Riverside, Missouri Property Taxes
The median property tax rate in Riverside, MO is 1.24%, considerably higher than both the national median of 0.99% and the Missouri state median of 1.20%. With the median home value in Riverside, the typical annual property tax bill reaches $3,484, exceeding the national median of $2,690. Property taxes in Riverside 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 Riverside'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 Riverside 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
Riverside, Missouri Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.24%
Estimate Property Tax Bill
$3,277
Ownwell’s Riverside Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Riverside with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Riverside 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 Riverside, Missouri
Property taxes in Riverside, Missouri, are essential in funding crucial local services such as public schools, road maintenance, and emergency services. The median tax rate in Riverside is 1.24%, higher than both the Missouri state median and the U.S. national median of 0.99%. Local government entities within Riverside set these rates annually, and they can vary significantly across different neighborhoods. Each year, Riverside 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 Riverside's effective property tax rate to other counties in Missouri and the national median. For comparison, the 64150 zip code has the highest median property tax rate of 1.24%, while the same zip code also has the lowest median tax rate of 1.24%. Understanding how these cities compare with Riverside 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 Riverside Tax Rate
1.24%
Average Platte County Tax Rate
1.45%
Average Missouri Tax Rate
1.20%
Average United States Tax Rate
0.99%
Property Tax Rates Across Riverside, Missouri
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 64150 | 1.24% | 1.24% | 1.24% | 1.24% | 1.42% |
Source: Ownwell
Property Tax Assessment Values Across Riverside, Missouri
In Riverside, 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 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 Riverside, 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. For example, the highest median tax bill in the area is $3,451 in zip code 64150, while the lowest median tax bill is also $3,451 in the same zip code. 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 Riverside helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Riverside Assessed Value
$264,267
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 Riverside, Missouri
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 64150 | $140,477 | $184,680 | $274,914 | $443,633 | $584,497 |
Source: Ownwell
Property Tax Bills Across Riverside, Missouri
In Riverside, 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 median home price in Riverside is $264,267. The local property tax rate is applied to this assessed value to determine the annual tax bill. Various factors influence the tax bill, including the home's location, size, and condition, as well as any applicable exemptions or deductions. Homeowners in Riverside can expect their property tax bills to vary significantly. For instance, the tax bill at the 25th percentile is $2,285, while at the 75th percentile, it rises to $5,852. The 90th percentile tax bill reaches $7,782. These figures highlight the range of property tax burdens in the area, which can impact homeowners' finances differently. Compared to the national median property tax rate of 0.99%, Riverside's property tax rates reflect the local economic and housing market conditions, influencing how much residents ultimately pay.
Average Riverside Tax Bill
$3,484
Average Platte County Tax Bill
$3,540
Average Missouri Tax Bill
$1,606
Average United States Tax Bill
$2,690
Property Tax Bills Across Riverside, Missouri
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 64150 | $1,782 | $2,285 | $3,451 | $5,735 | $7,460 |
Source: Ownwell