Dover, Missouri Property Taxes
The median property tax rate in Dover, MO is 0.85%, which is lower than both the national median of 0.99% and the Missouri state median of 1.20%. With the median home value in Dover at $23,200, the typical annual property tax bill is $197, significantly below the national median of $2,690. Property taxes in Dover are calculated based on the tax assessed value, which usually falls below the market value due to various exemptions like the primary residence and agricultural exemptions. Understanding Dover'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 Dover 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
Dover, Missouri Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.85%
Estimate Property Tax Bill
$197
Ownwell’s Dover Property Tax Bill Calculator assists homeowners, real estate investors, and potential buyers in estimating their annual property taxes in Dover with just two data points. By entering your property's estimated assessed value, the calculator uses the median tax rate in Dover 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 below. Your property’s assessed value is determined by the county for property tax calculations, taking into account any applicable exemptions.
Property Tax Rates Across Dover, Missouri
Property taxes in Dover, Missouri, are vital in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Dover is 0.85%, which is lower than the U.S. national median of 0.99%. Local government entities within Dover set these rates annually, and they can vary significantly across different neighborhoods. Each year, Dover 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 Dover's effective property tax rate to other areas in Missouri and the national median. For comparison, the 64022 zip code has the same median property tax rate of 0.85%. Understanding how these cities compare with Dover provides valuable insights into the varying tax landscape across Lafayette County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Dover Tax Rate
0.85%
Average Lafayette County Tax Rate
1.10%
Average Missouri Tax Rate
1.20%
Average United States Tax Rate
0.99%
Property Tax Rates Across Dover, Missouri
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 64022 | 0.78% | 0.80% | 0.85% | 0.99% | 1.20% |
Source: Ownwell
Property Tax Assessment Values Across Dover, Missouri
In Dover, 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 Lafayette 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 Dover, 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 Dover helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The highest median tax bill in Dover is $197 in the 64022 zip code, which is also the lowest median tax bill in the area.
Average Dover Assessed Value
$23,200
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 Dover, Missouri
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 64022 | $6,831 | $10,335 | $23,200 | $44,998 | $116,611 |
Source: Ownwell
Property Tax Bills Across Dover, Missouri
Property tax bills in Dover, Lafayette County, MO, are calculated based on the assessed value of a property and the local tax rate. The assessed value is typically a percentage of the property's market value, which is determined by county assessors. Homeowners in Dover can expect their tax bills to vary widely, with the 25th percentile tax bill at $120 and the 75th percentile reaching $477. For those in the higher bracket, the 90th percentile tax bill can go up to $954. The median home price in Dover is $23,200, and the property tax rate in this area is influenced by several factors, including the local government's budget needs and public services funding. Compared to the national median property tax rate of 0.99%, Dover's rates are relatively modest, making it an attractive option for homeowners seeking lower property tax burdens. The highest and lowest median tax bills in Dover both stand at $197, indicating a consistent tax rate across different neighborhoods within the city.
Average Dover Tax Bill
$197
Average Lafayette County Tax Bill
$641
Average Missouri Tax Bill
$1,606
Average United States Tax Bill
$2,690
Property Tax Bills Across Dover, Missouri
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 64022 | $54 | $120 | $197 | $477 | $954 |
Source: Ownwell