Raleigh, Missouri Property Taxes
The median property tax rate in Raleigh, MO is 0.90%, slightly below the national median of 0.99% and the Missouri state median of 1.20%. With the median home value in Raleigh, the typical annual property tax bill reaches $18, significantly lower than the national median of $2,690. Property taxes in Raleigh are calculated based on the tax assessed value, which often falls below the market value due to exemptions such as those for primary residences and agricultural properties. Understanding Raleigh'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 Raleigh or another part of Morgan County, familiarizing yourself with the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Raleigh, Missouri Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.9%
Estimate Property Tax Bill
$18
Ownwell’s Raleigh Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Raleigh with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Raleigh 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 Raleigh, Missouri
Property taxes in Raleigh, Missouri, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Raleigh is 0.90%, which is slightly below the U.S. national median of 0.99%. Local government entities within Raleigh set these rates annually, and they can vary significantly across different neighborhoods. Each year, Raleigh 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 Raleigh's effective property tax rate to other areas and the national median. For comparison, the zip code 27613 has both the highest and lowest median property tax rate of 0.90%. Understanding how these areas compare with Raleigh 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 Raleigh Tax Rate
0.90%
Average Morgan County Tax Rate
0.87%
Average Missouri Tax Rate
1.20%
Average United States Tax Rate
0.99%
Property Tax Rates Across Raleigh, Missouri
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 27613 | 0.90% | 0.90% | 0.90% | 0.90% | 0.90% |
Source: Ownwell
Property Tax Assessment Values Across Raleigh, Missouri
In Raleigh, 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 Raleigh, 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 Raleigh helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Raleigh 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 Raleigh, Missouri
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 27613 | $2,000 | $2,000 | $2,000 | $2,000 | $2,000 |
Source: Ownwell
Property Tax Bills Across Raleigh, Missouri
In Raleigh, located in Morgan County, MO, property tax bills are calculated based on the assessed value of a property, which is different from its market value. The assessed value is determined by the county assessor and typically represents a percentage of the market value. This assessed value is then multiplied by the local tax rate to calculate the annual property tax bill. Several factors influence the assessed value, including the property's size, location, condition, and any improvements made. For homeowners in Raleigh, the property tax rate can significantly impact their annual expenses. The median home price is relatively low at $2,000, leading to lower tax bills compared to the national median property tax rate of 0.99%. In fact, the tax bill for properties at the 25th, 75th, and 90th percentiles in Raleigh is consistently $18. Understanding how these factors interplay helps homeowners anticipate their financial obligations and plan accordingly, ensuring they are prepared for their annual tax responsibilities.
Average Raleigh Tax Bill
$18
Average Morgan County Tax Bill
$420
Average Missouri Tax Bill
$1,606
Average United States Tax Bill
$2,690
Property Tax Bills Across Raleigh, Missouri
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 27613 | $18 | $18 | $18 | $18 | $18 |
Source: Ownwell