Rayville, Missouri Property Taxes
The median property tax rate in Rayville, MO is 1.24%, higher than both the national median of 0.99% and the Missouri state median of 1.20%. With the median home value in Rayville, the typical annual property tax bill reaches $1,478, which exceeds the national median of $2,690. Property taxes in Rayville 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 Rayville'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 Rayville 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
Rayville, Missouri Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.24%
Estimate Property Tax Bill
$1,483
Ownwell’s Rayville Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Rayville with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Rayville 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 Rayville, Missouri
Property taxes in Rayville, Missouri, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Rayville is 1.24%, which is significantly higher than the U.S. national median of 0.99%. Local government entities within Rayville set these rates annually, and they can vary significantly across different neighborhoods. Each year, Rayville 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 Rayville's effective property tax rate to other areas and the national median. For comparison, the zip code 64084 has the highest median property tax rate of 1.24%, while the same zip code also has the lowest median tax rate of 1.24%. Understanding how these areas compare with Rayville 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 Rayville Tax Rate
1.24%
Average Ray County Tax Rate
1.35%
Average Missouri Tax Rate
1.20%
Average United States Tax Rate
0.99%
Property Tax Rates Across Rayville, Missouri
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 64084 | 1.10% | 1.18% | 1.24% | 1.34% | 1.35% |
Source: Ownwell
Property Tax Assessment Values Across Rayville, Missouri
In Rayville, 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 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 Rayville, 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 Rayville helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The highest median tax bill in Rayville is $1,478 in zip code 64084, while the lowest median tax bill is also $1,478 in the same zip code.
Average Rayville Assessed Value
$119,575
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 Rayville, Missouri
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 64084 | $28,405 | $70,958 | $119,575 | $167,168 | $211,350 |
Source: Ownwell
Property Tax Bills Across Rayville, Missouri
In Rayville, 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 median home price in Rayville is $119,575. Tax bills are then derived by applying the local property tax rate to this assessed value. Various factors, such as property improvements, neighborhood developments, and overall market trends, can influence the assessed value. The median property tax rate in the area is 0.99%, aligning with the national median. Homeowners in Rayville can expect their tax bills to vary significantly, with the 25th percentile tax bill at $814 and the 75th percentile reaching $2072. For those at the 90th percentile, tax bills can be as high as $2662. The highest median tax bill recorded in the area is $1478, which also corresponds to the zip code 64084. These taxes contribute to essential local services, impacting homeowners by funding schools, public safety, and infrastructure.
Average Rayville Tax Bill
$1,478
Average Ray County Tax Bill
$1,429
Average Missouri Tax Bill
$1,606
Average United States Tax Bill
$2,690
Property Tax Bills Across Rayville, Missouri
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 64084 | $327 | $814 | $1,478 | $2,072 | $2,662 |
Source: Ownwell