Las Vegas, Missouri Property Taxes
The median property tax rate in Las Vegas, MO is 2.29%, significantly higher than the national median of 0.99% and the Missouri state median of 1.20%. With the median home value in Las Vegas, the typical annual property tax bill reaches $41, which is notably lower than the national median of $2,690. Property taxes in Las Vegas are calculated based on the tax assessed value, which often falls below the market value due to various exemptions like the primary residence and agricultural exemptions. Understanding Las Vegas'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 Las Vegas 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
Las Vegas, Missouri Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
2.29%
Estimate Property Tax Bill
$41
Ownwell’s Las Vegas Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Las Vegas with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Las Vegas 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 Las Vegas, Missouri
Property taxes in Las Vegas, Missouri, are crucial for funding essential local services like public schools, road maintenance, and emergency services. The median tax rate in Las Vegas stands at 2.29%, significantly higher than the U.S. national median of 0.99%. Local government entities within Las Vegas set these rates annually, and they can vary significantly across different neighborhoods. Each year, Las Vegas 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 Las Vegas's effective property tax rate to other counties in Missouri and the national median. For comparison, the zip code 89142 has both the highest and lowest median property tax rate of 2.29%. Understanding how these areas compare with Las Vegas 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 Las Vegas Tax Rate
2.29%
Average Morgan County Tax Rate
0.87%
Average Missouri Tax Rate
1.20%
Average United States Tax Rate
0.99%
Property Tax Rates Across Las Vegas, Missouri
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 89142 | 2.29% | 2.29% | 2.29% | 2.29% | 2.29% |
Source: Ownwell
Property Tax Assessment Values Across Las Vegas, Missouri
In Las Vegas, 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 Las Vegas, 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 Las Vegas helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The zip code with the highest tax bill is 29141 with $41, while the lowest is also 29141 with $41.
Average Las Vegas Assessed Value
$1,800
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 Las Vegas, Missouri
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 89142 | $1,800 | $1,800 | $1,800 | $1,800 | $1,800 |
Source: Ownwell
Property Tax Bills Across Las Vegas, Missouri
In Las Vegas, located in Morgan County, MO, property tax bills are calculated based on the assessed value of the property. The assessed value is determined by the county assessor and is a percentage of the property's market value. This assessed value is then multiplied by the local tax rate to determine the annual tax bill. Several factors influence the assessed value, including property size, location, and improvements or renovations made to the property. Homeowners in Las Vegas can expect their tax bills to vary depending on these factors. For instance, the 25th percentile, 75th percentile, and 90th percentile tax bills in Las Vegas are all $41, indicating a relatively uniform tax burden across different property values. Compared to the national median property tax rate of 0.99%, homeowners in Las Vegas may find their tax bills to be quite manageable. Understanding how these factors affect your property tax bill is crucial for budgeting and financial planning.
Average Las Vegas Tax Bill
$41
Average Morgan County Tax Bill
$420
Average Missouri Tax Bill
$1,606
Average United States Tax Bill
$2,690
Property Tax Bills Across Las Vegas, Missouri
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 89142 | $41 | $41 | $41 | $41 | $41 |
Source: Ownwell