Dixon, Phelps County, Missouri Property Taxes
The median property tax rate in Dixon, MO is 0.72%, significantly lower than both the national median of 0.99% and the Missouri state median of 1.20%. With the median home value in Dixon at $69,725, the typical annual property tax bill is $484, which is well below the national median of $2,690. Property taxes in Dixon 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 Dixon'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 Dixon 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
Dixon, Phelps County, Missouri Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.72%
Estimate Property Tax Bill
$502
$466
Ownwell’s Dixon Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Dixon with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Dixon 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 Dixon, Phelps County, Missouri
Property taxes in Dixon, Missouri, are crucial for funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Dixon is 0.72%, lower than both the Missouri state median and the U.S. national median of 0.99%. Local government entities within Dixon set these rates annually, and they can vary significantly across different neighborhoods. Each year, Dixon 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 Dixon's effective property tax rate to other counties in Missouri and the national median. For comparison, the 65459 zip code has both the highest and lowest median property tax rate of 0.72%. Understanding how these cities compare with Dixon provides valuable insights into the varying tax landscape across Phelps County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Dixon Tax Rate
0.72%
Average Phelps County Tax Rate
0.98%
Average Missouri Tax Rate
1.20%
Average United States Tax Rate
0.99%
Property Tax Rates Across Dixon, Phelps County, Missouri
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 65459 | 0.60% | 0.69% | 0.72% | 0.92% | 0.94% |
Source: Ownwell
Property Tax Assessment Values Across Dixon, Phelps County, Missouri
In Dixon, 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 Phelps 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. Assessment notices in Dixon 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 Dixon helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The zip code with the highest median tax bill is 65459, with a median tax bill of $484.00.
Property Tax Assessment Values Across Dixon, Phelps County, Missouri
Source: Ownwell
$37,100
$78,532
$119,964
Average Dixon Assessed Value
$69,725
Average Phelps County Assessed Value
$106,880
Average Missouri Assessed Value
$129,505
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Dixon, Phelps County, Missouri
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 65459 | $14,103 | $27,962 | $69,725 | $117,715 | $186,947 |
Source: Ownwell
Property Tax Bills Across Dixon, Phelps County, Missouri
In Dixon, MO, property tax bills are calculated based on the assessed value of a home, which is typically a percentage of its market value. For instance, if the median home price in Dixon is $69,725, the assessed value would be a fraction of this amount, determined by local assessment rates. Once the assessed value is established, the local tax rate is applied to calculate the annual property tax bill. Several factors influence the final tax bill, including the property's assessed value, the local tax rate, and any applicable exemptions or deductions. In Dixon, the 25th percentile tax bill is approximately $197, while the 75th percentile reaches $908, and the 90th percentile can be as high as $1,447. These property taxes fund essential public services like schools, emergency services, and infrastructure maintenance, directly impacting homeowners. Compared to the national median property tax rate of 0.99%, Dixon's rates can vary, reflecting the unique economic and administrative characteristics of the region.
Average Dixon Tax Bill
$484
Average Phelps County Tax Bill
$1,009
Average Missouri Tax Bill
$1,606
Average United States Tax Bill
$2,690
Property Tax Bills Across Dixon, Phelps County, Missouri
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 65459 | $103 | $197 | $484 | $908 | $1,447 |
Source: Ownwell