Parkville, Platte County, Missouri Property Taxes
The median property tax rate in Parkville, MO is 1.53%, considerably higher than both the national median of 0.99% and the Missouri state median of 1.20%. With the median home value in Parkville at $384,919, the typical annual property tax bill reaches $5,862, exceeding the national median of $2,690. Property taxes in Parkville 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 Parkville'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 Parkville 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
Parkville, Platte County, Missouri Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.53%
Estimate Property Tax Bill
$5,889
$5,465
Ownwell’s Parkville Property Tax Bill Calculator is an essential tool for homeowners, real estate investors, or potential buyers to estimate their annual property taxes in Parkville with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Parkville to provide an estimate of 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 Parkville, Platte County, Missouri
Property taxes in Parkville, Missouri, are vital in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Parkville is 1.53%, higher than both the Missouri state median and the U.S. national median of 0.99%. Local government entities within Parkville set these rates annually, and they can vary significantly across different neighborhoods. Each year, Parkville 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 Parkville's effective property tax rate to other counties in Missouri and the national median. For comparison, the 64152 zip code has the highest median property tax rate of 1.53%, while the same zip code also has the lowest median tax rate of 1.53%. Understanding how these cities compare with Parkville provides valuable insights into the varying tax landscape across Platte County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Parkville Tax Rate
1.53%
Average Platte County Tax Rate
1.45%
Average Missouri Tax Rate
1.20%
Average United States Tax Rate
0.99%
Property Tax Rates Across Parkville, Platte County, Missouri
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 64152 | 1.42% | 1.53% | 1.53% | 1.53% | 1.53% |
Source: Ownwell
Property Tax Assessment Values Across Parkville, Platte County, Missouri
In Parkville, 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 Platte 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 Parkville, 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 Parkville helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. In Parkville, the zip code 64152 has the highest and lowest median tax bill at $5,862.
Property Tax Assessment Values Across Parkville, Platte County, Missouri
Source: Ownwell
$110,645
$247,782
$384,919
Average Parkville Assessed Value
$384,919
Average Platte County Assessed Value
$243,632
Average Missouri Assessed Value
$129,505
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Parkville, Platte County, Missouri
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 64152 | $153,532 | $248,354 | $384,919 | $456,350 | $531,778 |
Source: Ownwell
Property Tax Bills Across Parkville, Platte County, Missouri
In Parkville, located in Platte County, MO, property tax bills are calculated based on the assessed value of the property and the local tax rate. The assessed value is typically a percentage of the market value of the home, which in Parkville, has a median home price of $384,919. Local tax authorities then apply the tax rate to this assessed value to determine the annual tax bill. Homeowners in Parkville can expect their property tax bills to vary significantly. For instance, the 25th percentile tax bill is around $3,799, while those in the 75th percentile pay approximately $6,896. The highest tax bills, in the 90th percentile, can reach up to $8,304. These variations are influenced by factors such as property size, location, and any applicable exemptions. Comparatively, the national median property tax rate is 0.99%, which provides a benchmark to understand how local rates may impact homeowners differently. Understanding these factors helps homeowners in Parkville anticipate and manage their property tax obligations effectively.
Average Parkville Tax Bill
$5,862
Average Platte County Tax Bill
$3,540
Average Missouri Tax Bill
$1,606
Average United States Tax Bill
$2,690
Property Tax Bills Across Parkville, Platte County, Missouri
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 64152 | $2,328 | $3,799 | $5,862 | $6,896 | $8,304 |
Source: Ownwell