De Witt, Missouri Property Taxes
The median property tax rate in De Witt, MO is 1.07%, slightly higher than the national median of 0.99% but lower than Missouri’s state median of 1.20%. With a median home value of $42,766 in De Witt, the typical annual property tax bill amounts to $422, which is significantly below the national median of $2,690. Property taxes in De Witt are calculated based on the tax assessed value, often lower than the market value due to exemptions like those for primary residences and agricultural properties. Gaining a clear understanding of De Witt's property tax system, along with exploring available exemptions and identifying opportunities for reductions, can result in substantial annual savings. Whether you're situated in the heart of De Witt or another part of Carroll County, familiarizing yourself with the local property tax system can offer financial benefits to both homeowners and real estate investors.
Last Updated June 14, 2024
De Witt, Missouri Property Tax Bill Calculator
$100,000
$2,500,000
$5,000,000
Average Tax Rate
1.2%
Estimate Property Tax Bill
$2,400
Ownwell’s DE WITT Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in DE WITT with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in DE WITT 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 De Witt, Missouri
Property taxes in De Witt, Missouri, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in De Witt is 1.07%, which is higher than the U.S. national median of 0.99%. Local government entities within De Witt set these rates annually, and they can vary significantly across different neighborhoods. Each year, De Witt 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 De Witt's effective property tax rate to the national median. For comparison, the zip code 64639 has both the highest and lowest median property tax rate of 1.07%. Understanding how these cities compare with De Witt provides valuable insights into the varying tax landscape across Carroll County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average De Witt Tax Rate
1.07%
Average Carroll County Tax Rate
1.19%
Average Missouri Tax Rate
1.20%
Average United States Tax Rate
0.99%
Property Tax Rates Across De Witt, Missouri
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 64639 | 0.84% | 0.91% | 1.07% | 1.25% | 1.25% |
Source: Ownwell
Property Tax Assessment Values Across De Witt, Missouri
In De Witt, 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 local 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 De Witt, 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 De Witt helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. Notably, the highest and lowest median tax bills both stand at $422 in the 64639 zip code, reflecting the area's unique tax landscape.
Average De Witt Assessed Value
$42,766
Average Carroll County Assessed Value
$54,921
Average Missouri Assessed Value
$129,505
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across De Witt, Missouri
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 64639 | $7,404 | $18,202 | $42,766 | $89,300 | $141,420 |
Source: Ownwell
Property Tax Bills Across De Witt, Missouri
In DE WITT, MO, property tax bills are calculated based on the assessed value of a home, which is determined by the local assessor. This assessed value is a percentage of the market value of the property. The tax rate, or millage rate, is then applied to the assessed value to calculate the property tax bill. Factors such as the home's location within Carroll County, its size, and any applicable exemptions play a role in determining the final tax amount. Homeowners in DE WITT experience varying tax bills. For instance, the 25th percentile tax bill is $215, while the 75th percentile reaches $845, and the 90th percentile can go up to $1,334. Compared to the national median property tax rate of 0.99%, DE WITT's tax bills reflect both lower and higher ends of the spectrum, depending on individual property values and specific circumstances. These taxes are crucial for funding local services, including schools, roads, and emergency services, thereby directly impacting the community and homeowners.
Average De Witt Tax Bill
$422
Average Carroll County Tax Bill
$634
Average Missouri Tax Bill
$1,606
Average United States Tax Bill
$2,690
Property Tax Bills Across De Witt, Missouri
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 64639 | $90 | $215 | $422 | $845 | $1,334 |
Source: Ownwell