Dade City, Missouri Property Taxes
The median property tax rate in Dade City, MO is 0.76%, significantly lower than both the national median of 0.99% and Missouri's state median of 1.20%. With the median home value in Dade City, the typical annual property tax bill is just $22, far below the national median of $2,690. Property taxes in Dade City are calculated based on the assessed value, which often falls below the market value due to various exemptions, such as those for primary residences and agricultural properties. Understanding Dade City's property tax system, exploring available exemptions, and identifying opportunities for reductions can lead to substantial annual savings. Whether you're in the heart of Dade City or another part of Morgan County, grasping the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Dade City, Missouri Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.76%
Estimate Property Tax Bill
$22
Ownwell’s Dade City Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Dade City with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Dade City 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 Morgan County for property tax calculations, accounting for any exemptions that may apply.
Property Tax Rates Across Dade City, Missouri
Property taxes in Dade City, Missouri, are crucial in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Dade City is 0.76%, which is lower than both the Missouri state median and the U.S. national median of 0.99%. Local government entities within Dade City set these rates annually, and they can vary significantly across different neighborhoods. Each year, Dade City 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 Dade City's effective property tax rate to other areas in Missouri and the national median. For comparison, the zip code 33525 has both the highest and lowest median property tax rate of 0.76%. Understanding how these areas compare with Dade City provides valuable insights into the varying tax landscape across Morgan County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Dade City Tax Rate
0.76%
Average Morgan County Tax Rate
0.87%
Average Missouri Tax Rate
1.20%
Average United States Tax Rate
0.99%
Property Tax Rates Across Dade City, Missouri
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 33525 | 0.76% | 0.76% | 0.76% | 0.76% | 0.76% |
Source: Ownwell
Property Tax Assessment Values Across Dade City, Missouri
In Dade City, 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 Morgan 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 Dade City, 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 Dade City helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Dade City Assessed Value
$2,900
Average Morgan County Assessed Value
$49,350
Average Missouri Assessed Value
$129,505
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Dade City, Missouri
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 33525 | $2,900 | $2,900 | $2,900 | $2,900 | $2,900 |
Source: Ownwell
Property Tax Bills Across Dade City, Missouri
In Dade City, property tax bills are calculated based on the assessed value of a property, which is determined by the county assessor's office. The assessed value is a percentage of the market value of the property. This assessed value is then multiplied by the local tax rate to determine the final tax bill. Several factors are considered in this calculation, including the property's location, size, and any improvements made. For example, properties in Morgan County, where Dade City is located, have a median home price of $2,900. The tax bills in this area range from $22 at the 25th percentile to $22 at the 90th percentile, indicating a relatively consistent tax burden across different property values. For homeowners, understanding these factors is crucial as it directly impacts their annual expenses. With the national median property tax rate at 0.99%, Dade City's rates offer a comparative perspective for residents, helping them plan and budget accordingly. This system ensures that each homeowner contributes fairly based on the value of their property.
Average Dade City Tax Bill
$22
Average Morgan County Tax Bill
$420
Average Missouri Tax Bill
$1,606
Average United States Tax Bill
$2,690
Property Tax Bills Across Dade City, Missouri
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 33525 | $22 | $22 | $22 | $22 | $22 |
Source: Ownwell