Chillicothe, Livingston County, Missouri Property Taxes
The median property tax rate in Chillicothe, MO is 1.27%, notably higher than both the national median of 0.99% and the Missouri state median of 1.20%. With the median home value in Chillicothe at $72,720, the typical annual property tax bill reaches $906, which is significantly lower than the national median of $2,690. Property taxes in Chillicothe are calculated based on the assessed value, which often falls below the market value due to exemptions such as primary residence and agricultural exemptions. Understanding Chillicothe'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 Chillicothe or another part of Livingston County, understanding the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Chillicothe, Livingston County, Missouri Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.27%
Estimate Property Tax Bill
$924
$857
Ownwell’s Chillicothe Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Chillicothe with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Chillicothe 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 Chillicothe, Livingston County, Missouri
Property taxes in Chillicothe, Missouri, are vital in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Chillicothe is 1.27%, higher than both the Missouri state median and the U.S. national median of 0.99%. Local government entities within Chillicothe set these rates annually, and they can vary significantly across different neighborhoods. Each year, Chillicothe 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 Chillicothe's effective property tax rate to other areas in Missouri and the national median. For comparison, the 64601 zip code has the highest median property tax rate of 1.27%, while the same zip code also has the lowest median tax rate of 1.27%. Understanding how these cities compare with Chillicothe provides valuable insights into the varying tax landscape across Livingston County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Chillicothe Tax Rate
1.27%
Average Livingston County Tax Rate
1.26%
Average Missouri Tax Rate
1.20%
Average United States Tax Rate
0.99%
Property Tax Rates Across Chillicothe, Livingston County, Missouri
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 64601 | 1.05% | 1.19% | 1.27% | 1.30% | 1.33% |
Source: Ownwell
Property Tax Assessment Values Across Chillicothe, Livingston County, Missouri
Understanding the difference between "market value" and "assessed value" is crucial for comprehending property taxes in Chillicothe, 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 Livingston 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 Chillicothe, 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. Chillicothe's median home price is $72,720, and the tax bills vary significantly. For example, the 25th percentile tax bill is $484, while the 75th percentile tax bill is $1,508, and the 90th percentile tax bill reaches $2,291. The zip code 64601 has the highest median tax bill at $906, which is also the lowest median tax bill in the area. 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 helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Property Tax Assessment Values Across Chillicothe, Livingston County, Missouri
Source: Ownwell
$32,280
$62,643
$93,005
Average Chillicothe Assessed Value
$72,720
Average Livingston County Assessed Value
$65,985
Average Missouri Assessed Value
$129,505
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Chillicothe, Livingston County, Missouri
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 64601 | $20,242 | $39,400 | $72,720 | $124,340 | $192,034 |
Source: Ownwell
Property Tax Bills Across Chillicothe, Livingston County, Missouri
In Chillicothe, located in Livingston County, MO, property tax bills are calculated based on the assessed value of a property, which is a percentage of its market value. This assessed value is then multiplied by the local tax rate to determine the tax bill. Homeowners in Chillicothe experience a range of property tax bills, with the 25th percentile paying around $484, while those in the 75th percentile face bills of approximately $1508. At the higher end, the 90th percentile sees tax bills reaching up to $2291. The median home price in Chillicothe is $72,720, which influences the assessed value and, subsequently, the tax bill. Compared to the national median property tax rate of 0.99%, Chillicothe's property tax rates can vary, impacting homeowners differently based on their property's value and location within the city. Understanding these factors is crucial for homeowners to anticipate their property tax obligations and manage their finances accordingly.
Average Chillicothe Tax Bill
$906
Average Livingston County Tax Bill
$794
Average Missouri Tax Bill
$1,606
Average United States Tax Bill
$2,690
Property Tax Bills Across Chillicothe, Livingston County, Missouri
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 64601 | $251 | $484 | $906 | $1,508 | $2,291 |
Source: Ownwell