Ravenwood, Missouri Property Taxes
The median property tax rate in Ravenwood, MO is 1.42%, considerably higher than both the national median of 0.99% and the Missouri state median of 1.20%. With the median home value in Ravenwood at $106,090, the typical annual property tax bill reaches $1,530, which is still below the national median of $2,690. Property taxes in Ravenwood are calculated based on the assessed value, which typically falls below the market value due to various exemptions like the primary residence and agricultural exemptions. Understanding Ravenwood'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 Ravenwood or another part of Gentry County, understanding the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Ravenwood, Missouri Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.42%
Estimate Property Tax Bill
$1,506
Ownwell’s Ravenwood Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Ravenwood with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Ravenwood 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 Ravenwood, Missouri
Property taxes in Ravenwood, Missouri, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Ravenwood is 1.42%, significantly higher than the U.S. national median of 0.99%. Local government entities within Ravenwood set these rates annually, and they can vary significantly across different neighborhoods. Each year, Ravenwood 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 Ravenwood's effective property tax rate to other counties in Missouri and the national median. For comparison, the 64479 zip code has the highest median property tax rate of 1.42%, while the same zip code also has the lowest median tax rate of 1.42%. Understanding how these cities compare with Ravenwood provides valuable insights into the varying tax landscape across Nodaway County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Ravenwood Tax Rate
1.42%
Average Gentry County Tax Rate
1.36%
Average Missouri Tax Rate
1.20%
Average United States Tax Rate
0.99%
Property Tax Rates Across Ravenwood, Missouri
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 64479 | 1.11% | 1.28% | 1.42% | 1.59% | 1.71% |
Source: Ownwell
Property Tax Assessment Values Across Ravenwood, Missouri
In Ravenwood, 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 Gentry 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 Ravenwood, 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 Ravenwood helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The highest median tax bill in Ravenwood is $1530 in the zip code 64479, while the lowest median tax bill is also $1530 in the same zip code.
Average Ravenwood Assessed Value
$106,090
Average Gentry County Assessed Value
$52,950
Average Missouri Assessed Value
$129,505
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Ravenwood, Missouri
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 64479 | $48,716 | $63,370 | $106,090 | $137,455 | $208,326 |
Source: Ownwell
Property Tax Bills Across Ravenwood, Missouri
In Ravenwood, located in Gentry County, MO, property tax bills are calculated based on the assessed value of a homeowner's property. The assessed value is determined by the county assessor and is a percentage of the property's market value. The tax rate, which is set by local taxing authorities, is then applied to this assessed value to determine the annual property tax bill. Several factors influence the final tax bill, including the property's assessed value, the local tax rate, and any applicable exemptions or deductions. For instance, the median home price in Ravenwood is $106,090, and property tax bills can vary significantly. Homeowners in the 25th percentile can expect a tax bill around $922, while those in the 75th percentile may see bills as high as $2,030. At the 90th percentile, tax bills can reach up to $3,237. These property taxes fund essential public services such as schools, infrastructure, and emergency services, directly impacting the quality of life for Ravenwood residents. Understanding how these taxes are calculated helps homeowners better manage their finances and plan for future expenses.
Average Ravenwood Tax Bill
$1,530
Average Gentry County Tax Bill
$746
Average Missouri Tax Bill
$1,606
Average United States Tax Bill
$2,690
Property Tax Bills Across Ravenwood, Missouri
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 64479 | $615 | $922 | $1,530 | $2,030 | $3,237 |
Source: Ownwell