Breckenridge, Missouri Property Taxes
The median property tax rate in Breckenridge, MO is 1.05%, slightly higher than the national median of 0.99%, yet lower than the Missouri state median of 1.20%. With a median home value of $65,875 in Breckenridge, the typical annual property tax bill amounts to $699, which is significantly below the national median of $2,690. Property taxes in Breckenridge are calculated based on the assessed value, often lower than the market value due to various exemptions, such as those for primary residences and agricultural properties. Understanding Breckenridge's property tax system, exploring available exemptions, and identifying opportunities for reductions can lead to substantial annual savings. Whether you're in the heart of Breckenridge or another part of Livingston County, familiarizing yourself with 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
$1,500,000
$3,000,000
Average Tax Rate
1.05%
Estimate Property Tax Bill
$692
Ownwell’s Breckenridge Property Tax Bill Calculator is an essential tool for homeowners, real estate investors, and potential buyers to estimate their annual property taxes in Breckenridge. By simply entering your property's estimated assessed value, the calculator uses the median tax rate in Breckenridge to project your property tax bill. This valuable resource helps you grasp potential tax liabilities with ease. For those interested in more detailed trends at the neighborhood level, additional localized information is available below. Your property’s assessed value, determined by the county, is crucial for property tax calculations and takes into account any applicable exemptions.
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 1.05%, 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 1.05%, while the same zip code also has the lowest median tax rate of 1.05%. Understanding how these cities compare with Breckenridge provides valuable insights into the varying tax landscape across Livingston County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Breckenridge Tax Rate
1.05%
Average Livingston County Tax Rate
1.26%
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 | 0.87% | 0.98% | 1.05% | 1.15% | 1.26% |
Source: Ownwell
Property Tax Assessment Values Across Breckenridge, Missouri
Understanding the difference between "market value" and "assessed value" is crucial for comprehending property taxes in Breckenridge, Missouri. The market value represents 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 Livingston 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. By understanding the distinction between these valuation concepts, property owners can better navigate their tax responsibilities and comprehend how their property taxes are determined. The median home price in Breckenridge is $65,875, with tax bills ranging from $456 at the 25th percentile to $1,589 at the 90th percentile. The highest and lowest median tax bills are both $699 in zip code 64625. 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
$65,875
Average Livingston County Assessed Value
$65,985
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 | $16,962 | $41,618 | $65,875 | $109,868 | $148,874 |
Source: Ownwell
Property Tax Bills Across Breckenridge, Missouri
In Breckenridge, located in Livingston 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 applied to this assessed value to determine the final tax bill. Factors such as property location, home improvements, and market trends can influence the assessed value. For example, the median home price in Breckenridge is $65,875. Based on this, property tax bills can vary significantly. Homeowners at the 25th percentile can expect a tax bill around $456, while those at the 75th percentile might see bills closer to $1,115. At the 90th percentile, tax bills can reach up to $1,589. This variability can impact homeowners' financial planning and budgeting. Comparatively, the national median property tax rate is 0.99%, which provides a benchmark for evaluating local tax burdens. Understanding these calculations helps homeowners anticipate their annual property tax obligations and manage their finances accordingly.
Average Breckenridge Tax Bill
$699
Average Livingston County Tax Bill
$794
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 | $231 | $456 | $699 | $1,115 | $1,589 |
Source: Ownwell