Livonia, Missouri Property Taxes
The median property tax rate in Livonia, Missouri is 1.47%, considerably higher than both the national median of 0.99% and the Missouri state median of 1.20%. With the median home value in Livonia, the typical annual property tax bill reaches $90, significantly lower than the national median of $2,690. Property taxes in Livonia are calculated based on the tax assessed value, which typically falls below the market value due to various exemptions like the primary residence and agricultural exemptions. Understanding Livonia'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 Livonia 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
Livonia, Missouri Property Tax Bill Calculator
$100,000
$2,500,000
$5,000,000
Average Tax Rate
1.2%
Estimate Property Tax Bill
$2,400
Ownwell’s Livonia Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Livonia with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Livonia 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 Livonia, Missouri
Property taxes in Livonia, Missouri, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Livonia is 1.47%, significantly higher than both the Missouri state median and the U.S. national median of 0.99%. Local government entities within Livonia set these rates annually, and they can vary significantly across different neighborhoods. Each year, Livonia 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 Livonia's effective property tax rate to other counties in Missouri and the national median. For comparison, the 48150 zip code has the highest median property tax rate of 1.47%, while the same zip code also has the lowest median tax rate of 1.47%. Understanding how these cities compare with Livonia 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 Livonia Tax Rate
1.47%
Average Morgan County Tax Rate
0.87%
Average Missouri Tax Rate
1.20%
Average United States Tax Rate
0.99%
Property Tax Rates Across Livonia, Missouri
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 48150 | 1.47% | 1.47% | 1.47% | 1.47% | 1.47% |
Source: Ownwell
Property Tax Assessment Values Across Livonia, Missouri
In Livonia, 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 Assessor's Office 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 Livonia, 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 25th, 75th, and 90th percentiles of tax bills in Livonia are all $90, reflecting a consistent tax burden across different property values. 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 Livonia helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Livonia 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 Livonia, Missouri
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 48150 | $6,100 | $6,100 | $6,100 | $6,100 | $6,100 |
Source: Ownwell
Property Tax Bills Across Livonia, Missouri
Property tax bills in Livonia, Morgan County, MO, are calculated based on the assessed value of a property and the local tax rate. The assessed value is determined by the county assessor, who evaluates the property's market value and applies an assessment ratio. For homeowners, this ratio is essential as it directly impacts the tax bill. In Livonia, the tax bills are relatively low compared to the national median property tax rate of 0.99%. For example, a property with a median home price of $6,100 results in annual tax bills that typically range around $90, regardless of whether they fall in the 25th, 75th, or 90th percentile. This consistency indicates a stable and predictable tax environment for homeowners. Factors such as property improvements, changes in market value, and local government budget requirements can influence the assessed value and, subsequently, the tax bill. Understanding these elements is crucial for homeowners as they navigate their financial planning and property investments.
Average Livonia Tax Bill
$90
Average Morgan County Tax Bill
$420
Average Missouri Tax Bill
$1,606
Average United States Tax Bill
$2,690
Property Tax Bills Across Livonia, Missouri
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 48150 | $90 | $90 | $90 | $90 | $90 |
Source: Ownwell