Cameron, Missouri Property Taxes
The median property tax rate in Cameron, MO is 1.29%, higher than both the national median of 0.99% and Missouri's state median of 1.20%. With a median home value of $65,455 in Cameron, the typical annual property tax bill is $822, which is below the national median of $2,690. Property taxes in Cameron are calculated based on the tax assessed value, often lower than the market value due to exemptions like primary residence and agricultural exemptions. Navigating Cameron's property tax system, exploring available exemptions, and seeking opportunities for reductions can lead to significant annual savings. Whether you're in the heart of Cameron 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
Cameron, Missouri Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.29%
Estimate Property Tax Bill
$844
Ownwell’s Cameron Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Cameron with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Cameron 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 Cameron, Missouri
Property taxes in Cameron, Missouri, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Cameron is 1.29%, higher than the U.S. national median of 0.99%. Local government entities within Cameron set these rates annually, and they can vary significantly across different neighborhoods. Each year, Cameron 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 Cameron's effective property tax rate to other counties in Missouri and the national median. For comparison, the zip code 64429 has both the highest and lowest median property tax rate of 1.29%. Understanding how these cities compare with Cameron 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 Cameron Tax Rate
1.29%
Average Daviess County Tax Rate
1.28%
Average Missouri Tax Rate
1.20%
Average United States Tax Rate
0.99%
Property Tax Rates Across Cameron, Missouri
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 64429 | 0.85% | 1.19% | 1.29% | 1.31% | 1.33% |
Source: Ownwell
Property Tax Assessment Values Across Cameron, Missouri
In Cameron, 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 Daviess County 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 Cameron, 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. The median home price in Cameron is $65,455, with property tax bills ranging from $555 at the 25th percentile to $3,094 at the 90th percentile. The zip code with the highest and lowest median tax bill is 64429, both at $822. By understanding 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 Cameron helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Cameron Assessed Value
$65,455
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 Cameron, Missouri
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 64429 | $32,596 | $43,610 | $65,455 | $136,902 | $239,729 |
Source: Ownwell
Property Tax Bills Across Cameron, Missouri
In Cameron, MO, property tax bills are calculated based on the assessed value of a property, which is determined by the Daviess County Assessor. The assessed value is a percentage of the property's market value, and this figure is then multiplied by the local tax rate to determine the annual tax bill. For instance, the median home price in Cameron is $65,455, and the property tax rate in the area can significantly impact the final bill. Factors such as property improvements, changes in market conditions, and local government budgets can influence the assessed value and tax rate. Homeowners in Cameron experience a range of property tax bills, with the 25th percentile at $555 and the 75th percentile at $1,576, while the 90th percentile reaches $3,094. These variations highlight how different property values and tax rates can affect homeowners' financial obligations. Comparatively, the national median property tax rate is 0.99%, making it essential for Cameron residents to stay informed about local assessments and tax rates to manage their expenses effectively.
Average Cameron Tax Bill
$822
Average Daviess County Tax Bill
$845
Average Missouri Tax Bill
$1,606
Average United States Tax Bill
$2,690
Property Tax Bills Across Cameron, Missouri
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 64429 | $363 | $555 | $822 | $1,576 | $3,094 |
Source: Ownwell