Rayville, Missouri Property Taxes
The median property tax rate in Rayville, MO is 0.92%, slightly lower than the national median of 0.99% and significantly below the Missouri state median of 1.20%. With a median home value of $149,500 in Rayville, the typical annual property tax bill amounts to $1,375, which is notably less than the national median of $2,690. Property taxes in Rayville are calculated based on the tax assessed value, which is often lower than the market value due to various exemptions, such as those for primary residences and agricultural properties. Understanding Rayville'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 Rayville or another part of Morgan County, being informed about the local property tax system benefits both homeowners and real estate investors.
Last Updated June 14, 2024
Rayville, Missouri Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.92%
Estimate Property Tax Bill
$1,375
Ownwell’s Rayville Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Rayville with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Rayville 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 Rayville, Missouri
Property taxes in Rayville, Missouri, are essential for funding crucial local services such as public schools, road maintenance, and emergency services. The median tax rate in Rayville is 0.92%, slightly lower than the U.S. national median of 0.99%. Local government entities within Rayville set these rates annually, and they can vary significantly across different neighborhoods. Each year, Rayville 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 Rayville's effective property tax rate to other counties in Missouri and the national median. For comparison, the 64084 zip code has the highest median property tax rate of 0.92%, while the same zip code also has the lowest median tax rate of 0.92%. Understanding how these cities compare with Rayville provides valuable insights into the varying tax landscape across Rayville, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Rayville Tax Rate
0.92%
Average Morgan County Tax Rate
0.87%
Average Missouri Tax Rate
1.20%
Average United States Tax Rate
0.99%
Property Tax Rates Across Rayville, Missouri
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 64084 | 0.92% | 0.92% | 0.92% | 0.92% | 0.92% |
Source: Ownwell
Property Tax Assessment Values Across Rayville, Missouri
In Rayville, 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 Rayville, 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 Rayville helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The zip code 64084 has both the highest and lowest median tax bill at $1,375.
Average Rayville Assessed Value
$149,500
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 Rayville, Missouri
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 64084 | $149,500 | $149,500 | $149,500 | $149,500 | $149,500 |
Source: Ownwell
Property Tax Bills Across Rayville, Missouri
In Rayville, Missouri, property tax bills are calculated based on the assessed value of a home, which is determined by the county assessor's office. The assessed value is a percentage of the property's market value. Homeowners in Rayville can anticipate a property tax rate that aligns closely with the national median rate of 0.99%. Several factors influence the tax bill, including the property's location, size, and any improvements made. For instance, the median home price in Rayville is $149,500, and the typical property tax bill is around $1,375, which reflects the local tax rate applied to the assessed value. Homeowners with properties in the 25th, 75th, and 90th percentiles all see a tax bill of $1,375, indicating a consistent rate across different property values. This consistency in property tax bills helps homeowners in Rayville plan their finances better, knowing that their tax obligations are relatively predictable and stable compared to fluctuating rates in other regions.
Average Rayville Tax Bill
$1,375
Average Morgan County Tax Bill
$420
Average Missouri Tax Bill
$1,606
Average United States Tax Bill
$2,690
Property Tax Bills Across Rayville, Missouri
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 64084 | $1,375 | $1,375 | $1,375 | $1,375 | $1,375 |
Source: Ownwell