Example of Platte County Property Tax Calculation
Platte County calculates property taxes based on the assessed value of the property. For example, if a home is assessed at $200,000, the property tax rate for that year is 2.5%, and there are no exemptions, the property owner would owe $5,000 in property taxes.
To calculate the tax, the assessed value is multiplied by the tax rate:
$200,000 x 0.025 = $5,000
It's important to note that property tax rates can vary year to year and exemptions may be available for certain properties such as primary residences, senior citizens, and veterans. Property owners should consult with their county's tax assessor's office for more specific information on their property tax calculation.
If you want appeal your property tax assessment - contact your local tax assessor.
Platte County Property Tax Rates
The Platte County Property Tax rates are as follows, presented in a formatted table with columns for tax and rate per $100 of assessed value:
| Tax | Rate per $100 of Assessed Value |
|---|---|
| County General Fund | $0.2676 |
| County Library Fund | $0.1305 |
| County Road and Bridge Fund | $0.2108 |
| Platte County R-3 School District | $5.1118 |
| Platte County Health Department | $0.0272 |
It is important to note that these rates are subject to change and residents should consult with a tax professional for personalized advice.
Who sets property tax rates in Platte County ?
The property tax rates in Platte County are determined by the Platte County Board of Supervisors. They typically set these rates annually, usually in the fall.
The Board of Supervisors takes into consideration a number of factors when determining the property tax rates, including budgetary needs, expected revenues, and any changes to property values in the area.
Property tax rates in Platte County are calculated based on the value of the property being taxed. The county's assessor determines the assessed value of each property based on a number of factors, including recent sales of similar properties in the area, improvements to the property, and current market conditions.
Once the assessed value is determined, the property tax rate is applied to that value to determine the amount of taxes owed. The exact rate of property tax varies depending on the location and type of property being taxed.
Overall, the property tax system in Platte County is designed to provide a stable source of revenue to fund local services and infrastructure while ensuring that property owners are paying their fair share.
Homestead exemptions in Platte County ?
In Platte County, Missouri, there are multiple Homestead exemptions and deductions available to its residents. The following table outlines the different county specific exemptions and deductions that can be claimed by eligible individuals:
| Exemption | Eligibility | Amount | Notes |
|---|---|---|---|
| General Homestead Exemption | Must own and occupy the property as their principal residence on January 1st of the tax year | Up to $6,000 assessed value | Must file an application with the County Assessor |
| Senior Citizens Property Tax Credit | Must be 65 years or older or disabled, and own and occupy the property as their principal residence on January 1st of the tax year | Credit up to 50% of property taxes | Income limitations apply, must file an application with the Missouri Department of Revenue |
| Circuit Breaker Property Tax Credit | Must be 65 years or older or disabled, and own and occupy the property as their principal residence on January 1st of the tax year | Credit up to $1,100 for renters, up to $1,700 for homeowners | Income limitations apply, must file an application with the Missouri Department of Revenue |
| Military Personnel Property Tax Credit | Must be a veteran or active duty military personnel who was a legal resident of Missouri at the time of entry into active duty | Credit up to $1,200 | Must file an application with the County Assessor |
| Disabled Veterans Homestead Exemption | Must be a veteran with a service-connected disability, and own and occupy the property as their principal residence on January 1st of the tax year | Up to $100,000 assessed value | Must file an application with the County Assessor |
It is important to note that each exemption and deduction has specific eligibility requirements and application procedures. Any eligible individual should carefully review the requirements and deadlines to ensure they receive the maximum benefit available.
When is Platte County Property Tax due ?
Platte County Property Tax Due Date and Payment Methods
Platte County property owners are required to pay property taxes annually. The due date for property tax payment in Platte County is typically December 31st. It is important to note that failure to pay property tax on time can result in penalties and interest charges.
Platte County provides property owners with several payment options. Here are some payment methods available for property owners:
| Payment Method | Details |
|---|---|
| Online Payments | Platte County provides an online payment system through its website. Property owners can pay using a credit card or eCheck. |
| Mail-In Payments | Property owners can send their payment through the mail. Payments must be postmarked by December 31st to avoid penalties and interest charges. |
| In-Person Payments | Property owners can pay in person at the county treasurer's office. Payments can be made using cash, check, or credit card. |
It is recommended that property owners pay their taxes on time to avoid penalties and interest charges. For more information about Platte County property taxes and payment options, visit the county treasurer's website.
If you have more questions - contact your local tax collector.
How is Platte County Property Tax penalty calculated ?
Platte County Property Tax Penalty Calculation
Property tax is an important source of revenue for local governments in the United States. Property owners are required to pay their taxes on time, failure to do so results in a penalty or interest that accrues until the amount is paid in full. In Platte County, Missouri, the penalty for late property taxes is calculated as follows:
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Delinquency Date: The penalty is calculated based on the delinquency date, which is the date after which the taxes are considered late. In Platte County, the delinquency date is January 1st of the year following the tax year.
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Penalty Percentage: The penalty percentage is set by the state and may vary by county. In Platte County, the penalty rate is 2% per month or 24% per year.
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Example Calculation: Let's say that John owns a property in Platte County, Missouri, and his property taxes for 2020 were due on December 31, 2020. However, John missed the deadline and did not pay his taxes until March 31, 2021. As a result, John's taxes will be considered delinquent, and he will be charged a penalty of 6% (2% x 3 months) in addition to the original tax amount.
To avoid the penalty, property owners should make sure to pay their taxes on time. Platte County offers several payment options, including online payments, in-person payments, and payments by mail. Property owners can also sign up for the county's installment payment plan to spread their tax payments over several months. By paying their taxes on time, property owners can avoid the penalty and help support their local community.
We recommend contacting the Platte County Tax Office or a local tax professional for the most up-to-date and accurate information.