Galena, Missouri Property Taxes
The median property tax rate in Galena, MO is 0.84%, which is lower than both the national median of 0.99% and the Missouri state median of 1.20%. With a median home value of $132,000 in Galena, the typical annual property tax bill amounts to $1,112, which is below the national median of $2,690. Property taxes in Galena are calculated based on the tax assessed value, which is often less than the market value due to exemptions such as those for primary residences and agricultural properties. Understanding Galena'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 Galena 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
Galena, Missouri Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.84%
Estimate Property Tax Bill
$1,109
Ownwell’s Galena Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Galena with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Galena 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 Galena, Missouri
Property taxes in Galena, Missouri, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Galena is 0.84%, which is lower than the U.S. national median of 0.99%. Local government entities within Galena set these rates annually, and they can vary significantly across different neighborhoods. Each year, Galena 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. Understanding how these cities compare with Galena provides valuable insights into the varying tax landscape across Christian County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Galena Tax Rate
0.84%
Average Christian County Tax Rate
1.08%
Average Missouri Tax Rate
1.20%
Average United States Tax Rate
0.99%
Property Tax Rates Across Galena, Missouri
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 65656 | 0.84% | 0.84% | 0.84% | 0.84% | 0.84% |
Source: Ownwell
Property Tax Assessment Values Across Galena, Missouri
In Galena, 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 local 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 Galena, 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 Galena helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. In Galena, the median home price is $132,000. The zip code with the highest and lowest median tax bills is 65656, both at $1,112.
Average Galena Assessed Value
$132,000
Average Christian County Assessed Value
$157,000
Average Missouri Assessed Value
$129,505
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Galena, Missouri
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 65656 | $132,000 | $132,000 | $132,000 | $132,000 | $132,000 |
Source: Ownwell
Property Tax Bills Across Galena, Missouri
In Galena, located in Christian County, MO, property tax bills are calculated based on the assessed value of a home, which is a percentage of its market value. The median home price in Galena is $132,000. Property tax rates are applied to this assessed value to determine the annual tax bill. For instance, the tax bill for the 25th, 75th, and 90th percentiles all stand at $1,112, reflecting a consistent property tax rate across different property values in the area. This rate is notably higher than the national median property tax rate of 0.99%, indicating a significant impact on homeowners' annual expenses. Factors such as property improvements, neighborhood developments, and changes in local government budgets can influence the assessed value and, subsequently, the tax bill. Homeowners in Galena should be aware of these factors as they can affect their financial planning and the overall cost of owning a home in the region.
Average Galena Tax Bill
$1,112
Average Christian County Tax Bill
$1,599
Average Missouri Tax Bill
$1,606
Average United States Tax Bill
$2,690
Property Tax Bills Across Galena, Missouri
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 65656 | $1,112 | $1,112 | $1,112 | $1,112 | $1,112 |
Source: Ownwell