Randolph, Missouri Property Taxes
The median property tax rate in Randolph, MO is 1.14%, slightly higher than the national median of 0.99% but below the Missouri state median of 1.20%. With a median home value of $95,210 in Randolph, the typical annual property tax bill is $1,089, which is less than the national median of $2,690. Property taxes in Randolph are calculated based on the assessed value, which is often lower than the market value due to exemptions like primary residence and agricultural exemptions. Understanding Randolph'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 Randolph or another part of Clay County, understanding the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Randolph, 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 Randolph Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Randolph with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Randolph 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 Randolph, Missouri
Property taxes in Randolph, Missouri, are crucial in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Randolph is 1.25%, significantly higher than both the Missouri state median of 0.91% and the U.S. national median of 0.99%. Local government entities within Randolph set these rates annually, and they can vary significantly across different neighborhoods. Each year, Randolph 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 Randolph's effective property tax rate to other counties in Missouri and the national median. For comparison, the zip code 64161 has the highest median property tax rate of 1.25%, while the same zip code also has the lowest median tax rate of 1.25%. Understanding how these cities compare with Randolph provides valuable insights into the varying tax landscape across Clay County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Randolph Tax Rate
1.14%
Average Clay County Tax Rate
1.34%
Average Missouri Tax Rate
1.20%
Average United States Tax Rate
0.99%
Property Tax Rates Across Randolph, Missouri
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 64161 | 1.12% | 1.13% | 1.14% | 1.16% | 1.22% |
Source: Ownwell
Property Tax Assessment Values Across Randolph, Missouri
In Randolph, 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 authorities 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 Randolph, 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 Randolph helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. Notably, the highest median tax bill in Randolph is $1,089 in the 64161 zip code, while the lowest is also $1,089 in the same zip code.
Average Randolph Assessed Value
$95,210
Average Clay County Assessed Value
$203,105
Average Missouri Assessed Value
$129,505
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Randolph, Missouri
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 64161 | $59,910 | $72,079 | $95,210 | $116,842 | $166,479 |
Source: Ownwell
Property Tax Bills Across Randolph, Missouri
In Randolph, located in Clay County, MO, property tax bills are calculated based on the assessed value of a home, which is typically a percentage of its market value. The median home price in Randolph is $95,210, and the tax rate is applied to this assessed value to determine the annual tax bill. Various factors, such as property size, location, and improvements, influence the assessed value. For example, homes at the 25th percentile pay around $844 annually, while those at the 75th percentile pay approximately $1,313. At the 90th percentile, the tax bill can reach up to $1,906. Comparatively, the national median property tax rate is 0.99%, making Randolph's property tax rates relatively moderate. Homeowners in Randolph can expect their tax bills to vary significantly based on their property's assessed value, impacting their yearly financial planning. The highest median tax bill in the area, recorded in the 64161 zip code, stands at $1,089. Understanding these factors helps homeowners anticipate their property tax obligations accurately.
Average Randolph Tax Bill
$1,089
Average Clay County Tax Bill
$2,651
Average Missouri Tax Bill
$1,606
Average United States Tax Bill
$2,690
Property Tax Bills Across Randolph, Missouri
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 64161 | $722 | $844 | $1,089 | $1,313 | $1,906 |
Source: Ownwell