Rockport, Missouri Property Taxes
The median property tax rate in Rockport, MO is 0.94%, slightly lower than both the national median of 0.99% and the Missouri state median of 1.20%. With the median home value in Rockport at $7,200, the typical annual property tax bill is $68, significantly below the national median of $2,690. Property taxes in Rockport are calculated based on the assessed value, which often falls below the market value due to exemptions such as primary residence and agricultural exemptions. Understanding Rockport'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 Rockport 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
Rockport, Missouri Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.94%
Estimate Property Tax Bill
$68
Ownwell’s Rockport Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Rockport with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Rockport 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 Rockport, Missouri
Property taxes in Rockport, Missouri, are essential for funding critical local services such as public schools, road maintenance, and emergency services. The median tax rate in Rockport is 0.94%, slightly lower than the U.S. national median of 0.99%. Local government entities within Rockport set these rates annually, and they can vary significantly across different neighborhoods. Each year, Rockport 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 Rockport's effective property tax rate to other areas in Missouri and the national median. For comparison, the zip code 64482 has the highest median property tax rate of 0.94%, while the same zip code also has the lowest median tax rate of 0.94%. Understanding how these areas compare with Rockport 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 Rockport Tax Rate
0.94%
Average Morgan County Tax Rate
0.87%
Average Missouri Tax Rate
1.20%
Average United States Tax Rate
0.99%
Property Tax Rates Across Rockport, Missouri
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 64482 | 0.94% | 0.94% | 0.94% | 0.94% | 0.94% |
Source: Ownwell
Property Tax Assessment Values Across Rockport, Missouri
In Rockport, 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 Rockport, 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 Rockport helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The median home price in Rockport is $7,200, with the 25th, 75th, and 90th percentile tax bills all at $68, providing a clear picture of the typical property tax landscape in the area.
Average Rockport Assessed Value
$7,200
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 Rockport, Missouri
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 64482 | $7,200 | $7,200 | $7,200 | $7,200 | $7,200 |
Source: Ownwell
Property Tax Bills Across Rockport, Missouri
In Rockport, located in Morgan County, MO, property tax bills are calculated based on the assessed value of a home. The assessed value is a percentage of the home's market value, which is determined by the county assessor. For example, with a median home price of $7,200, the assessed value is a fraction of this amount as stipulated by Missouri law. The tax rate, known as the mill rate, is then applied to the assessed value to calculate the tax bill. Factors such as the property's location, size, and condition can influence the assessed value. In Rockport, the property tax bill for most homeowners falls within a narrow range; the 25th, 75th, and 90th percentiles all report a tax bill of $68. This consistency indicates a stable property tax environment, offering predictability for homeowners. Compared to the national median property tax rate of 0.99%, Rockport's property taxes are relatively low, providing a financial advantage to residents and making homeownership more affordable.
Average Rockport Tax Bill
$68
Average Morgan County Tax Bill
$420
Average Missouri Tax Bill
$1,606
Average United States Tax Bill
$2,690
Property Tax Bills Across Rockport, Missouri
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 64482 | $68 | $68 | $68 | $68 | $68 |
Source: Ownwell