Example of Audrain County Property Tax Calculation
Audrain County calculates property taxes based on the assessed value of the property. The assessed value is determined by the county assessor's office and is equal to the market value of the property multiplied by the assessment rate, which is currently 19%.
For example, if a property in Audrain County has a market value of $100,000, the assessed value would be $19,000 ($100,000 x 0.19).
To calculate the property tax, the assessed value is multiplied by the tax rate, which is set by the county government. For 2020, the tax rate in Audrain County is $0.5750 per $100 of assessed value.
Using the example above, the property tax for the $100,000 property in Audrain County would be $1097.50 ($19,000 x 0.5750).
It's important to note that property tax rates and assessment rates can vary by county and can change from year to year.
If you want appeal your property tax assessment - contact your local tax assessor.
Audrain County Property Tax Rates
Here is a table of Audrain County Property Tax Rates as of 2021:
| Tax | Rate per $100 of Assessed Value |
|---|---|
| Real Estate | $0.6949 |
| Personal Property | $0.4270 |
| Agricultural | $0.5816 |
| Commercial | $0.9468 |
| Industrial | $0.9468 |
Note that these rates are subject to change and are specific to Audrain County in Missouri. It is always recommended to consult with a tax professional for personalized advice on property taxes.
Who sets property tax rates in Audrain County ?
In Audrain County, property tax rates are set by the County Assessor's Office. The tax rates are determined annually and are based on the assessed value of the property as well as the budgetary needs of the county government. The tax rates are typically set in the fall before the tax year begins on January 1st. The exact amount of property taxes owed by a property owner is calculated by multiplying the property's assessed value by the tax rate. It is important for property owners in Audrain County to stay informed of the tax rates and any changes that may affect their property taxes.
| What | Who | When |
|---|---|---|
| Sets property tax rates | County Assessor's Office | Annually, in the fall |
Homestead exemptions in Audrain County ?
Table: Audrain County Homestead Exemptions and Deductions
| Exemption | Eligibility | Amount | Notes |
|---|---|---|---|
| General Homestead Exemption | Primary residence | Up to $6,000 in assessed value | Applies to all counties in Missouri |
| Senior Citizens' Exemption | Age 65 or older, or totally disabled | Up to $8,000 in assessed value for primary | Must have owned and lived in the house for at least 6 months prior to filing |
| Veterans' Exemption | Military service during a recognized war or conflict | Up to $1,000 in assessed value | Must provide proof of eligibility and apply for exemption with the county assessor |
| Disabled Veterans' Exemption | Service-connected disability | Up to $100,000 in assessed value | Must provide proof of eligibility and apply for exemption with the county assessor |
| Homestead Preservation Credit | Property owner with income less than $30,000/year | Up to 5% of property tax liability | Must apply annually with the Missouri Department of Revenue |
| Circuit Breaker Property Tax Credit | Primary residence, income less than $30,000/year, age 65 or older | Up to $1,100 credit for property tax liability | Must apply annually with the Missouri Department of Revenue |
| Property Tax Credit for Renters | Renter with income less than $27,500/year | Up to $750 credit for rent payments | Must apply annually with the Missouri Department of Revenue |
Note: This table includes the county specific Homestead exemptions and deductions for Audrain County in Missouri. It is important to note that these exemptions and deductions may vary by county and state. It is recommended that individuals consult with their local county assessor's office for more information on specific eligibility requirements and application processes.
When is Audrain County Property Tax due ?
Audrain County Property Tax is typically due on December 31st of each year. However, taxpayers have the option to pay their property taxes in two installments. The first installment is due on December 31st while the second installment is due on June 30th of the following year.
There are several methods available for taxpayers to pay their property taxes in Audrain County. These include:
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In-person: Taxpayers can visit the Audrain County Collector's Office to pay their property taxes in person. The Collector's Office is located at 101 N. Jefferson St., Room 101, Mexico, MO 65265.
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By mail: Taxpayers can mail their property tax payments to the Audrain County Collector's Office at P.O. Box 347, Mexico, MO 65265.
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Online: Taxpayers can pay their property taxes online using a credit/debit card or e-check through the Audrain County Collector's website. The website can be accessed at https://www.audraincollector.com.
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By phone: Taxpayers can make their property tax payments by phone using a credit/debit card or e-check. The phone number for property tax payments is (888) 877-0450.
It is important for taxpayers to make their property tax payments on time to avoid late fees and penalties.
If you have more questions - contact your local tax collector.
How is Audrain County Property Tax penalty calculated ?
Audrain County Property Tax Penalty Calculation
Property taxes are an essential part of local government funding, but what happens if you don't pay on time? In Audrain County, property tax penalties and interest are added when taxes aren't paid by the due date.
Penalty Calculation:
- The initial penalty for late payment is 2% of the unpaid taxes.
- If the taxes remain unpaid 30 days after the due date, an additional penalty of 1% is added.
- After 60 days, another 1% penalty is applied.
- Finally, if the taxes are still delinquent after 90 days, an additional 1% penalty is applied each month until the taxes are paid in full.
Example:
Let's say the property tax bill for a home in Audrain County is $2,000, and the due date is December 31st. However, the taxpayer pays on February 15th, which is 46 days late.
- Initial Penalty: 2% of $2,000 = $40
- 30 Days Late: Additional 1% of $2,000 = $20
- 60 Days Late: Additional 1% of $2,000 = $20
- Total Penalty: $40 + $20 + $20 = $80
Therefore, the total amount due (including penalties) would be $2,080 ($2,000 + $80).
In conclusion, paying property taxes on time is crucial to avoid incurring penalties and interest. If you're unable to pay on time, it's recommended to contact the Audrain County Collector's Office to discuss payment plan options.
We recommend contacting the Audrain County Tax Office or a local tax professional for the most up-to-date and accurate information.