Rich Hill, Missouri Property Taxes
The median property tax rate in Rich Hill, MO is 1.11%, slightly higher than the national median of 0.99% but lower than the Missouri state median of 1.20%. With a median home value of $45,200, the typical annual property tax bill in Rich Hill reaches $468, which is significantly below the national median of $2,690. Property taxes in Rich Hill are calculated based on the tax assessed value, which is often lower than the market value due to exemptions like those for primary residences and agricultural properties. By understanding Rich Hill's property tax system, exploring available exemptions, and identifying opportunities for reductions, homeowners and real estate investors can achieve considerable annual savings. Whether you're in the heart of Rich Hill or another part of Bates County, familiarizing yourself with the local property tax system can provide substantial benefits.
Last Updated June 14, 2024
Rich Hill, Missouri Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.11%
Estimate Property Tax Bill
$502
Ownwell’s Rich Hill Property Tax Bill Calculator is an essential tool for homeowners, real estate investors, and prospective buyers to estimate their annual property taxes in Rich Hill with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Rich Hill 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 Rich Hill, Missouri
Property taxes in Rich Hill, Missouri, are essential for funding crucial local services such as public schools, road maintenance, and emergency services. The median tax rate in Rich Hill is 1.11%, which is higher than the U.S. national median of 0.99%. Local government entities within Rich Hill set these rates annually, and they can vary significantly across different neighborhoods. Each year, Rich Hill 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 Rich Hill's effective property tax rate to other areas and the national median. For comparison, the zip code 64779 has the highest median property tax rate of 1.11%, while the lowest median tax rate in the area is also 1.11%. Understanding how these cities compare with Rich Hill provides valuable insights into the varying tax landscape across Bates County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Rich Hill Tax Rate
1.11%
Average Bates County Tax Rate
1.06%
Average Missouri Tax Rate
1.20%
Average United States Tax Rate
0.99%
Property Tax Rates Across Rich Hill, Missouri
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 64779 | 0.80% | 0.92% | 1.11% | 1.12% | 1.23% |
Source: Ownwell
Property Tax Assessment Values Across Rich Hill, Missouri
In Rich Hill, 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 Bates 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 Rich Hill, 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. The median home price in Rich Hill is $45,200, with tax bills ranging from $284 at the 25th percentile to $1,451 at the 90th percentile. The highest and lowest median tax bills, both at $468, are found in the 64779 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 helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Rich Hill Assessed Value
$45,200
Average Bates County Assessed Value
$68,300
Average Missouri Assessed Value
$129,505
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Rich Hill, Missouri
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 64779 | $13,430 | $25,225 | $45,200 | $81,075 | $161,940 |
Source: Ownwell
Property Tax Bills Across Rich Hill, Missouri
In Rich Hill, located in Bates County, MO, property tax bills are calculated based on the assessed value of a home. This assessed value is a percentage of the property's market value, which is determined by local assessors. The tax rate, applied to this assessed value, is set by local taxing authorities and can vary depending on the specific needs of the community. Homeowners in Rich Hill can expect their property tax bills to fall within a wide range. For example, the tax bill at the 25th percentile is $284, while the 75th percentile reaches $765. At the 90th percentile, homeowners may pay up to $1,451. The median tax bill in the area is $468, which is significantly lower than the national median property tax rate of 0.99%. These property taxes fund essential local services such as schools, infrastructure, and public safety, directly impacting the quality of life for residents. Understanding how these taxes are calculated can help homeowners better anticipate their financial obligations and plan accordingly.
Average Rich Hill Tax Bill
$468
Average Bates County Tax Bill
$704
Average Missouri Tax Bill
$1,606
Average United States Tax Bill
$2,690
Property Tax Bills Across Rich Hill, Missouri
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 64779 | $150 | $284 | $468 | $765 | $1,451 |
Source: Ownwell