Kennett, Missouri Property Taxes
The median property tax rate in Kennett, MO is 1.09%, which is slightly higher than the national median of 0.99% but lower than the Missouri state median of 1.20%. With a median home value of $43,695 in Kennett, the typical annual property tax bill amounts to $463, significantly below the national median of $2,690. Property taxes in Kennett are calculated based on the tax assessed value, which is often less than the market value due to various exemptions, such as those for primary residences and agricultural properties. Understanding Kennett's property tax system, exploring available exemptions, and identifying opportunities for reductions can lead to substantial annual savings. Whether you're in the heart of Kennett or another part of the city, grasping the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Kennett, Missouri Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.09%
Estimate Property Tax Bill
$476
Ownwell’s Kennett Property Tax Bill Calculator empowers homeowners, real estate investors, and potential buyers to estimate their annual property taxes in Kennett with just two simple inputs. By entering your property's estimated assessed value, the calculator applies the median tax rate in Kennett to provide an accurate property tax estimate. This valuable tool offers a clear understanding of potential tax liabilities, helping you make informed financial decisions. For those interested in more detailed trends at a neighborhood level, additional localized information is available below. Your property’s assessed value is determined by Dunklin County for tax purposes, taking into consideration any applicable exemptions.
Property Tax Rates Across Kennett, Missouri
Property taxes in Kennett, Missouri, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Kennett is 0.91%, which is lower than both the Missouri state median of 0.97% and the U.S. national median of 0.99%. Local government entities within Kennett set these rates annually, and they can vary significantly across different neighborhoods. Each year, Kennett 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 Kennett's effective property tax rate to other counties in Missouri and the national median. For comparison, the 63857 zip code has the highest median property tax rate of 0.91%, while the 63857 zip code also has the lowest median tax rate of 0.91%. Understanding how these areas compare with Kennett provides valuable insights into the varying tax landscape across Dunklin County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Kennett Tax Rate
1.09%
Average Dunklin County Tax Rate
0.91%
Average Missouri Tax Rate
1.20%
Average United States Tax Rate
0.99%
Property Tax Rates Across Kennett, Missouri
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 63857 | 0.87% | 1.07% | 1.09% | 1.09% | 1.10% |
Source: Ownwell
Property Tax Assessment Values Across Kennett, Missouri
Understanding the difference between "market value" and "assessed value" is crucial for comprehending property taxes in Kennett, Missouri. 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 Dunklin 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 Kennett, 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 Kennett helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The highest median tax bill in Kennett is $463 in the 63857 zip code, which is also the lowest median tax bill, offering a clear picture of the property tax landscape in the area.
Average Kennett Assessed Value
$43,695
Average Dunklin County Assessed Value
$33,875
Average Missouri Assessed Value
$129,505
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Kennett, Missouri
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 63857 | $5,059 | $18,065 | $43,695 | $73,890 | $112,427 |
Source: Ownwell
Property Tax Bills Across Kennett, Missouri
In Kennett, located in Dunklin County, MO, property tax bills are calculated based on the assessed value of a home. The assessed value is determined by the county assessor's office and represents a percentage of the home's market value. Several factors are considered in this assessment, including the property's location, size, and condition. Once the assessed value is determined, it is multiplied by the local tax rate to calculate the annual property tax bill. For homeowners in Kennett, the median home price is $43,695. The property tax bill can vary significantly, with the 25th percentile at $206 and the 75th percentile at $764, while the 90th percentile reaches $1,164. Compared to the national median property tax rate of 0.99%, Kennett's tax rates offer a relatively affordable option for homeowners. Understanding these factors helps homeowners anticipate their annual tax obligations and manage their finances more effectively.
Average Kennett Tax Bill
$463
Average Dunklin County Tax Bill
$320
Average Missouri Tax Bill
$1,606
Average United States Tax Bill
$2,690
Property Tax Bills Across Kennett, Missouri
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 63857 | $58 | $206 | $463 | $764 | $1,164 |
Source: Ownwell