Davenport, Missouri Property Taxes
The median property tax rate in Davenport, MO is 0.85%, which is notably lower than both the national median of 0.99% and the Missouri state median of 1.20%. With the median home value in Davenport, the typical annual property tax bill amounts to $24, significantly less than the national median of $2,690. Property taxes in Davenport 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 Davenport'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 Davenport 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
Davenport, Missouri Property Tax Bill Calculator
$100,000
$2,500,000
$5,000,000
Average Tax Rate
1.2%
Estimate Property Tax Bill
$2,400
Ownwell’s Davenport Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Davenport with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Davenport 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 Davenport, Missouri
Property taxes in Davenport, Missouri, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Davenport is 1.25%, significantly higher than both the Missouri state median of 0.91% and the U.S. national median of 0.99%. Local government entities within Davenport set these rates annually, and they can vary significantly across different neighborhoods. Each year, Davenport 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 Davenport's effective property tax rate to other counties in Missouri and the national median. For comparison, the 64030 zip code has the highest median property tax rate of 1.38%, while the 64050 zip code has the lowest median tax rate of 0.75%. Understanding how these cities compare with Davenport 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 Davenport Tax Rate
0.85%
Average Morgan County Tax Rate
0.87%
Average Missouri Tax Rate
1.20%
Average United States Tax Rate
0.99%
Property Tax Rates Across Davenport, Missouri
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|
Source: Ownwell
Property Tax Assessment Values Across Davenport, Missouri
In Davenport, 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 Davenport, 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 Davenport helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Davenport Assessed Value
$2,800
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 Davenport, Missouri
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|
Source: Ownwell
Property Tax Bills Across Davenport, Missouri
In Davenport, Morgan County, MO, property tax bills are calculated based on the assessed value of a property. The assessed value is a percentage of the property's market value, which is determined by the county assessor. This value is then multiplied by the local tax rate to determine the annual tax bill. For instance, if a home has an assessed value of $2,800, the property tax bill will be calculated using this figure. Several factors influence the assessed value, including the property's size, location, and condition. Additionally, any improvements or renovations can increase the assessed value, leading to higher property taxes. Conversely, depreciation or damage can lower the assessed value. Homeowners in Davenport face property tax bills that can vary significantly. The 25th, 75th, and 90th percentiles of tax bills are all at $24, indicating a uniformity in tax obligations. Understanding these factors helps homeowners anticipate their property tax liabilities and better manage their finances. Compared to the national median property tax rate of 0.99%, Davenport's rates reflect the unique economic landscape of the region.
Average Davenport Tax Bill
$24
Average Morgan County Tax Bill
$420
Average Missouri Tax Bill
$1,606
Average United States Tax Bill
$2,690
Property Tax Bills Across Davenport, Missouri
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|
Source: Ownwell