Stover, Missouri Property Taxes
The median property tax rate in Stover, MO is 1.00%, slightly higher than the national median of 0.99% but lower than the Missouri state median of 1.20%. With a median home value of $60,263 in Stover, the typical annual property tax bill amounts to $602, which is significantly below the national median of $2,690. Property taxes in Stover are calculated based on the tax assessed value, which is often lower than the market value due to various exemptions, such as those for primary residences and agricultural properties. Understanding Stover'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 Stover or another part of the city, understanding the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Stover, Missouri Property Tax Bill Calculator
$100,000
$2,500,000
$5,000,000
Average Tax Rate
1.2%
Estimate Property Tax Bill
$2,400
Ownwell’s Stover Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Stover with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Stover 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 Stover, Missouri
Property taxes in Stover, Missouri, are vital in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Stover is 1.00%, which is higher than the U.S. national median of 0.99%. Local government entities within Stover set these rates annually, and they can vary significantly across different neighborhoods. Each year, Stover 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 Stover's effective property tax rate to other counties in Missouri and the national median. For comparison, the 65078 zip code has the highest median property tax rate of 1.00%, while the 65078 zip code also has the lowest median tax rate of 1.00%. Understanding how these cities compare with Stover provides valuable insights into the varying tax landscape across Benton County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Stover Tax Rate
1.00%
Average Benton County Tax Rate
0.98%
Average Missouri Tax Rate
1.20%
Average United States Tax Rate
0.99%
Property Tax Rates Across Stover, Missouri
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 65078 | 1.00% | 1.00% | 1.00% | 1.00% | 1.00% |
Source: Ownwell
Property Tax Assessment Values Across Stover, Missouri
In Stover, 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 Benton County Appraisal District 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 Stover, 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 Stover helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The zip code with the highest median tax bill is 65078 at $602, which is also the lowest median tax bill in the area.
Average Stover Assessed Value
$60,263
Average Benton County Assessed Value
$50,947
Average Missouri Assessed Value
$129,505
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Stover, Missouri
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 65078 | $60,263 | $60,263 | $60,263 | $60,263 | $60,263 |
Source: Ownwell
Property Tax Bills Across Stover, Missouri
In Stover, located in Benton County, MO, property tax bills are calculated based on the assessed value of a property, which is a percentage of its market value. The median home price here is $60,263. The property tax rate is applied to this assessed value to determine the tax bill. Factors such as property improvements, local tax rates, and any applicable exemptions are considered in this calculation. For homeowners in Stover, the property tax bills are fairly uniform. The 25th, 75th, and 90th percentiles all report a tax bill of $602, which is also the highest median tax bill in the area. This consistency suggests a stable tax environment with predictable expenses for homeowners. Compared to the national median property tax rate of 0.99%, the rates in Stover provide a clear picture of the financial obligations tied to property ownership. Understanding these factors helps homeowners budget effectively and anticipate their annual property tax liabilities.
Average Stover Tax Bill
$602
Average Benton County Tax Bill
$492
Average Missouri Tax Bill
$1,606
Average United States Tax Bill
$2,690
Property Tax Bills Across Stover, Missouri
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 65078 | $602 | $602 | $602 | $602 | $602 |
Source: Ownwell