Shell Knob, Missouri Property Taxes
The median property tax rate in Shell Knob, MO is 0.92%, slightly lower than the national median of 0.99% and significantly below the Missouri state median of 1.20%. With the median home value in Shell Knob at $114,100, the typical annual property tax bill is $1,028, which is notably less than the national median of $2,690. Property taxes in Shell Knob are calculated based on the tax assessed value, often lower than the market value due to exemptions like the primary residence and agricultural exemptions. Understanding Shell Knob's property tax system, exploring available exemptions, and identifying opportunities for reductions can lead to significant annual savings. Whether you're in the heart of Shell Knob or elsewhere in Barry County, understanding the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Shell Knob, Missouri Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.92%
Estimate Property Tax Bill
$1,050
Ownwell’s Shell Knob Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Shell Knob with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Shell Knob 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 Barry County for property tax calculations, accounting for any exemptions that may apply.
Property Tax Rates Across Shell Knob, Missouri
Property taxes in Shell Knob, Missouri, are vital in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Shell Knob is 0.92%, which is below the U.S. national median of 0.99%. Local government entities within Shell Knob set these rates annually, and they can vary significantly across different neighborhoods. Each year, Shell Knob 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 Shell Knob's effective property tax rate to other areas in Barry County and the national median. For comparison, the zip code 65747 has both the highest and lowest median property tax rate of 0.92%. Understanding how these areas compare with Shell Knob 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 Shell Knob Tax Rate
0.92%
Average Barry County Tax Rate
0.86%
Average Missouri Tax Rate
1.20%
Average United States Tax Rate
0.99%
Property Tax Rates Across Shell Knob, Missouri
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 65747 | 0.85% | 0.90% | 0.92% | 0.93% | 0.96% |
Source: Ownwell
Property Tax Assessment Values Across Shell Knob, Missouri
In Shell Knob, 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 Shell Knob, 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. Being aware of these valuation processes in Shell Knob helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The median home price here is $114,100, with tax bills ranging from $702 at the 25th percentile to $2,328 at the 90th percentile. The zip code 65747 has the highest and lowest median tax bill at $1,028.
Average Shell Knob Assessed Value
$114,100
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 Shell Knob, Missouri
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 65747 | $47,640 | $79,175 | $114,100 | $173,125 | $255,430 |
Source: Ownwell
Property Tax Bills Across Shell Knob, Missouri
In Shell Knob, Barry County, MO, property tax bills are calculated based on the assessed value of a property, which is typically a percentage of the market value. For homeowners, the median home price is $114,100. The tax rate then applies to this assessed value to determine the annual tax bill. Several factors influence the tax bill, including property location, improvements, and any applicable exemptions. For instance, the 25th percentile tax bill is $702, while the 75th percentile tax bill is $1,529, showing a range based on property specifics. The highest median tax bill in the area reaches $1,028, and the lowest is also $1,028, indicating a consistent rate within the zip code 65747. Compared to the national median property tax rate of 0.99%, Shell Knob homeowners experience varied tax bills that reflect the assessed values and local tax policies, impacting their annual financial obligations.
Average Shell Knob Tax Bill
$1,028
Average Barry County Tax Bill
$696
Average Missouri Tax Bill
$1,606
Average United States Tax Bill
$2,690
Property Tax Bills Across Shell Knob, Missouri
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 65747 | $392 | $702 | $1,028 | $1,529 | $2,328 |
Source: Ownwell