Levasy, Missouri Property Taxes
The median property tax rate in Levasy, MO is 1.90%, considerably higher than both the national median of 0.99% and the Missouri state median of 1.20%. With the median home value in Levasy at $24,000, the typical annual property tax bill reaches $455, which is significantly lower than the national median of $2,690. Property taxes in Levasy 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 Levasy'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 Levasy or another part of Jackson County, understanding the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Levasy, 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 Levasy Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Levasy with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Levasy 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 Levasy, Missouri
Property taxes in Levasy, Missouri, are essential for funding critical local services such as public schools, road maintenance, and emergency services. The median tax rate in Levasy is 1.90%, significantly higher than both the Missouri state median and the U.S. national median of 0.99%. Local government entities within Levasy set these rates annually, and they can vary across different neighborhoods. Each year, Levasy 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 Levasy's effective property tax rate to other areas in Missouri and the national median. For comparison, the zip code 64066 has both the highest and lowest median property tax rate of 1.90%. Understanding how these areas compare with Levasy provides valuable insights into the varying tax landscape across Jackson County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Levasy Tax Rate
1.90%
Average Jackson County Tax Rate
1.56%
Average Missouri Tax Rate
1.20%
Average United States Tax Rate
0.99%
Property Tax Rates Across Levasy, Missouri
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 64066 | 1.90% | 1.90% | 1.90% | 1.90% | 1.90% |
Source: Ownwell
Property Tax Assessment Values Across Levasy, Missouri
In Levasy, 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 Jackson 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 Levasy, 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 Levasy helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The zip code 64066 has the highest and lowest median tax bill, both at $455.
Average Levasy Assessed Value
$24,000
Average Jackson County Assessed Value
$127,000
Average Missouri Assessed Value
$129,505
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Levasy, Missouri
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 64066 | $4,000 | $5,750 | $24,000 | $76,500 | $90,000 |
Source: Ownwell
Property Tax Bills Across Levasy, Missouri
In Levasy, Jackson County, MO, property tax bills are calculated based on the assessed value of a home, which is a percentage of its market value. Homeowners in Levasy experience a range of property tax bills, reflecting the diversity in property values. For instance, the median home price is $24,000, and property tax bills can range significantly. The 25th percentile tax bill is $109, indicating that lower-valued properties incur relatively modest taxes, while the 75th percentile tax bill is $1,451, and the 90th percentile tax bill reaches $1,713, showing how higher-valued properties can lead to substantially higher tax obligations. The property tax rate in Levasy is influenced by local government budgets and the need to fund public services such as schools, infrastructure, and emergency services. Compared to the national median property tax rate of 0.99%, homeowners in Levasy might find their tax rates to be relatively favorable, depending on their property's assessed value. This variation in tax bills can significantly impact homeowners' financial planning and overall cost of living.
Average Levasy Tax Bill
$455
Average Jackson County Tax Bill
$2,070
Average Missouri Tax Bill
$1,606
Average United States Tax Bill
$2,690
Property Tax Bills Across Levasy, Missouri
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 64066 | $76 | $109 | $455 | $1,451 | $1,713 |
Source: Ownwell