Duke, Missouri Property Taxes
The median property tax rate in Duke, MO is 0.70%, considerably lower than both the national median of 0.99% and the Missouri state median of 1.20%. With the median home value in Duke, the typical annual property tax bill reaches $808, significantly below the national median of $2,690. Property taxes in Duke 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 Duke'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 Duke 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
Duke, Missouri Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.7%
Estimate Property Tax Bill
$537
Ownwell’s Duke Property Tax Bill Calculator is a valuable tool for homeowners, real estate investors, and potential buyers to estimate their annual property taxes in Duke with just two data points. By entering your property's estimated assessed value, the calculator uses the median tax rate in Duke to provide an estimated 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 Duke, Missouri
Property taxes in Duke, Missouri, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Duke is 0.70%, which is lower than both the Missouri state median and the U.S. national median of 0.99%. Local government entities within Duke set these rates annually, and they can vary significantly across different neighborhoods. Each year, Duke 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 Duke's effective property tax rate to other counties in Missouri and the national median. For comparison, the 65461 zip code has the highest median property tax rate of 0.70%, while the same zip code also has the lowest median tax rate of 0.70%. Understanding how these cities compare with Duke provides valuable insights into the varying tax landscape across Pulaski County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Duke Tax Rate
0.70%
Average Pulaski County Tax Rate
0.74%
Average Missouri Tax Rate
1.20%
Average United States Tax Rate
0.99%
Property Tax Rates Across Duke, Missouri
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 65461 | 0.67% | 0.68% | 0.70% | 0.86% | 1.10% |
Source: Ownwell
Property Tax Assessment Values Across Duke, Missouri
In Duke, 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 Pulaski 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 Duke, 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 Duke helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The zip code 65461 has the highest and lowest median tax bill, both at $808.
Average Duke Assessed Value
$76,690
Average Pulaski County Assessed Value
$115,944
Average Missouri Assessed Value
$129,505
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Duke, Missouri
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 65461 | $53,535 | $63,064 | $76,690 | $108,580 | $171,178 |
Source: Ownwell
Property Tax Bills Across Duke, Missouri
Property tax bills in Duke, located in Pulaski County, MO, are calculated based on the assessed value of a home and the local tax rate. The assessed value is a percentage of the property's market value, which is determined by the county assessor. For instance, if a home in Duke has a median home price of $76,690, the assessed value would be a fraction of this amount, as set by state regulations. The local tax rate is then applied to the assessed value to calculate the property tax bill. Several factors influence the property tax bill, including the property's location, market trends, and any applicable exemptions. In Duke, the median tax bill is $808, which is below the national median property tax rate of 0.99%. Homeowners in Duke can expect their tax bills to range from $423 at the 25th percentile to $1,178 at the 90th percentile. These tax bills directly impact homeowners' annual expenses, making it vital to understand how they are determined and what factors can affect them.
Average Duke Tax Bill
$808
Average Pulaski County Tax Bill
$872
Average Missouri Tax Bill
$1,606
Average United States Tax Bill
$2,690
Property Tax Bills Across Duke, Missouri
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 65461 | $359 | $423 | $808 | $949 | $1,178 |
Source: Ownwell