64640 Property Tax Rate

Property owners in ZIP code 64640 (Gallatin, Missouri) pay a median of $1,178/year in property taxes on homes valued at $177,400. This translates to an effective tax rate of 0.66%, which is 15% below the Missouri state average of 0.78%.

The monthly property tax burden for a median-valued home in 64640 is approximately $98, which factors into escrow payments on mortgages. This ZIP code is located within Daviess County.

Compared to similar ZIP codes in Missouri, 64640 has lower property taxes. ZIP codes with similar effective rates include 65051 (0.66%) and 63545 (0.66%).

In Gallatin, property taxes represent approximately 2.1% of the median household income of $56,250, providing context for the relative tax burden on homeowners in this area.

Missouri reassesses properties at their purchase price when sold, with no state-imposed annual increase limit thereafter. Daviess County offers a Homestead Exemption and Senior Citizen exemption (65+); apply directly to the Daviess County Assessor's office to secure tax relief. File your exemption application promptly and request written confirmation from the Daviess County Assessor that it applies to your current tax year.