Rapid City, Morgan County, Missouri Property Taxes
Median Rapid City, MO effective property tax rate: 1.62%, significantly higher than the national median of 1.02%, but lower than the Missouri state median of 1.20%.
Median Rapid City, MO home value: $4,400
Median annual Rapid City, MO tax bill: $65, $2,335 lower than the national median property tax bill of $2,400.
How are property taxes in Morgan County calculated?
Property taxes in Rapid City, MO are calculated based on the tax assessed value, which is often lower than the actual market value due to property tax exemptions such as the homestead or senior exemption.
Understanding Rapid City’s property tax system, exemptions, and reduction opportunities can lead to significant savings. Regardless of where you live in Rapid City, knowing local tax details benefits homeowners and investors.
Last Updated March 1, 2025
Rapid City, Morgan County, Missouri Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Median Effective Tax Rate
1.62%
Estimate Property Tax Bill
$71
$66
Property Tax Rates Across Rapid City, Morgan County, Missouri
Local government entities set tax rates, which can vary widely within a state. Annually, each county estimates its required budget to provide services and divides that by the total value of all taxable property within its jurisdiction, resulting in the property tax rate. While votes and laws play a role in setting tax rates and budgets, this is the annual process in a nutshell.
In Rapid City, located in Morgan County, Missouri, the effective property tax rate is 1.62%. This rate is notably higher than the national median property tax rate of 1.02%. When compared to the median property tax rate in Missouri, Rapid City also stands out. These figures highlight the variability of property tax rates within the state and emphasize the importance of understanding how local rates can significantly impact property owners.
By being aware of these differences, property owners can make more informed decisions and potentially explore options for appealing their property tax assessments. Understanding the nuances of property tax rates can lead to substantial savings and more efficient financial planning.
Our median effective property tax rate (tax bill ÷ assessor's market value) accounts for exemptions and deductions, making it more accurate than the general median tax rate, which is the midpoint of statutory rates before adjustments.
Median Effective Rapid City Tax Rate
1.62%
Our median effective property tax rate (tax bill ÷ assessor's market value) accounts for exemptions and deductions, making it more accurate than the general median tax rate, which is the midpoint of statutory rates before adjustments.
Median Effective Morgan County Tax Rate
0.87%
Median Effective Missouri Tax Rate
1.20%
Median Effective United States Tax Rate
1.02%
Property Tax Rates Across Rapid City, Morgan County, Missouri
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|
Source: Ownwell
Property Tax Assessment Values Across Rapid City, Morgan County, Missouri
When examining property taxes in Rapid City, Missouri, understanding the distinction between "market value" and "assessed value" is crucial. The market value is what a willing buyer would pay to a willing seller in an open and competitive market, often influenced by location, property condition, and economic market trends. The Morgan County Assessor's Office estimates the market value for tax purposes. The assessed value is the market value minus any applicable exemptions or limits determined by local laws and offerings. The tax assessed value is the figure used to calculate your property taxes or the amount multiplied by your tax rate to get your tax bill.
In Morgan County, assessment notices are sent in the spring each year. They’ll typically reach your mailbox by the middle of May. Each property owner receives an assessment notice that contains both the market value and assessed value, along with an estimate of your property tax bill. By providing insights into how assessed and market values are determined, this section helps property owners navigate their tax responsibilities and understand the valuation processes affecting their property taxes in Rapid City. For example, the median home price in Rapid City is $4,400, with tax bills ranging significantly across the county.
Property Tax Assessment Values Across Rapid City, Morgan County, Missouri
Source: Ownwell
$1,750
$74,875
$148,000
Median Rapid City Market Value
$4,400
Median Morgan County Market Value
$49,350
Median Missouri Market Value
$129,505
Median United States Market Value
$235,294
Property Tax Assessment Values Across Rapid City, Morgan County, Missouri
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|
Source: Ownwell
Property Tax Bills Across Rapid City, Morgan County, Missouri
In Rapid City, located in Morgan County, MO, property tax bills are calculated based on the assessed value of a home. The assessed value is a percentage of the property's market value, which is determined by local assessors. Several factors influence this assessment, including the property's size, location, and condition. Homeowners in Rapid City face property tax bills that vary widely, with the 25th percentile paying around $56, while those in the 90th percentile may pay up to $79. This range highlights the disparity in property tax burdens among homeowners, which can significantly impact household budgets.
With the national median property tax bill standing at $2400, homeowners in Rapid City benefit from relatively lower tax bills. However, ensuring that your property is assessed fairly is crucial to avoid overpaying. This is where Ownwell can assist. By providing expert property tax appeal and exemption services, Ownwell helps homeowners navigate the complexities of property tax assessments. Our team works diligently to ensure your property is accurately assessed, potentially leading to substantial savings on your tax bill.
Median Rapid City Tax Bill
$65
Median Morgan County Tax Bill
$420
Median Missouri Tax Bill
$1,606
Median United States Tax Bill
$2,400
Property Tax Bills Across Rapid City, Morgan County, Missouri
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|
Source: Ownwell