Oldfield, Missouri Property Taxes
The median property tax rate in Oldfield, MO is 0.88%, 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 $110,450 in Oldfield, the typical annual property tax bill is approximately $940, significantly below the national median of $2,690. Property taxes in Oldfield are calculated based on the tax assessed value, which is often lower than the market value due to exemptions such as those for primary residences and agricultural properties. Understanding Oldfield's property tax system, exploring available exemptions, and identifying opportunities for reductions can yield substantial annual savings. Whether you're in the heart of Oldfield or another part of Christian County, grasping the local property tax system is advantageous for both homeowners and real estate investors.
Last Updated June 14, 2024
Oldfield, 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 OLDFIELD Property Tax Bill Calculator empowers homeowners, real estate investors, and potential buyers to estimate their annual property taxes in OLDFIELD using just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in OLDFIELD to provide an estimated property tax bill. This invaluable tool helps you understand potential tax liabilities. For those interested in neighborhood-level trends, simply scroll down for more localized information. Your property’s assessed value is determined by Christian County for property tax purposes, taking into account any applicable exemptions.
Property Tax Rates Across Oldfield, Missouri
Property taxes in Oldfield, Missouri, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Oldfield is 0.88%, slightly lower than the U.S. national median of 0.99%. Local government entities within Oldfield set these rates annually, and they can vary significantly across different neighborhoods. Each year, Oldfield 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 Oldfield's effective property tax rate to other counties in Missouri and the national median. For comparison, the 65720 zip code has the highest median property tax rate of 0.88%, while the same zip code also has the lowest median tax rate of 0.88%. Understanding how these cities compare with Oldfield 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 Oldfield Tax Rate
0.88%
Average Christian County Tax Rate
1.08%
Average Missouri Tax Rate
1.20%
Average United States Tax Rate
0.99%
Property Tax Rates Across Oldfield, Missouri
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 65720 | 0.67% | 0.79% | 0.88% | 0.95% | 1.02% |
Source: Ownwell
Property Tax Assessment Values Across Oldfield, Missouri
In Oldfield, 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 Christian 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 Oldfield, 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 Oldfield helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. In Oldfield, the highest median tax bill is found in the 65720 zip code, amounting to $940.00, while the lowest median tax bill is also in the 65720 zip code, at $940.00. The median home price in Oldfield is $110,450, with tax bills ranging from $586 at the 25th percentile to $2,097 at the 90th percentile.
Average Oldfield Assessed Value
$110,450
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 Oldfield, Missouri
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 65720 | $49,290 | $75,300 | $110,450 | $164,550 | $245,900 |
Source: Ownwell
Property Tax Bills Across Oldfield, Missouri
In Oldfield, located in Christian County, MO, property tax bills are determined based on the assessed value of a property, which is a percentage of its market value. The assessed value is then multiplied by the local tax rate to calculate the tax bill. For instance, with a median home price of $110,450, the tax bill varies significantly across different percentiles. Homeowners in the 25th percentile pay around $586, while those in the 75th percentile face a tax bill of approximately $1,361. The tax burden can be even higher, reaching up to $2,097 for the 90th percentile. The highest and lowest median tax bills in the area are both $940, found in the zip code 65720. This variability in tax bills affects homeowners differently, depending on the assessed value of their property and the specific tax rate applied. Compared to the national median property tax rate of 0.99%, the rates in Oldfield can lead to a wide range of tax obligations, impacting household budgets and financial planning.
Average Oldfield Tax Bill
$940
Average Christian County Tax Bill
$1,599
Average Missouri Tax Bill
$1,606
Average United States Tax Bill
$2,690
Property Tax Bills Across Oldfield, Missouri
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 65720 | $362 | $586 | $940 | $1,361 | $2,097 |
Source: Ownwell