Lafayette County, Missouri Property Taxes
The median property tax rate in Lafayette County is 1.10%, which is slightly higher than the national median of 0.99% but lower than Missouri's state median of 1.20%. With a median home value of $57,532, the typical annual property tax bill in Lafayette County is $641, significantly below the national median of $2,690. Property taxes here are calculated based on the tax assessed value, which is generally lower than the actual market value due to various property tax exemptions, such as those for primary residences and agricultural properties. Understanding Lafayette County's specific property tax system, exploring available exemptions, and identifying opportunities for property tax reductions can provide substantial annual savings. Whether you live in Lexington or another part of Lafayette County, gaining comprehensive knowledge of local property taxes will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Lafayette County, Missouri Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.1%
Estimate Property Tax Bill
$633
$587
Ownwell’s Lafayette County Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Lafayette County with just two data points. Enter your property's estimated assessed value, and our calculator applies the median tax rate in Lafayette County to estimate your property tax bill. This tool helps you understand potential tax liabilities. If you’d like to see trends on a city level, scroll down to navigate to a more local informational page. Your property assessed value is the value assigned to your property by your county for property tax calculations. Assessed value takes into account any exemptions you may have on your property.
Property Tax Rates Across Lafayette County, Missouri
Property taxes in Lafayette County play a crucial role in funding essential local services like public schools, road maintenance, and emergency services. The median tax rate in Lafayette County is 1.10%, which is higher than the U.S. national median of 0.99%. Local government entities within Lafayette County set these rates annually, and they can vary significantly between different areas within the county. Each year, Lafayette County estimates its required budget to maintain services for the upcoming fiscal year, and divides this budget by the total value of all taxable property in the jurisdiction, resulting in the property tax rate. Although tax rates and budgets are influenced by laws and voter input, this calculation forms the basic process for setting property tax rates. The following data compares Lafayette County's effective property tax rate with other counties and the national median. For comparison, the city of Oak Grove has one of the higher property tax rates in Missouri at 1.35%, while the city of Camden boasts one of the lowest at 0.70%. Analyzing how Lafayette County's tax rates stack up against these benchmarks can give homeowners a better understanding of the local tax landscape.
Average Lafayette County Tax Rate
1.10%
Average Missouri Tax Rate
1.20%
Average United States Tax Rate
0.99%
Property Tax Rates Across Lafayette County, Missouri
| City | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| Alma | 0.78% | 0.78% | 0.78% | 0.89% | 1.08% |
| Bates City | 0.85% | 1.16% | 1.26% | 1.40% | 1.40% |
| Blackburn | N/A | N/A | N/A | N/A | N/A |
| Camden | N/A | N/A | N/A | N/A | N/A |
| Concordia | 0.75% | 0.95% | 1.18% | 1.36% | 1.36% |
| Corder | 0.72% | 0.73% | 0.77% | 0.90% | 1.27% |
| Dover | 0.78% | 0.80% | 0.85% | 0.99% | 1.20% |
| Emma | N/A | N/A | N/A | N/A | N/A |
| Higginsville | 0.76% | 0.81% | 1.01% | 1.31% | 1.34% |
| Lake Lafayette | N/A | N/A | N/A | N/A | N/A |
| Lexington | 0.76% | 0.77% | 1.08% | 1.32% | 1.34% |
| Mayview | 0.79% | 0.81% | 1.00% | 1.16% | 1.23% |
| Napoleon | 0.97% | 0.97% | 1.19% | 1.33% | 1.42% |
| Oak Grove | 0.96% | 1.30% | 1.35% | 1.40% | 1.42% |
| Odessa | 0.81% | 1.14% | 1.29% | 1.42% | 1.42% |
| Waverly | 0.77% | 0.77% | 0.77% | 0.95% | 1.34% |
| Wellington | 0.92% | 0.97% | 1.29% | 1.49% | 1.56% |
Source: Ownwell
Property Tax Assessment Values Across Lafayette County, Missouri
In Lafayette County, understanding the difference between "market value" and "assessed value" is key to comprehending property taxes. The market value represents the price a willing buyer would pay to a willing seller in an open, competitive market, considering location, property condition, and current economic trends. For tax purposes, this value is estimated by the Lafayette County Appraisal District. The assessed value, however, 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. Assessment notices in Lafayette County are typically mailed in the spring, usually by the middle of April. These notices provide homeowners with both the market and assessed values, along with an estimate of the annual property tax bill. By distinguishing between these valuation concepts, property owners can better navigate their tax responsibilities and understand how their property taxes are affected. For instance, Oak Grove has the highest median tax bill at $1,410, while Lake Lafayette has the lowest at $123. Being aware of these valuation processes in Lafayette County will help you identify opportunities for appealing assessments or applying for exemptions to manage your tax burden more effectively.
