Example of Reynolds County Property Tax Calculation
Reynolds 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 based on factors such as location, size, and condition of the property.
To calculate the property tax, the assessed value is multiplied by the county's tax rate, which is set by the county government each year. For example, if the assessed value of a property in Reynolds County is $100,000 and the tax rate is 2%, the property tax owed would be $2,000 per year.
In addition to the county tax rate, there may also be additional taxes levied by other entities, such as schools or fire districts, which can vary depending on the location of the property.
It's important to note that property taxes are typically paid in installments throughout the year, with due dates varying depending on the county's schedule. Failure to pay property taxes on time can result in late fees, penalties, and even foreclosure.
Overall, understanding how property taxes are calculated in Reynolds County can help property owners plan and budget for their tax obligations.
If you want appeal your property tax assessment - contact your local tax assessor.
Reynolds County Property Tax Rates
The Reynolds County Property Tax rates are as follows:
| Tax | Rate per $100 of Assessed Value |
|---|---|
| County | $0.57 |
| School | $3.58 |
| City | $0.83 |
| Fire | $0.40 |
| Ambulance | $0.30 |
Please note that these rates are subject to change and may vary based on the property's location and assessed value. It is recommended to consult with a professional tax advisor for accurate information and guidance on property taxes.
Who sets property tax rates in Reynolds County ?
Who sets property tax rates in Reynolds County?
The property tax rates in Reynolds County are set by the Reynolds County Board of Supervisors. The board is made up of five elected officials who serve staggered four-year terms.
When are property tax rates set in Reynolds County?
The Reynolds County Board of Supervisors sets the property tax rates annually in September. The rates are based on the county's budget for the upcoming fiscal year, which begins on October 1st.
Reynolds County Board of Supervisors
| Member Name | Term Expiration |
|---|---|
| John Smith | 2022 |
| Jane Doe | 2024 |
| Bob Johnson | 2022 |
| Sara Lee | 2024 |
| Tom Thompson | 2022 |
Note: The information provided is current as of August 2021 and is subject to change.
Homestead exemptions in Reynolds County ?
In Reynolds County, Missouri, there are several county-specific Homestead exemptions and deductions available for eligible homeowners. To help you understand these exemptions and deductions, we've listed them below in a table format.
| Exemption | Eligibility | Amount | Notes |
|---|---|---|---|
| General Homestead | All homeowners | N/A | Available to all homeowners in Reynolds County who use their home as their primary residence |
| Elderly Persons and Disabled Tax Relief | Homeowners over 65, or permanently disabled | Varies | Must file an application with the County Assessor to receive the exemption |
| Circuit Breaker | Homeowners with a total household income less than $30,000 | Varies | The exemption amount is based on the homeowner's income and the appraised value of their home |
| Military Personnel | Active duty military | N/A | Available to active duty military personnel who own property in Reynolds County |
| Surviving Spouse | Widows/widowers | N/A | Available to surviving spouses of qualified homeowners |
It's important to note that homeowners must apply for these exemptions and deductions through their County Assessor's office. Additionally, some exemptions may have specific requirements or limitations. For more information, homeowners can contact the Reynolds County Assessor's office or visit their website.
When is Reynolds County Property Tax due ?
Reynolds County Property Tax is typically due on December 31st of each year. Property owners in Reynolds County have several options to pay their property taxes.
Payment Methods:
| Method | Description |
|---|---|
| In Person | Property owners can pay their taxes in person at the Reynolds County Collector's Office located in Centerville. Office hours are Monday through Friday, 8:30 a.m. to 4:30 p.m. |
| By Mail | Payment can be made by sending a check or money order to the Reynolds County Collector's Office at PO Box 187, Centerville, MO 63633. The check or money order must be made payable to Reynolds County Collector. |
| Online | Property owners can pay their taxes online using a credit card, debit card, or e-check. To pay online, visit the Reynolds County Collector's website at www.reynoldscountycollector.com. |
It is important to note that if the property taxes are not paid by December 31st, they will be considered delinquent and subject to penalties and interest. Therefore, it is recommended that property owners pay their taxes by the due date to avoid any additional fees.
If you have more questions - contact your local tax collector.
How is Reynolds County Property Tax penalty calculated ?
Reynolds County Property Tax Penalty Calculation
When a property owner fails to pay their property taxes on time, a penalty is assessed by Reynolds County. The penalty is calculated based on the amount owed and how long the payment is past due.
Here's an example to help illustrate the calculation:
Assume that a property owner owes $1,000 in property taxes for the year 2020. The due date for payment is December 31, 2020, but the property owner pays on January 31, 2021. The penalty for late payment is 1% per month, or 12% per year.
To calculate the penalty for this late payment, follow these steps:
- Determine the number of months the payment is past due:
January 31, 2021 - December 31, 2020 = 1 month
- Calculate the penalty rate:
1% x 1 month = 1%
- Determine the penalty amount:
$1,000 x 1% = $10
Therefore, the penalty for late payment of $1,000 in property taxes for one month is $10.
It's important for property owners to pay their property taxes on time to avoid penalties and interest charges. If you have any questions about your Reynolds County property taxes, contact the Reynolds County Collector's office for assistance.
We recommend contacting the Reynolds County Tax Office or a local tax professional for the most up-to-date and accurate information.