Orrick, Missouri Property Taxes
The median property tax rate in Orrick, Missouri is 1.30%, considerably higher than both the national median of 0.99% and the Missouri state median of 1.20%. With the median home value in Orrick at $88,720, the typical annual property tax bill reaches $1,163, which is below the national median of $2,690. Property taxes in Orrick 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 Orrick'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 Orrick 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
Orrick, Missouri Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.3%
Estimate Property Tax Bill
$1,153
Ownwell’s Orrick Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Orrick with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Orrick 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 Orrick, Missouri
Property taxes in Orrick, Missouri, are crucial for funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Orrick is 1.30%, significantly higher than both the Missouri state median and the U.S. national median of 0.99%. Local government entities within Orrick set these rates annually, and they can vary significantly across different neighborhoods. Each year, Orrick 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 Orrick's effective property tax rate to other counties in Missouri and the national median. For comparison, the 64077 zip code has the highest median property tax rate of 1.30%, while the same zip code also has the lowest median tax rate of 1.30%. Understanding how these cities compare with Orrick provides valuable insights into the varying tax landscape across Ray County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Orrick Tax Rate
1.30%
Average Ray County Tax Rate
1.35%
Average Missouri Tax Rate
1.20%
Average United States Tax Rate
0.99%
Property Tax Rates Across Orrick, Missouri
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 64077 | 1.18% | 1.26% | 1.30% | 1.43% | 1.43% |
Source: Ownwell
Property Tax Assessment Values Across Orrick, Missouri
In Orrick, 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 Ray County Assessor 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 Orrick, 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 Orrick helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The zip code 64077 has the highest and lowest median tax bill at $1,163.
Average Orrick Assessed Value
$88,720
Average Ray County Assessed Value
$105,860
Average Missouri Assessed Value
$129,505
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Orrick, Missouri
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 64077 | $28,104 | $50,410 | $88,720 | $128,420 | $182,562 |
Source: Ownwell
Property Tax Bills Across Orrick, Missouri
In Orrick, located in Ray County, MO, property tax bills are calculated based on the assessed value of a home, which is a percentage of its market value. The local tax rate is then applied to this assessed value to determine the final tax bill. For instance, the median home price in Orrick is $88,720. Homeowners can expect their property tax bills to vary significantly depending on the assessed value and specific tax rate applied. Property tax bills in Orrick range from the 25th percentile at $677 to the 75th percentile at $1,644, with the 90th percentile reaching up to $2,268. These figures highlight the variability in tax bills, influenced by factors such as property value and local tax rates. Compared to the national median property tax rate of 0.99%, Orrick's tax bills reflect localized assessments and rates. This variability can significantly affect homeowners' financial planning and overall housing costs, making it crucial to understand the specific factors influencing property tax calculations in Orrick.
Average Orrick Tax Bill
$1,163
Average Ray County Tax Bill
$1,429
Average Missouri Tax Bill
$1,606
Average United States Tax Bill
$2,690
Property Tax Bills Across Orrick, Missouri
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 64077 | $367 | $677 | $1,163 | $1,644 | $2,268 |
Source: Ownwell