Racine, Newton County, Missouri Property Taxes

Name: Property Tax Bills Across Racine, Newton County, Missouri
Creator: Ownwell
License: https://creativecommons.org/licenses/by-nc/4.0/

Median Racine, MO effective property tax rate: 1.10%, slightly higher than the national median of 1.02%, but lower than the Missouri state median of 1.20%.
Median Racine, MO home value: $59,550
Median annual Racine, MO tax bill: $740, $1,660 lower than the national median property tax bill of $2,400.

How are property taxes in Newton calculated?

Property taxes in Racine, 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 Racine’s property tax system, exemptions, and reduction opportunities can lead to significant savings. Regardless of where you live in Racine, knowing local tax details benefits homeowners and investors.

Last Updated March 1, 2025

Racine, Newton County, Missouri Property Tax Bill Calculator

Property Assessed Value

$100,000

$1,500,000

$3,000,000

Median Effective Tax Rate

1.1%

Estimate Property Tax Bill

$655

$608

Ownwell’s Racine Property Tax Bill Calculator empowers homeowners, real estate investors, and potential buyers to estimate their annual property taxes in Racine with just two data points. By entering your property's estimated assessed value, our calculator applies Racine’s median effective tax rate to accurately estimate your property tax bill. Note that your property's assessed value — determined by your county — reflects any exemptions you may have, ensuring a precise calculation for your property tax obligations. This insightful tool helps you understand potential tax liabilities and highlights how Ownwell can assist in reducing property taxes in Newton. For those interested in more localized information, please scroll down to explore city-level trends!

Property Tax Rates Across Racine, Newton County, Missouri

Local government entities determine tax rates, which can vary significantly within Missouri. Each county annually estimates its budgetary needs to provide essential services and divides this by the total value of taxable property within its jurisdiction, resulting in the property tax rate. Although the process involves votes and legislation, this is essentially how it works each year.

In Racine, located in Newton County, the effective property tax rate can be compared to other cities within Missouri and the national median. Missouri's median property tax rate stands at 1.10%, slightly above the national median of 1.02%. This comparison serves as a useful benchmark for property owners, helping them understand how Racine's tax obligations measure up against broader state and national trends.

For property owners in Racine, understanding these rates is crucial for financial planning and property investment decisions. It highlights the importance of staying informed about local tax policies and their potential impact on property values. By appealing or seeking exemptions, property owners can potentially lower their tax burden, making it an essential consideration for those looking to optimize their financial commitments.

Property Tax Rates Across Racine, Newton County, Missouri

Source: Ownwell

0.88%

1.10%

1.32%

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 Racine Tax Rate

1.10%

Median Effective Newton County Tax Rate

1.09%

Median Effective Missouri Tax Rate

1.20%

Median Effective United States Tax Rate

1.02%

Property Tax Rates Across Racine, Newton County, Missouri

Zip	10th Percentile	25th Percentile	Median Tax Rate	75th Percentile	90th Percentile
64858	N/A	N/A	N/A	N/A	N/A

Source: Ownwell

Property Tax Assessment Values Across Racine, Newton County, Missouri

When examining property taxes in Racine, 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 Newton County Appraisal District 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 Newton County, assessment notices are sent in the spring each year. They’ll typically reach your mailbox by the middle of April. 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 Racine.

For example, the median home price in Racine is $59,550, with tax bills ranging significantly across the county. The 90th percentile tax bill in Newton County is $1,284, which is below the national median property tax bill of $2,400.

Property Tax Assessment Values Across Racine, Newton County, Missouri

Source: Ownwell

$30,800

$110,850

$190,900

Median Racine Market Value

$59,550

Median Newton County Market Value

$71,800

Median Missouri Market Value

$129,505

Median United States Market Value

$235,294

Property Tax Assessment Values Across Racine, Newton County, Missouri

Zip	10th Percentile	25th Percentile	Median Home Price	75th Percentile	90th Percentile
64858	N/A	N/A	N/A	N/A	N/A

Source: Ownwell

Property Tax Bills Across Racine, Newton County, Missouri

In Racine, located in Newton County, Missouri, property tax bills are determined by assessing the property's value and applying the local tax rate. Homeowners in this area typically face a property tax bill that varies widely, with the 25th percentile at $486 and the 75th percentile reaching $1,157. The 90th percentile tax bill can go up to $1,284. These figures reflect how the tax burden can fluctuate based on property value assessments and local government budgets. The median home price in Racine is $59,550, which influences these tax calculations. Compared to the national median property tax bill of $2,400, Racine's homeowners generally benefit from lower tax obligations. However, even with relatively lower tax bills, homeowners in Racine can still benefit from appealing their property tax assessments to ensure they are not overpaying. Ownwell provides expert property tax appeal and exemption services, helping homeowners navigate the complexities of property tax assessments and potentially lower their tax bills, ensuring they only pay their fair share.

Property Tax Bills Across Racine, Newton County, Missouri

Source: Ownwell

$311

$1,446

$2,581

Median Racine Tax Bill

$740

Median Newton County Tax Bill

$791

Median Missouri Tax Bill

$1,606

Median United States Tax Bill

$2,400

Property Tax Bills Across Racine, Newton County, Missouri

Zip	10th Percentile	25th Percentile	Median Tax Bill	75th Percentile	90th Percentile
64858	N/A	N/A	N/A	N/A	N/A

Source: Ownwell