Rushville, Missouri Property Taxes
The median property tax rate in Rushville, MO is 1.24%, which is higher than both the national median of 0.99% and the Missouri state median of 1.20%. With a median home value of $62,620 in Rushville, the typical annual property tax bill is $777, surpassing the national median of $2,690. Property taxes in Rushville 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 Rushville'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 Rushville 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
Rushville, Missouri Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.24%
Estimate Property Tax Bill
$776
Ownwell’s Rushville Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Rushville with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Rushville 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 Rushville, Missouri
Property taxes in Rushville, Missouri, are crucial for funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Rushville is 1.24%, significantly higher than the U.S. national median of 0.99%. Local government entities within Rushville set these rates annually, and they can vary significantly across different neighborhoods. Each year, Rushville 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 Rushville's effective property tax rate to other counties in Missouri and the national median. For comparison, the zip code 64484 has both the highest and lowest median property tax rate of 1.24%. Understanding how these areas compare with Rushville provides valuable insights into the varying tax landscape across Buchanan County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Rushville Tax Rate
1.24%
Average Buchanan County Tax Rate
1.25%
Average Missouri Tax Rate
1.20%
Average United States Tax Rate
0.99%
Property Tax Rates Across Rushville, Missouri
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 64484 | 1.12% | 1.22% | 1.24% | 1.34% | 1.38% |
Source: Ownwell
Property Tax Assessment Values Across Rushville, Missouri
In Rushville, 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 Buchanan County officials 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 Rushville, 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 median home price in Rushville is $62,620, with tax bills ranging from $443 at the 25th percentile to $1,886 at the 90th percentile. The zip code with the highest median tax bill is 64484, with a tax bill of $777. By understanding these valuation concepts, property owners can better navigate their tax responsibilities and identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Rushville Assessed Value
$62,620
Average Buchanan County Assessed Value
$72,855
Average Missouri Assessed Value
$129,505
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Rushville, Missouri
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 64484 | $20,650 | $34,240 | $62,620 | $98,895 | $159,080 |
Source: Ownwell
Property Tax Bills Across Rushville, Missouri
In Rushville, located in Buchanan County, MO, property tax bills are calculated based on the assessed value of a property, which is a percentage of its market value. The median home price in Rushville is $62,620, which serves as a baseline for calculating property taxes. The local property tax rate is applied to this assessed value to determine the annual tax bill. Several factors influence the final tax bill, including the property's location within specific tax districts, any applicable exemptions, and the local government's budgetary needs. For instance, tax bills can vary significantly; the 25th percentile tax bill is $443, while the 75th percentile tax bill is $1,286. The 90th percentile tax bill can reach up to $1,886, reflecting the range of property values and tax rates within the area. For homeowners, understanding these factors is crucial as property taxes directly impact annual housing costs. Comparing these figures to the national median property tax rate of 0.99% provides context for evaluating the local tax burden.
Average Rushville Tax Bill
$777
Average Buchanan County Tax Bill
$904
Average Missouri Tax Bill
$1,606
Average United States Tax Bill
$2,690
Property Tax Bills Across Rushville, Missouri
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 64484 | $259 | $443 | $777 | $1,286 | $1,886 |
Source: Ownwell