Rocky Comfort, Missouri Property Taxes
The median property tax rate in Rocky Comfort, MO is 0.88%, which is lower than both the national median of 0.99% and Missouri's state median of 1.20%. With a median home value of $63,200 in Rocky Comfort, the typical annual property tax bill amounts to $461, significantly less than the national median of $2,690. Property taxes in Rocky Comfort are determined based on the assessed value, which is often lower than the market value due to exemptions like primary residence and agricultural exemptions. By understanding Rocky Comfort's property tax system, exploring available exemptions, and identifying opportunities for reductions, homeowners and real estate investors can achieve substantial annual savings. Whether you're in the heart of Rocky Comfort or elsewhere in Barry County, gaining insight into the local property tax system is beneficial.
Last Updated June 14, 2024
Rocky Comfort, Missouri Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.88%
Estimate Property Tax Bill
$556
Ownwell’s Rocky Comfort Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Rocky Comfort with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Rocky Comfort to estimate your property tax bill. This insightful tool helps you understand potential tax liabilities. If you’re interested in seeing trends on a neighborhood level, scroll down to find more localized information. Your property’s assessed value is the value assigned by the county for property tax calculations, accounting for any exemptions that may apply.
Property Tax Rates Across Rocky Comfort, Missouri
Property taxes in Rocky Comfort, Missouri, are essential in funding crucial local services such as public schools, road maintenance, and emergency services. The median tax rate in Rocky Comfort is 0.88%, which is lower than the U.S. national median of 0.99%. Local government entities within Rocky Comfort set these rates annually, and they can vary significantly across different neighborhoods. Each year, Rocky Comfort estimates its required budget to maintain services for the upcoming fiscal year, then divides this budget by the total value of all taxable property within the jurisdiction to calculate the property tax rate. While tax rates and budgets are influenced by laws and voter input, this calculation forms the basis of setting property tax rates. The data below compares Rocky Comfort's effective property tax rate to other regions and the national median. For comparison, the 64861 zip code has the highest median property tax rate of 0.88%, while also having the lowest median tax rate of 0.88%. Understanding how these areas compare with Rocky Comfort provides valuable insights into the varying tax landscape across Barry County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Rocky Comfort Tax Rate
0.88%
Average Barry County Tax Rate
0.86%
Average Missouri Tax Rate
1.20%
Average United States Tax Rate
0.99%
Property Tax Rates Across Rocky Comfort, Missouri
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 64861 | 0.69% | 0.84% | 0.88% | 0.92% | 1.06% |
Source: Ownwell
Property Tax Assessment Values Across Rocky Comfort, Missouri
In Rocky Comfort, Missouri, understanding the difference between "market value" and "assessed value" is crucial for comprehending property taxes. The market value is the price a willing buyer would pay a willing seller in an open and competitive market, influenced by factors like location, property condition, and economic trends. This value is estimated by the Barry County Assessor for tax purposes. In contrast, the assessed value is the market value minus any applicable exemptions or limits based on local laws and available programs. The assessed value is then used to calculate your property taxes by multiplying it by the combined tax rates of all relevant taxing entities. In Rocky Comfort, assessment notices are typically mailed out in the spring, usually by mid-April. These notices provide homeowners with both the market and assessed values, along with an estimate of the annual property tax bill. By understanding the distinction between these valuation concepts, property owners can better navigate their tax responsibilities and comprehend how their property taxes are determined. For instance, zip code 64861 has the highest and lowest median tax bill at $461. Being aware of these valuation processes in Rocky Comfort helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Rocky Comfort Assessed Value
$63,200
Average Barry County Assessed Value
$82,200
Average Missouri Assessed Value
$129,505
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Rocky Comfort, Missouri
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 64861 | $14,290 | $42,625 | $63,200 | $85,575 | $253,470 |
Source: Ownwell
Property Tax Bills Across Rocky Comfort, Missouri
In Rocky Comfort, property tax bills are calculated based on the assessed value of a home, which is determined by the local tax assessor. The assessed value is a percentage of the market value of the property. Homeowners in Barry County, where Rocky Comfort is located, can expect to pay a property tax rate that is in line with the county's standards. For instance, with a median home price of $63,200, property tax bills can vary significantly. The 25th percentile tax bill is around $155, while the 75th percentile tax bill is approximately $593. At the 90th percentile, homeowners might see tax bills as high as $769. The highest and lowest median tax bills in the area are both $461, which is notably lower than the national median property tax rate of 0.99%. These property tax bills can have a substantial impact on homeowners, influencing their overall housing costs and financial planning. Understanding how these taxes are calculated and what to expect can help homeowners better prepare for their annual expenses.
Average Rocky Comfort Tax Bill
$461
Average Barry County Tax Bill
$696
Average Missouri Tax Bill
$1,606
Average United States Tax Bill
$2,690
Property Tax Bills Across Rocky Comfort, Missouri
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 64861 | $116 | $155 | $461 | $593 | $769 |
Source: Ownwell