Lenexa, Missouri Property Taxes
The median property tax rate in Lenexa, MO is 1.49%, considerably higher than both the national median of 0.99% and the Missouri state median of 1.20%. With the median home value in Lenexa, the typical annual property tax bill reaches $64, exceeding the national median of $2,690. Property taxes in Lenexa 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 Lenexa'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 Lenexa 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
Lenexa, 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 Lenexa Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Lenexa with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Lenexa 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 Lenexa, Missouri
Property taxes in Lenexa, Missouri, are vital in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Lenexa is 1.49%, higher than both the Missouri state median and the U.S. national median of 0.99%. Local government entities within Lenexa set these rates annually, and they can vary significantly across different neighborhoods. Each year, Lenexa 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 Lenexa's effective property tax rate to other counties in Missouri and the national median. For comparison, the 66227 zip code has the highest median property tax rate of 2.29%, while the 66215 zip code has the lowest median tax rate of 1.17%. Understanding how these cities compare with Lenexa 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 Lenexa Tax Rate
1.49%
Average Morgan County Tax Rate
0.87%
Average Missouri Tax Rate
1.20%
Average United States Tax Rate
0.99%
Property Tax Rates Across Lenexa, Missouri
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 66215 | 0.92% | 1.01% | 1.17% | 1.33% | 1.42% |
| 66227 | 2.29% | 2.29% | 2.29% | 2.29% | 2.29% |
Source: Ownwell
Property Tax Assessment Values Across Lenexa, Missouri
In Lenexa, 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 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 Lenexa, 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 Lenexa helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The highest median tax bill in Lenexa is $209.00 in zip code 66215, which is also the lowest median tax bill, indicating a uniform tax burden across the area.
Average Lenexa Assessed Value
$4,300
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 Lenexa, Missouri
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 66215 | $8,030 | $13,625 | $22,950 | $32,275 | $37,870 |
| 66227 | $1,800 | $1,800 | $1,800 | $1,800 | $1,800 |
Source: Ownwell
Property Tax Bills Across Lenexa, Missouri
In Lenexa, located in Morgan County, MO, property tax bills are calculated based on the assessed value of a home, which is a percentage of the property's market value. The local tax rate is then applied to this assessed value to determine the final tax bill. For instance, with a median home price of $4,300, the tax bill varies significantly, ranging from $53 at the 25th percentile to $296 at the 90th percentile. Several factors influence the tax bill, including the property's location within the county and any applicable exemptions or deductions. Homeowners in the 66215 zip code see a median tax bill of $209, which is consistent across different areas within this zip code. This amount is relatively low compared to the national median property tax rate of 0.99%. For homeowners, understanding these factors is crucial as property taxes can impact their overall financial planning and the affordability of homeownership in Lenexa.
Average Lenexa Tax Bill
$64
Average Morgan County Tax Bill
$420
Average Missouri Tax Bill
$1,606
Average United States Tax Bill
$2,690
Property Tax Bills Across Lenexa, Missouri
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 66215 | $93 | $137 | $209 | $282 | $325 |
| 66227 | $41 | $41 | $41 | $41 | $41 |
Source: Ownwell