 64625 | 0.98% | 1.16% | 1.41% | 1.45% | 1.51% |
Source: Ownwell
Property Tax Assessment Values Across Breckenridge, Missouri
In Breckenridge, Missouri, understanding the difference between "market value" and "assessed value" is crucial for comprehending property taxes. The market value is the price a willing buyer would pay a willing seller in an open and competitive market, influenced by factors like location, property condition, and economic trends. This value is estimated by the Caldwell County Appraisal District for tax purposes. In contrast, the assessed value is the market value minus any applicable exemptions or limits based on local laws and available programs. The assessed value is then used to calculate your property taxes by multiplying it by the combined tax rates of all relevant taxing entities. In Breckenridge, assessment notices are typically mailed out in the spring, usually by mid-April. These notices provide homeowners with both the market and assessed values, along with an estimate of the annual property tax bill. The median home price in the area is $44,235. Notably, the highest median tax bill in the region is $594 in zip code 64625, which is also the lowest. By understanding the distinction between these valuation concepts, property owners can better navigate their tax responsibilities and comprehend how their property taxes are determined. Being aware of these valuation processes in Breckenridge helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Breckenridge Assessed Value
$44,235
Average Caldwell County Assessed Value
$73,285
Average Missouri Assessed Value
$129,505
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Breckenridge, Missouri
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 64625 | $6,130 | $17,792 | $44,235 | $85,615 | $161,482 |
Source: Ownwell
Property Tax Bills Across Breckenridge, Missouri
In Breckenridge, Caldwell County, MO, property tax bills are calculated based on the assessed value of your home, which is determined by the local assessor's office. The assessed value is a percentage of the market value of your property. Once the assessed value is established, the local tax rate is applied to calculate your annual property tax bill. Several factors influence the final tax bill, including property size, location, and any applicable exemptions. For instance, the median home price in Breckenridge is $44,235, resulting in varying tax bills. The 25th percentile tax bill is $264, while the 75th percentile tax bill is $1,096, and the 90th percentile tax bill can reach up to $1,883. These property taxes significantly impact homeowners by contributing to local services such as schools, infrastructure, and emergency services. Compared to the national median property tax rate of 0.99%, Breckenridge's tax bills are relatively moderate, offering a balance between affordability and community benefits.
Average Breckenridge Tax Bill
$594
Average Caldwell County Tax Bill
$850
Average Missouri Tax Bill
$1,606
Average United States Tax Bill
$2,690
Property Tax Bills Across Breckenridge, Missouri
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 64625 | $128 | $264 | $594 | $1,096 | $1,883 |
Source: Ownwell