King City, Missouri Property Taxes
The median property tax rate in King City, MO is 0.98%, slightly below both the national median of 0.99% and the Missouri state median of 1.20%. With a median home value of $68,060 in King City, the typical annual property tax bill amounts to $845, which is significantly lower than the national median of $2,690. Property taxes in King City are calculated based on the tax assessed value, often lower than the market value due to various exemptions like primary residence and agricultural exemptions. Understanding King 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 King 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
King City, Missouri Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.98%
Estimate Property Tax Bill
$667
Ownwell’s King City Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in King City with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in King 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 King City, Missouri
Property taxes in King City, Missouri, are crucial for funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in King City is 0.98%, which is slightly lower than the U.S. national median of 0.99%. Local government entities within King City set these rates annually, and they can vary significantly across different neighborhoods. Each year, King 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 King City's effective property tax rate to other counties in Missouri and the national median. For comparison, the zip code 64463 has both the highest and lowest median property tax rate in the area, standing at 0.98%. Understanding how these cities compare with King City provides valuable insights into the varying tax landscape across Andrew County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average King City Tax Rate
0.98%
Average Andrew County Tax Rate
1.22%
Average Missouri Tax Rate
1.20%
Average United States Tax Rate
0.99%
Property Tax Rates Across King City, Missouri
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 64463 | 0.81% | 0.81% | 0.98% | 1.26% | 1.28% |
Source: Ownwell
Property Tax Assessment Values Across King City, Missouri
In King 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 Andrew 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 King 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 King City helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The zip code 64463 has both the highest and lowest median tax bills at $845.
Average King City Assessed Value
$68,060
Average Andrew County Assessed Value
$108,235
Average Missouri Assessed Value
$129,505
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across King City, Missouri
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 64463 | $16,282 | $30,340 | $68,060 | $117,140 | $180,046 |
Source: Ownwell
Property Tax Bills Across King City, Missouri
In King City, MO, located in Andrew County, property tax bills are calculated based on the assessed value of a home. The assessed value is determined by the local tax assessor and typically represents a percentage of the property's market value. Once the assessed value is established, the property tax rate, or millage rate, is applied to calculate the annual tax bill. Several factors influence the assessed value, including the property's size, age, location, and any improvements or renovations made. The average median home price in King City is $68,060. Homeowners in the 25th percentile can expect a tax bill of approximately $246, while those in the 75th percentile might see a bill around $1,323. For those at the 90th percentile, the tax bill can reach up to $1,854. Comparatively, the national median property tax rate is 0.99%, which helps put King City's rates into perspective. These property taxes are crucial for funding local services such as schools, public safety, and infrastructure, directly impacting the community and homeowners.
Average King City Tax Bill
$845
Average Andrew County Tax Bill
$1,278
Average Missouri Tax Bill
$1,606
Average United States Tax Bill
$2,690
Property Tax Bills Across King City, Missouri
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 64463 | $137 | $246 | $845 | $1,323 | $1,854 |
Source: Ownwell