Annapolis, Madison County, Missouri Property Taxes
The median property tax rate in Annapolis, MO is 1.04%, 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 $43,900, the typical annual property tax bill in Annapolis is $306, significantly below the national median of $2,690. Property taxes here are calculated based on the tax assessed value, which usually falls below the market value due to exemptions like the primary residence and agricultural exemptions. Understanding Annapolis'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 Annapolis or another part of Madison County, grasping the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Annapolis, Madison County, Missouri Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.04%
Estimate Property Tax Bill
$457
$424
Ownwell’s Annapolis Property Tax Bill Calculator assists homeowners, real estate investors, and potential buyers in estimating their annual property taxes in Annapolis using just two key data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Annapolis to provide an estimate of your property tax bill. This valuable tool helps you understand your potential tax liabilities. For those interested in more localized trends, additional neighborhood-level information is available below. Your property’s assessed value is determined by Madison County for tax calculations and includes any applicable exemptions.
Property Tax Rates Across Annapolis, Madison County, Missouri
Property taxes in Annapolis, Missouri, are vital in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Annapolis is 1.04%, higher than both the Missouri state median and the U.S. national median of 0.99%. Local government entities within Annapolis set these rates annually, and they can vary significantly across different neighborhoods. Each year, Annapolis 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 Annapolis's effective property tax rate to other counties in Missouri and the national median. For comparison, the 63620 zip code has the highest median property tax rate of 1.04%, while the 63620 zip code has the lowest median tax rate of 1.04%. Understanding how these cities compare with Annapolis provides valuable insights into the varying tax landscape across Madison County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Annapolis Tax Rate
1.04%
Average Madison County Tax Rate
1.09%
Average Missouri Tax Rate
1.20%
Average United States Tax Rate
0.99%
Property Tax Rates Across Annapolis, Madison County, Missouri
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 63620 | 0.39% | 0.92% | 1.04% | 1.09% | 1.09% |
Source: Ownwell
Property Tax Assessment Values Across Annapolis, Madison County, Missouri
In Annapolis, 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 Madison 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 Annapolis, 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. For instance, the zip code 63620 has the highest median tax bill at $306, while other areas may vary significantly. 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 Annapolis helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Property Tax Assessment Values Across Annapolis, Madison County, Missouri
Source: Ownwell
$36,190
$50,060
$63,930
Average Annapolis Assessed Value
$43,900
Average Madison County Assessed Value
$49,890
Average Missouri Assessed Value
$129,505
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Annapolis, Madison County, Missouri
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 63620 | $4,332 | $15,465 | $43,900 | $77,785 | $106,478 |
Source: Ownwell
Property Tax Bills Across Annapolis, Madison County, Missouri
In Annapolis, Madison County, MO, property tax bills are determined based on the assessed value of a home, which is a percentage of its market value. The assessed value is then multiplied by the local tax rate to calculate the annual tax bill. Factors that influence this calculation include the home's market value, which in Annapolis has a median of $43,900, and the specific tax rate set by local authorities. Homeowners in Annapolis can expect tax bills to vary significantly; for instance, the 25th percentile tax bill is $87, while the 75th percentile reaches $695. At the higher end, the 90th percentile tax bill is $958. These variations can impact homeowners differently, depending on the value of their property and the local tax rate applied. Comparatively, the national median property tax rate is 0.99%, which provides a benchmark for understanding how Annapolis's property taxes align with broader trends. Homeowners should be aware of these factors to better anticipate their annual financial obligations.
Average Annapolis Tax Bill
$306
Average Madison County Tax Bill
$502
Average Missouri Tax Bill
$1,606
Average United States Tax Bill
$2,690
Property Tax Bills Across Annapolis, Madison County, Missouri
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 63620 | $16 | $87 | $306 | $695 | $958 |
Source: Ownwell