Kingdom City, Missouri Property Taxes
The median property tax rate in Kingdom City, MO is 1.40%, considerably higher than both the national median of 0.99% and the Missouri state median of 1.20%. With the median home value in Kingdom City, the typical annual property tax bill reaches $28, which is significantly lower than the national median of $2,690. Property taxes in Kingdom City 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 Kingdom City'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 Kingdom City 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
Kingdom City, Missouri Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.4%
Estimate Property Tax Bill
$28
Ownwell’s Kingdom City Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Kingdom City with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Kingdom 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 the county for property tax calculations, accounting for any exemptions that may apply.
Property Tax Rates Across Kingdom City, Missouri
Property taxes in Kingdom City, Missouri, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Kingdom City is 1.40%, significantly higher than the U.S. national median of 0.99%. Local government entities within Kingdom City set these rates annually, and they can vary significantly across different neighborhoods. Each year, Kingdom 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 Kingdom City's effective property tax rate to other counties in Missouri and the national median. For comparison, the zip code 65262 has both the highest and lowest median property tax rate of 1.40%. Understanding how these cities compare with Kingdom City provides valuable insights into the varying tax landscape across Callaway County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Kingdom City Tax Rate
1.40%
Average Morgan County Tax Rate
0.87%
Average Missouri Tax Rate
1.20%
Average United States Tax Rate
0.99%
Property Tax Rates Across Kingdom City, Missouri
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 65262 | 1.40% | 1.40% | 1.40% | 1.40% | 1.40% |
Source: Ownwell
Property Tax Assessment Values Across Kingdom City, Missouri
In Kingdom 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 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 Kingdom 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 Kingdom City helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The zip codes with the highest and lowest tax bills are both $28, reflecting a uniform tax burden across the region.
Average Kingdom City Assessed Value
$2,000
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 Kingdom City, Missouri
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 65262 | $2,000 | $2,000 | $2,000 | $2,000 | $2,000 |
Source: Ownwell
Property Tax Bills Across Kingdom City, Missouri
In Kingdom City, located in Morgan County, MO, property tax bills are calculated based on the assessed value of the property. The assessed value is a percentage of the market value, which is determined by the local assessor's office. Once the assessed value is established, the local tax rate is applied to calculate the annual property tax bill. Factors such as property type, location, and any applicable exemptions play a crucial role in determining the final tax amount. Homeowners in Kingdom City can expect their property tax bills to vary significantly depending on these factors. For instance, the tax bill at the 25th, 75th, and 90th percentiles is consistently $28, indicating a relatively stable tax environment. Compared to the national median property tax rate of 0.99%, Kingdom City offers an affordable property tax landscape. This low tax burden can make homeownership more accessible and financially manageable for residents, potentially increasing property values and stimulating local economic growth.
Average Kingdom City Tax Bill
$28
Average Morgan County Tax Bill
$420
Average Missouri Tax Bill
$1,606
Average United States Tax Bill
$2,690
Property Tax Bills Across Kingdom City, Missouri
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 65262 | $28 | $28 | $28 | $28 | $28 |
Source: Ownwell