Kingdom City, Callaway County, Missouri Property Taxes
The median property tax rate in Kingdom City, MO is 1.18%, slightly higher than the national median of 0.99% but just below the Missouri state median of 1.20%. With a median home value of $117,285 in Kingdom City, the typical annual property tax bill amounts to $1,318, which is below the national median of $2,690. Property taxes in Kingdom City are based on the tax assessed value, often lower than the market value due to exemptions like 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 Callaway County, grasping the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Kingdom City, Callaway County, Missouri Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.18%
Estimate Property Tax Bill
$1,384
$1,284
Ownwell’s Kingdom City Property Tax Bill Calculator enables homeowners, real estate investors, and potential buyers to 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, Callaway County, Missouri
Property taxes in Kingdom City, Missouri, are essential for funding critical local services such as public schools, road maintenance, and emergency services. The median tax rate in Kingdom City is 1.18%, which is higher than both the Missouri state median and 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 areas in Missouri and the national median. For comparison, the zip code 65262 has both the highest and lowest median property tax rate of 1.18%. 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
1.18%
Average Callaway County Tax Rate
1.19%
Average Missouri Tax Rate
1.20%
Average United States Tax Rate
0.99%
Property Tax Rates Across Kingdom City, Callaway County, Missouri
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 65262 | 0.74% | 1.05% | 1.18% | 1.23% | 1.31% |
Source: Ownwell
Property Tax Assessment Values Across Kingdom City, Callaway County, 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 Callaway 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 highest and lowest median tax bills in the area are both $1,318, found in the 65262 zip code.
Property Tax Assessment Values Across Kingdom City, Callaway County, Missouri
Source: Ownwell
$41,010
$92,250
$143,490
Average Kingdom City Assessed Value
$117,285
Average Callaway County Assessed Value
$118,130
Average Missouri Assessed Value
$129,505
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Kingdom City, Callaway County, Missouri
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 65262 | $25,675 | $66,492 | $117,285 | $180,228 | $252,760 |
Source: Ownwell
Property Tax Bills Across Kingdom City, Callaway County, Missouri
In Kingdom City, located in Callaway County, MO, property tax bills are determined by the assessed value of a home and the local tax rate. The median home price in this area is $117,285. Property taxes are calculated by multiplying the assessed value by the local property tax rate, which varies based on local government budgets and needs. For example, if the local tax rate is 1.12%, a home valued at the median price would have an estimated tax bill of around $1,318, which aligns with the highest and lowest median tax bills reported for the area. Factors influencing the tax bill include the property's market value, any applicable exemptions, and the specific tax rate set by local authorities. Homeowners in Kingdom City can expect tax bills ranging from $701 at the 25th percentile to $2,831 at the 90th percentile. Compared to the national median property tax rate of 0.99%, Kingdom City’s rates reflect local economic conditions and funding requirements, impacting homeowners' annual financial planning.
Average Kingdom City Tax Bill
$1,318
Average Callaway County Tax Bill
$1,342
Average Missouri Tax Bill
$1,606
Average United States Tax Bill
$2,690
Property Tax Bills Across Kingdom City, Callaway County, Missouri
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 65262 | $303 | $701 | $1,318 | $2,033 | $2,831 |
Source: Ownwell