Property Tax Assessment Values Across Lafayette County, Missouri
Source: Ownwell
$23,200
$83,375
$143,550
Average Lafayette County Assessed Value
$57,532
Average Missouri Assessed Value
$129,505
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Lafayette County, Missouri
| City | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| Alma | $22,078 | $38,390 | $70,860 | $146,540 | $186,500 |
| Bates City | $11,650 | $35,735 | $61,629 | $119,332 | $204,184 |
| Blackburn | N/A | N/A | N/A | N/A | N/A |
| Camden | N/A | N/A | N/A | N/A | N/A |
| Concordia | $27,742 | $43,338 | $65,850 | $161,870 | $257,892 |
| Corder | $12,714 | $23,969 | $56,715 | $141,172 | $243,926 |
| Dover | $6,831 | $10,335 | $23,200 | $44,998 | $116,611 |
| Emma | N/A | N/A | N/A | N/A | N/A |
| Higginsville | $16,600 | $29,397 | $46,586 | $98,180 | $179,650 |
| Lake Lafayette | N/A | N/A | N/A | N/A | N/A |
| Lexington | $11,058 | $25,460 | $46,100 | $81,219 | $138,065 |
| Mayview | $18,530 | $43,845 | $89,020 | $139,195 | $225,314 |
| Napoleon | $12,488 | $29,465 | $111,640 | $179,540 | $191,497 |
| Oak Grove | $44,096 | $69,162 | $143,550 | $168,410 | $241,136 |
| Odessa | $27,851 | $47,359 | $78,227 | $137,162 | $214,979 |
| Waverly | $13,093 | $25,695 | $45,245 | $109,275 | $173,760 |
| Wellington | $6,606 | $22,610 | $46,790 | $90,020 | $114,863 |
Source: Ownwell
Property Tax Bills Across Lafayette County, Missouri
In Lafayette County, MO, property tax bills are calculated based on the assessed value of a home, which is a percentage of its market value. The local tax rate is then applied to this assessed value to determine the tax bill. Factors such as the home's location, its market value, and any applicable exemptions play a crucial role in this calculation. For instance, the median home price in Lafayette County is $57,532, with tax bills ranging significantly. Homeowners in Oak Grove face the highest median tax bill at $1,410, while those in Lake Lafayette enjoy the lowest median tax bill at $123. The 25th percentile tax bill is $304, while the 75th percentile reaches $1,324, and the 90th percentile hits $2,191. These figures illustrate the variability in tax burdens across the county, influenced by property values and local tax rates. Understanding these factors can help homeowners anticipate their property tax responsibilities and manage their finances accordingly.
Average Lafayette County Tax Bill
$641
Average Missouri Tax Bill
$1,606
Average United States Tax Bill
$2,690
Property Tax Bills Across Lafayette County, Missouri
| City | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| Alma | $173 | $299 | $552 | $1,186 | $1,889 |
| Bates City | $89 | $422 | $778 | $1,376 | $2,428 |
| Blackburn | N/A | N/A | N/A | N/A | N/A |
| Camden | N/A | N/A | N/A | N/A | N/A |
| Concordia | $296 | $445 | $848 | $1,862 | $2,683 |
| Corder | $88 | $204 | $506 | $1,249 | $2,221 |
| Dover | $54 | $120 | $197 | $477 | $954 |
| Emma | N/A | N/A | N/A | N/A | N/A |
| Higginsville | $173 | $273 | $508 | $975 | $1,924 |
| Lake Lafayette | N/A | N/A | N/A | N/A | N/A |
| Lexington | $87 | $222 | $475 | $939 | $1,580 |
| Mayview | $172 | $364 | $930 | $1,440 | $2,112 |
| Napoleon | $122 | $286 | $1,310 | $2,308 | $2,615 |
| Oak Grove | $580 | $940 | $1,410 | $2,273 | $2,478 |
| Odessa | $281 | $561 | $952 | $1,713 | $2,632 |
| Waverly | $98 | $203 | $403 | $755 | $1,563 |
| Wellington | $72 | $269 | $665 | $1,243 | $1,606 |
Source: Ownwell