Raytown, Missouri Property Taxes
The median property tax rate in Raytown, MO is 0.88%, notably lower than both the national median of 0.99% and the Missouri state median of 1.20%. With the median home value in Raytown at $76,900, the typical annual property tax bill is approximately $732, which is significantly below the national median of $2,690. Property taxes in Raytown are calculated based on the tax assessed value, often lower than the market value due to various exemptions such as those for primary residences and agricultural properties. By understanding Raytown's property tax system, exploring available exemptions, and identifying opportunities for reductions, homeowners can achieve substantial annual savings. Whether you reside in the heart of Raytown or its surrounding areas, having a grasp of the local property tax system can prove beneficial for both homeowners and real estate investors.
Last Updated June 14, 2024
Raytown, Missouri Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.88%
Estimate Property Tax Bill
$677
Ownwell’s Raytown Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Raytown with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Raytown 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 Raytown, Missouri
Property taxes in Raytown, Missouri, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Raytown is 0.88%, which is below the U.S. national median of 0.99%. Local government entities within Raytown set these rates annually, and they can vary significantly across different neighborhoods. Each year, Raytown 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 Raytown's effective property tax rate to other areas in Missouri and the national median. For comparison, the 64133 zip code has the highest median property tax rate of 0.90%, while the 64138 zip code has the lowest median tax rate of 0.88%. Understanding how these areas compare with Raytown provides valuable insights into the varying tax landscape across Jackson County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Raytown Tax Rate
0.88%
Average Morgan County Tax Rate
0.87%
Average Missouri Tax Rate
1.20%
Average United States Tax Rate
0.99%
Property Tax Rates Across Raytown, Missouri
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 64133 | 0.79% | 0.85% | 0.90% | 0.96% | 1.14% |
| 64138 | 0.59% | 0.75% | 0.88% | 0.95% | 0.95% |
Source: Ownwell
Property Tax Assessment Values Across Raytown, Missouri
In Raytown, 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 Raytown, 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. For example, the zip code 64138 has the highest median tax bill at $1,114, while the zip code 64133 has the lowest at $460. 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 Raytown helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Raytown Assessed Value
$76,900
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 Raytown, Missouri
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 64133 | $8,900 | $12,275 | $56,150 | $99,375 | $141,240 |
| 64138 | $8,180 | $33,800 | $153,500 | $180,325 | $210,160 |
Source: Ownwell
Property Tax Bills Across Raytown, Missouri
In Raytown, located in Morgan County, MO, property tax bills are calculated based on the assessed value of a home, which is a percentage of its market value. The median home price in Raytown is $76,900, and local tax rates are applied to this assessed value to determine the tax bill. Factors influencing the tax bill include the property's assessed value, local tax rates, and applicable exemptions or deductions. Homeowners in Raytown can see a wide range of tax bills, with the 25th percentile at $104 and the 75th percentile at $1,213. The 90th percentile tax bill reaches up to $1,421, indicating that some homeowners pay significantly more than others. The highest median tax bill in the area is $1,114 in the 64138 zip code, while the lowest median tax bill is $460 in the 64133 zip code. These variations can impact homeowners' financial planning and the overall affordability of living in Raytown, especially when compared to the national median property tax rate of 0.99%.
Average Raytown Tax Bill
$732
Average Morgan County Tax Bill
$420
Average Missouri Tax Bill
$1,606
Average United States Tax Bill
$2,690
Property Tax Bills Across Raytown, Missouri
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 64133 | $84 | $104 | $460 | $918 | $1,253 |
| 64138 | $77 | $325 | $1,114 | $1,324 | $1,413 |
Source: Ownwell