Doolittle, Missouri Property Taxes
The median property tax rate in Doolittle, MO is 0.85%, lower than both the national median of 0.99% and the Missouri state median of 0.97%. With a median home value of $109,500 in Doolittle, the typical annual property tax bill amounts to $930, which is below the national median of $2,690. Property taxes in Doolittle are calculated based on the tax assessed value, which often falls below the market value due to various exemptions like the primary residence and agricultural exemptions. Understanding Doolittle'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 Doolittle 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
Doolittle, 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 Doolittle Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Doolittle with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Doolittle 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 Doolittle, Missouri
Property taxes in Doolittle, Missouri, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Doolittle is 0.97%, which is lower than both the Missouri state median of 0.86% and the U.S. national median of 0.99%. Local government entities within Doolittle set these rates annually, and they can vary significantly across different neighborhoods. Each year, Doolittle 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 Doolittle's effective property tax rate to other counties in Missouri and the national median. For comparison, the highest median property tax rate in the county is 1.07%, while the lowest median tax rate is 0.97%. Understanding how these cities compare with Doolittle provides valuable insights into the varying tax landscape across Phelps County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Doolittle Tax Rate
0.99%
Average Phelps County Tax Rate
0.98%
Average Missouri Tax Rate
1.20%
Average United States Tax Rate
0.99%
Property Tax Rates Across Doolittle, Missouri
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 65401 | 0.99% | 0.99% | 0.99% | 0.99% | 1.05% |
Source: Ownwell
Property Tax Assessment Values Across Doolittle, Missouri
In Doolittle, 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 Phelps 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. Assessment notices in Doolittle 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 Doolittle helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The median home price in Doolittle is $106,250, with tax bills ranging from $922 at the 25th percentile to $1,356 at the 90th percentile. The highest and lowest median tax bills are both $1,092 in the 65401 zip code.
Average Doolittle Assessed Value
$106,250
Average Phelps County Assessed Value
$106,880
Average Missouri Assessed Value
$129,505
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Doolittle, Missouri
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 65401 | $66,345 | $92,505 | $106,250 | $111,240 | $116,876 |
Source: Ownwell
Property Tax Bills Across Doolittle, Missouri
In Doolittle, located in Phelps County, MO, property tax bills are determined 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 calculate the annual tax bill. For instance, with a median home price of $106,250, homeowners can expect to pay varying amounts depending on the specific assessed value and applicable tax rates. Several factors influence the final tax bill, including local government budgets, school funding requirements, and public service needs. Homeowners in Doolittle typically see tax bills ranging from $922 at the 25th percentile to $1,131 at the 75th percentile, with the 90th percentile reaching up to $1,356. This variability can significantly impact household budgets, making it crucial for homeowners to understand their property’s assessed value and the local tax rate. Comparing these figures to the national median property tax rate of 0.99%, Doolittle residents experience relatively moderate property taxes, which can affect overall affordability and long-term financial planning.
Average Doolittle Tax Bill
$1,092
Average Phelps County Tax Bill
$1,009
Average Missouri Tax Bill
$1,606
Average United States Tax Bill
$2,690
Property Tax Bills Across Doolittle, Missouri
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 65401 | $657 | $922 | $1,092 | $1,131 | $1,356 |
Source: Ownwell