Example of Daviess County Property Tax Calculation
Daviess County calculates property tax based on the assessed value of the property. To determine the assessed value, the county tax assessor multiplies the fair market value of the property by the assessment rate, which is set at 35%. For example, if a property has a fair market value of $100,000, the assessed value would be $35,000.
Once the assessed value is determined, the county tax rate is then applied. In Daviess County, the tax rate for 2021 is $0.61 per $100 of assessed value. Using the example above, the property tax on a $100,000 property would be calculated as follows:
Assessed value = $35,000 Tax rate = $0.61 per $100 of assessed value
($35,000 / 100) x $0.61 = $213.50
Therefore, the property tax on a $100,000 property in Daviess County for 2021 would be $213.50. It's important to note that property tax rates and assessment rates can vary depending on the county and state.
If you want appeal your property tax assessment - contact your local tax assessor.
Daviess County Property Tax Rates
Here is a formatted table of the Daviess County Property Tax Rates:
| Tax | Rate per $100 of assessed value |
|---|---|
| County General Fund | $0.220 |
| County Road | $0.080 |
| County Jail | $0.045 |
| County Library | $0.055 |
| Owensboro Health | $0.0525 |
| Owensboro Independent Schools | $0.815 |
| Daviess County Public Schools | $0.746 |
It is important to note that these rates are subject to change and may vary depending on individual circumstances. As a tax advisor, it is recommended that you consult with the Daviess County tax authority or a qualified tax professional for the most up-to-date and accurate information.
Who sets property tax rates in Daviess County ?
Who sets property tax rates in Daviess County?
The property tax rates in Daviess County, USA, are set by the Daviess County Fiscal Court. The Fiscal Court is responsible for overseeing the county's financial matters, including setting the property tax rates.
When are property tax rates set in Daviess County?
The Daviess County Fiscal Court typically sets the property tax rates once a year, usually around the end of June. Property owners in the county should receive their annual tax bills in the mail shortly after the rates are set.
Summary Table:
| Topic | Information |
|---|---|
| Who sets property tax rates in Daviess County? | The Daviess County Fiscal Court |
| When are property tax rates set in Daviess County? | Once a year, usually at the end of June |
Homestead exemptions in Daviess County ?
In Daviess County, Missouri, there are several Homestead exemptions and deductions available to qualifying residents. Here is a breakdown of the different options available:
Homestead Exemptions
| Exemption | Eligibility | Amount | Notes |
|---|---|---|---|
| General Homestead Exemption | Owner-occupied primary residence | $5,000 | Applies to all counties in Missouri |
| Veterans Homestead Exemption | Honorably discharged veterans or their unmarried surviving spouse | $12,000 | Additional exemption of $2,000 for veterans with a service-connected disability of 100% |
| Senior Citizens Property Tax Relief | Residents aged 65+ with a household income of $45,000 or less | Varies | Amount is based on income and property value |
Homestead Deductions
| Deduction | Eligibility | Amount | Notes |
|---|---|---|---|
| Personal Property Deduction | All homeowners | Up to $5,000 | Applies to personal property such as furniture and appliances |
| Agricultural Productivity Deduction | Property owners engaged in agricultural production | Varies | Deduction amount is determined by the Missouri State Tax Commission |
| Solar Energy System Deduction | Property owners who install a solar energy system | Varies | Deduction amount is equal to the cost of the solar energy system |
It's important to note that these exemptions and deductions may have specific requirements and deadlines for filing. Residents should consult with the Daviess County Assessor’s office for more information on how to apply for these tax breaks.
When is Daviess County Property Tax due ?
Daviess County Property Tax is typically due on November 1st each year. However, taxpayers have until May 10th of the following year to pay their property taxes before incurring any late fees or penalties.
There are several payment methods available for taxpayers to conveniently pay their property taxes. These payment methods include:
| Payment Method | Description |
|---|---|
| Online | Taxpayers can pay their property taxes online through the Daviess County website using a credit card or e-check. |
| By Mail | Taxpayers can mail a check or money order, along with their payment voucher, to the Daviess County Treasurer's Office. |
| In Person | Taxpayers can visit the Daviess County Treasurer's Office during regular business hours to pay their property taxes in person. Cash, check, and credit card payments are accepted. |
| Drop Box | Taxpayers can drop off their payment, along with their payment voucher, at the 24-hour drop box located outside the Daviess County Courthouse. |
It is important to note that property taxes in Daviess County are based on the assessed value of the property and are used to fund local government services, such as schools and public safety. Failure to pay property taxes on time can result in additional fees, interest charges, and even the possibility of losing ownership of the property. Therefore, it is recommended that taxpayers make timely payments to avoid any negative consequences.
If you have more questions - contact your local tax collector.
How is Daviess County Property Tax penalty calculated ?
Daviess County Property Tax Penalty Calculation
The penalty for late payment of property taxes in Daviess County, USA, is calculated based on a specific formula. Here's how the calculation is done:
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Determine the amount of unpaid taxes: The first step is to calculate the amount of unpaid taxes that remain after the due date.
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Add the penalty rate: Daviess County applies a penalty rate of 10% for any unpaid taxes that are delinquent.
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Add the interest rate: After the penalty has been added, the county also applies an annual interest rate of 1% on the unpaid balance.
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Example: Let's say that John owns a property in Daviess County that has an annual property tax bill of $2,000. John fails to pay the taxes by the due date, and the penalty date has passed. John's unpaid taxes would be calculated as follows:
- Unpaid taxes: $2,000
- Penalty rate: 10% of $2,000 = $200
- Subtotal: $2,200
- Interest rate: 1% of $2,200 = $22
- Total penalty: $200 + $22 = $222
In this example, John would have to pay a total penalty of $222 on top of the original $2,000 property tax bill.
It's important to note that penalties and interest continue to accrue until the unpaid taxes are paid in full. Therefore, it's best to pay property taxes on time to avoid any additional fees.
We recommend contacting the Daviess County Tax Office or a local tax professional for the most up-to-date and accurate information.