Breckenridge, Missouri Property Taxes
The median property tax rate in Breckenridge, MO is 1.26%, notably higher than both the national median of 0.99% and the Missouri state median of 1.20%. With the median home value in Breckenridge at $104,745, the typical annual property tax bill amounts to $1,311, surpassing the national median of $2,690. Property taxes in Breckenridge are calculated based on the assessed value, which often falls below the market value due to various exemptions, such as those for primary residences and agricultural properties. Understanding Breckenridge'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 Breckenridge 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
Breckenridge, 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 Breckenridge Property Tax Bill Calculator allows homeowners, real estate investors, and potential buyers to estimate their annual property taxes in Breckenridge with just two data inputs. By entering your property's estimated assessed value, the calculator uses the median tax rate in Breckenridge to provide an estimate of your property tax bill. This valuable tool helps you understand potential tax liabilities. For those interested in neighborhood-level trends, more localized information is available as you scroll down. Your property’s assessed value is determined by the county for property tax calculations and includes any applicable exemptions.
Property Tax Rates Across Breckenridge, Missouri
Property taxes in Breckenridge, Missouri, are crucial for funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Breckenridge stands at 1.26%, which is significantly higher than both the Missouri state median and the U.S. national median of 0.99%. Local government entities within Breckenridge set these rates annually, and they can vary significantly across different neighborhoods. Each year, Breckenridge 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. For comparison, the zip code 64625 has the highest median property tax rate of 1.26%, while the same zip code also has the lowest median tax rate of 1.26%. Understanding how these areas compare with Breckenridge provides valuable insights into the varying tax landscape across Daviess County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Breckenridge Tax Rate
1.26%
Average Daviess County Tax Rate
1.28%
Average Missouri Tax Rate
1.20%
Average United States Tax Rate
0.99%
Property Tax Rates Across Breckenridge, Missouri
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 64625 | 0.89% | 1.07% | 1.26% | 1.35% | 1.40% |
Source: Ownwell
Property Tax Assessment Values Across Breckenridge, Missouri
In Breckenridge, 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 for tax purposes by the local appraisal district. 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 Breckenridge, 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 Breckenridge helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. Notably, the zip code 64625 has both the highest and lowest median tax bills at $1,311.
Average Breckenridge Assessed Value
$104,745
Average Daviess County Assessed Value
$66,100
Average Missouri Assessed Value
$129,505
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Breckenridge, Missouri
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 64625 | $31,365 | $61,548 | $104,745 | $161,352 | $203,235 |
Source: Ownwell
Property Tax Bills Across Breckenridge, Missouri
In Breckenridge, located in Daviess County, MO, property tax bills are calculated based on the assessed value of a home, which is a percentage of its market value. The median home price in this area is $104,745. Local tax authorities determine the assessed value, and then apply the local tax rate to this figure to calculate the tax bill. Factors such as property improvements, neighborhood developments, and changes in market conditions can influence the assessed value. Homeowners in Breckenridge can expect varied tax bills. For instance, the 25th percentile tax bill is around $690, while the 75th percentile tax bill is approximately $1909. Those in the 90th percentile might see tax bills as high as $2404. Comparing these figures to the national median property tax rate of 0.99%, it's evident that property taxes in Breckenridge can significantly impact homeowners' finances, especially for those with higher assessed property values. The highest and lowest median tax bills in the area both stand at $1311, indicating some level of consistency within certain zip codes.
Average Breckenridge Tax Bill
$1,311
Average Daviess County Tax Bill
$845
Average Missouri Tax Bill
$1,606
Average United States Tax Bill
$2,690
Property Tax Bills Across Breckenridge, Missouri
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 64625 | $322 | $690 | $1,311 | $1,909 | $2,404 |
Source: Ownwell