North Kansas City, Missouri Property Taxes
The median property tax rate in North Kansas City, MO is 1.43%, considerably higher than both the national median of 0.99% and the Missouri state median of 1.20%. With the median home value in North Kansas City, the typical annual property tax bill reaches $2,425, slightly below the national median of $2,690. Property taxes in North Kansas City 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 North Kansas City'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 North Kansas City 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
North Kansas City, 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 North Kansas City Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in North Kansas City with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in North Kansas City 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 North Kansas City, Missouri
Property taxes in North Kansas City, Missouri, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in North Kansas City is 1.43%, which is significantly higher than the Missouri state median and also exceeds the U.S. national median of 0.99%. Local government entities within North Kansas City set these rates annually, and they can vary significantly across different neighborhoods. Each year, North Kansas City 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 North Kansas City's effective property tax rate to other counties in Missouri and the national median. For comparison, the zip code 64116 in North Kansas City has both the highest and lowest median property tax rate of 1.43%. Understanding how these cities compare with North Kansas City provides valuable insights into the varying tax landscape across Platte County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average North Kansas City Tax Rate
1.43%
Average Platte County Tax Rate
1.45%
Average Missouri Tax Rate
1.20%
Average United States Tax Rate
0.99%
Property Tax Rates Across North Kansas City, Missouri
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 64116 | 1.43% | 1.43% | 1.43% | 1.43% | 1.43% |
Source: Ownwell
Property Tax Assessment Values Across North Kansas City, Missouri
In North Kansas City, 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 Platte 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 North Kansas City, 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 North Kansas City helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The median home price in North Kansas City is $169,626, with the highest and lowest median tax bills both reported at $2,425 in the 64116 zip code.
Property Tax Assessment Values Across North Kansas City, Missouri
Source: Ownwell
$42,000
$277,975
$513,950
Average North Kansas City Assessed Value
$169,626
Average Platte County Assessed Value
$243,632
Average Missouri Assessed Value
$129,505
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across North Kansas City, Missouri
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 64116 | $169,626 | $169,626 | $169,626 | $169,626 | $169,626 |
Source: Ownwell
Property Tax Bills Across North Kansas City, Missouri
In North Kansas City, located in Platte County, MO, property tax bills are calculated based on the assessed value of a home, which is a percentage of its market value. The assessed value is then multiplied by the local tax rate to determine the annual tax bill. For instance, homeowners in North Kansas City face a median property tax rate that results in an annual tax bill of $2,425, regardless of the home's specific assessed value. This uniform tax bill across various percentiles indicates a standardized approach in the region. Factors such as the property's market value, local tax rates, and any applicable exemptions or deductions influence the final tax amount. Homeowners need to stay informed about these factors, as they directly impact their financial obligations. Compared to the national median property tax rate of 0.99%, North Kansas City's tax rate results in a significant annual tax bill, affecting homeowners' budgets and potentially influencing decisions on property investments in the area.
Average North Kansas City Tax Bill
$2,425
Average Platte County Tax Bill
$3,540
Average Missouri Tax Bill
$1,606
Average United States Tax Bill
$2,690
Property Tax Bills Across North Kansas City, Missouri
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 64116 | $2,425 | $2,425 | $2,425 | $2,425 | $2,425 |
Source: Ownwell