Raytown, Missouri Property Taxes
The median property tax rate in Raytown, MO is 1.79%, considerably higher than both the national median of 0.99% and the Missouri state median of 1.20%. With the median home value in Raytown being $102,000, the typical annual property tax bill reaches $1,841, which is lower than the national median of $2,690. Property taxes in Raytown 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 Raytown'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 Raytown 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
Raytown, Missouri Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.79%
Estimate Property Tax Bill
$1,826
Ownwell’s Raytown Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Raytown with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Raytown 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 Raytown, Missouri
Property taxes in Raytown, Missouri, are essential for funding local services like public schools, road maintenance, and emergency services. The median tax rate in Raytown is 1.79%, significantly higher than the U.S. national median of 0.99%. Local government entities within Raytown set these rates annually, and they can vary across different neighborhoods. Each year, Raytown 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 Raytown's effective property tax rate to other areas in Jackson County and the national median. For comparison, the 64138 zip code has the highest median property tax rate of 1.79%, while the 64129 zip code has the lowest median tax rate of 1.79%. Understanding how these areas compare with Raytown provides valuable insights into the varying tax landscape across Jackson County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Raytown Tax Rate
1.79%
Average Jackson County Tax Rate
1.56%
Average Missouri Tax Rate
1.20%
Average United States Tax Rate
0.99%
Property Tax Rates Across Raytown, Missouri
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 64129 | 1.79% | 1.79% | 1.79% | 1.79% | 1.79% |
| 64133 | 1.79% | 1.79% | 1.79% | 1.79% | 1.79% |
| 64138 | 1.79% | 1.79% | 1.79% | 1.79% | 1.79% |
Source: Ownwell
Property Tax Assessment Values Across Raytown, Missouri
In Raytown, 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 Jackson County Assessment Department 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 Raytown, 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. 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 Raytown helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The highest median tax bill is $2681 in the 64129 zip code, while the lowest median tax bill is $1752 in the 64133 zip code.
Average Raytown Assessed Value
$102,000
Average Jackson County Assessed Value
$127,000
Average Missouri Assessed Value
$129,505
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Raytown, Missouri
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 64129 | $131,600 | $138,500 | $150,000 | $161,500 | $168,400 |
| 64133 | $58,000 | $76,000 | $98,000 | $127,000 | $161,000 |
| 64138 | $78,000 | $91,000 | $107,000 | $143,000 | $173,000 |
Source: Ownwell
Property Tax Bills Across Raytown, Missouri
In Raytown, located in Jackson County, MO, property tax bills are calculated based on the assessed value of a home, which is a percentage of its market value. The local tax rate is then applied to this assessed value to determine the annual property tax bill. For example, with a median home price of $102,000, homeowners can expect varying tax bills depending on the specific assessment and tax rate applied. Factors influencing the tax bill include the home's market value, local tax rates, and any applicable exemptions or deductions. Homeowners in Raytown experience a range of tax bills, with the 25th percentile at $1,466 and the 75th percentile at $2,377. The highest median tax bill in the area is $2,681, while the lowest is $1,752. These property taxes are crucial for funding local services such as schools, public safety, and infrastructure. Compared to the national median property tax rate of 0.99%, Raytown's tax rates reflect the local government's budgetary needs and priorities, directly impacting homeowners' annual expenses.
Average Raytown Tax Bill
$1,841
Average Jackson County Tax Bill
$2,070
Average Missouri Tax Bill
$1,606
Average United States Tax Bill
$2,690
Property Tax Bills Across Raytown, Missouri
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 64129 | $2,352 | $2,475 | $2,681 | $2,886 | $3,010 |
| 64133 | $1,037 | $1,358 | $1,752 | $2,270 | $2,902 |
| 64138 | $1,412 | $1,626 | $1,924 | $2,574 | $3,128 |
Source: Ownwell