Raymore, Missouri Property Taxes
The median property tax rate in Raymore, MO is 1.55%, considerably higher than both the national median of 0.99% and the Missouri state median of 1.20%. With the median home value in Raymore at $185,230, the typical annual property tax bill reaches $2,868, exceeding the national median of $2,690. Property taxes in Raymore are calculated based on the tax assessed value, which typically falls below the market value due to various exemptions like the primary residence and agricultural exemptions. Understanding Raymore'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 Raymore 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
Raymore, Missouri Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.55%
Estimate Property Tax Bill
$2,871
Ownwell’s Raymore Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Raymore with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Raymore 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 Raymore, Missouri
Property taxes in Raymore, Missouri, are crucial for funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Raymore is 1.55%, significantly higher than the U.S. national median of 0.99%. Local government entities within Raymore set these rates annually, and they can vary across different neighborhoods. Each year, Raymore 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 Raymore's effective property tax rate to other areas in Missouri and the national median. For comparison, the 64083 zip code in Raymore has the highest median property tax rate of 1.55%, while the same zip code also has the lowest median tax rate of 1.55%. Understanding how these figures compare with Raymore provides valuable insights into the varying tax landscape across Cass County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Raymore Tax Rate
1.55%
Average Cass County Tax Rate
1.46%
Average Missouri Tax Rate
1.20%
Average United States Tax Rate
0.99%
Property Tax Rates Across Raymore, Missouri
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 64083 | 1.55% | 1.55% | 1.55% | 1.55% | 1.55% |
Source: Ownwell
Property Tax Assessment Values Across Raymore, Missouri
In Raymore, 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 Cass 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 Raymore, 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 Raymore helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The highest and lowest median tax bills in Raymore both stand at $2,868, specifically in the 64083 zip code.
Average Raymore Assessed Value
$185,230
Average Cass County Assessed Value
$149,060
Average Missouri Assessed Value
$129,505
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Raymore, Missouri
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 64083 | $113,688 | $146,060 | $185,230 | $241,880 | $311,690 |
Source: Ownwell
Property Tax Bills Across Raymore, Missouri
In RAYMORE, located in Cass County, MO, property tax bills are determined based on the assessed value of a home, which is a percentage of its market value. The median home price in Raymore is $185,230. Property tax rates in this region are influenced by local government budgets and the needs of public services such as schools and infrastructure. Homeowners in Raymore can expect their tax bills to vary significantly, with the 25th percentile tax bill being $2,263 and the 75th percentile reaching $3,808. The 90th percentile tax bill can go up to $4,827, highlighting the range of possible tax obligations. The highest and lowest median tax bills in the area are both recorded at $2,868, specifically in the 64083 zip code. Compared to the national median property tax rate of 0.99%, Raymore's property taxes can be relatively high, impacting homeowners by increasing their annual expenses. This variation in tax bills can affect household budgets and the overall affordability of living in Raymore.
Average Raymore Tax Bill
$2,868
Average Cass County Tax Bill
$2,217
Average Missouri Tax Bill
$1,606
Average United States Tax Bill
$2,690
Property Tax Bills Across Raymore, Missouri
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 64083 | $1,792 | $2,263 | $2,868 | $3,808 | $4,827 |
Source: Ownwell