Dunnellon, Missouri Property Taxes
The median property tax rate in Dunnellon, MO is 1.76%, considerably higher than both the national median of 0.99% and the Missouri state median of 1.20%. With the median home value in Dunnellon, the typical annual property tax bill reaches $151, which is far below the national median of $2,690. Property taxes in Dunnellon 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 Dunnellon'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 Dunnellon 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
Dunnellon, Missouri Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.76%
Estimate Property Tax Bill
$151
Ownwell’s Dunnellon Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Dunnellon with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Dunnellon 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 Morgan County for property tax calculations, accounting for any exemptions that may apply.
Property Tax Rates Across Dunnellon, Missouri
Property taxes in Dunnellon, Missouri, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Dunnellon is 1.76%, higher than both the Missouri state median and the U.S. national median of 0.99%. Local government entities within Dunnellon set these rates annually, and they can vary significantly across different neighborhoods. Each year, Dunnellon 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 Dunnellon's effective property tax rate to other counties in Missouri and the national median. For comparison, the 29141 zip code has the highest median property tax rate of 1.76%, while other areas may have lower rates. Understanding how these cities compare with Dunnellon provides valuable insights into the varying tax landscape across Morgan County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Dunnellon Tax Rate
1.76%
Average Morgan County Tax Rate
0.87%
Average Missouri Tax Rate
1.20%
Average United States Tax Rate
0.99%
Property Tax Rates Across Dunnellon, Missouri
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|
Source: Ownwell
Property Tax Assessment Values Across Dunnellon, Missouri
In Dunnellon, 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 Morgan County Assessor 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 Dunnellon, 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 Dunnellon is $8,600. 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 Dunnellon helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Dunnellon Assessed Value
$8,600
Average Morgan County Assessed Value
$49,350
Average Missouri Assessed Value
$129,505
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Dunnellon, Missouri
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|
Source: Ownwell
Property Tax Bills Across Dunnellon, Missouri
In Dunnellon, property tax bills are calculated based on the assessed value of a home, which is determined by the local assessor's office. The median home price in Dunnellon is $8,600, significantly lower than the national average. Property taxes here are influenced by the assessed value, local tax rates, and any applicable exemptions. For homeowners in Morgan County, the property tax rate can significantly impact their annual tax bills. With a tax bill at the 25th, 75th, and 90th percentiles all at $151, it is clear that the tax rate is relatively consistent across various property values. This rate is considerably lower than the national median property tax rate of 0.99%, making Dunnellon an attractive location for those looking to minimize their property tax expenses. The lower property tax bills can provide substantial savings for homeowners, allowing them to allocate more funds towards other expenses or investments. Understanding how these factors interplay is crucial for homeowners aiming to manage their finances effectively.
Average Dunnellon Tax Bill
$151
Average Morgan County Tax Bill
$420
Average Missouri Tax Bill
$1,606
Average United States Tax Bill
$2,690
Property Tax Bills Across Dunnellon, Missouri
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|
Source: Ownwell