Danville, Missouri Property Taxes
The median property tax rate in Danville, Missouri is 0.76%, significantly lower than both the national median of 0.99% and the Missouri state median of 1.20%. With the median home value in Danville at $6,100, the typical annual property tax bill is $46, well below the national median of $2,690. Property taxes in Danville are calculated based on the tax assessed value, which often falls below the market value due to various exemptions such as primary residence and agricultural exemptions. Understanding Danville's property tax system, exploring available exemptions, and identifying opportunities for reductions can lead to substantial annual savings. Whether you're in the heart of Danville or another part of Morgan County, understanding the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Danville, Missouri Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.76%
Estimate Property Tax Bill
$46
Ownwell’s Danville Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Danville with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Danville 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 Danville, Missouri
Property taxes in Danville, Missouri, are vital in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Danville is 0.76%, which is lower than the U.S. national median of 0.99%. Local government entities within Danville set these rates annually, and they can vary significantly across different neighborhoods. Each year, Danville 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 Danville's effective property tax rate to other areas in Missouri and the national median. For comparison, the 63361 zip code has both the highest and lowest median property tax rate of 0.76%. Understanding how these areas compare with Danville provides valuable insights into the varying tax landscape across Morgan County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Danville Tax Rate
0.76%
Average Morgan County Tax Rate
0.87%
Average Missouri Tax Rate
1.20%
Average United States Tax Rate
0.99%
Property Tax Rates Across Danville, Missouri
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 63361 | 0.76% | 0.76% | 0.76% | 0.76% | 0.76% |
Source: Ownwell
Property Tax Assessment Values Across Danville, Missouri
In Danville, 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 Morgan 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 Danville, 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 Danville helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Danville Assessed Value
$6,100
Average Morgan County Assessed Value
$49,350
Average Missouri Assessed Value
$129,505
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Danville, Missouri
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 63361 | $6,100 | $6,100 | $6,100 | $6,100 | $6,100 |
Source: Ownwell
Property Tax Bills Across Danville, Missouri
In Danville, located in Morgan County, MO, property tax bills are calculated based on the assessed value of a property. The assessed value is determined by the local assessor's office, which evaluates the property's market value and applies the appropriate assessment ratio. For homeowners, this process directly impacts the amount they owe in property taxes. Several factors influence the assessed value, including the property's location, size, and condition. Once the assessed value is established, it is multiplied by the local tax rate to determine the annual tax bill. In Danville, the median home price is $6,100, and typical property tax bills are relatively low, with the 25th, 75th, and 90th percentiles all at $46. Compared to the national median property tax rate of 0.99%, Danville offers a more affordable option for homeowners. This lower tax burden can make homeownership more accessible and less financially strenuous for residents, contributing to the overall appeal of living in this Missouri community.
Average Danville Tax Bill
$46
Average Morgan County Tax Bill
$420
Average Missouri Tax Bill
$1,606
Average United States Tax Bill
$2,690
Property Tax Bills Across Danville, Missouri
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 63361 | $46 | $46 | $46 | $46 | $46 |
Source: Ownwell