Smithton, Missouri Property Taxes
The median property tax rate in Smithton, MO is 1.13%, slightly higher than the national median of 0.99% but lower than the Missouri state median of 1.20%. With the median home value in Smithton at $166,000, the typical annual property tax bill amounts to $1,879, which is below the national median of $2,690. Property taxes in Smithton are calculated based on the tax assessed value, which often falls below the market value due to various exemptions such as those for primary residences and agricultural properties. Understanding Smithton'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 Smithton 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
Smithton, 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 Smithton Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Smithton with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Smithton 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 Smithton, Missouri
Property taxes in Smithton, Missouri, are vital in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Smithton is 1.13%, higher than both the Missouri state median and the U.S. national median of 0.99%. Local government entities within Smithton set these rates annually, and they can vary significantly across different neighborhoods. Each year, Smithton 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 Smithton's effective property tax rate to other counties in Missouri and the national median. For comparison, the 65350 zip code has the highest median property tax rate of 1.13%, while the same zip code also has the lowest median tax rate of 1.13%. Understanding how these cities compare with Smithton provides valuable insights into the varying tax landscape across Cooper County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Smithton Tax Rate
1.13%
Average Cooper County Tax Rate
1.38%
Average Missouri Tax Rate
1.20%
Average United States Tax Rate
0.99%
Property Tax Rates Across Smithton, Missouri
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 65350 | 1.12% | 1.12% | 1.13% | 1.13% | 1.14% |
Source: Ownwell
Property Tax Assessment Values Across Smithton, Missouri
In Smithton, 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 Cooper 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 Smithton, 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 Smithton 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 65350, with a value of $1,879.
Average Smithton Assessed Value
$166,000
Average Cooper County Assessed Value
$83,000
Average Missouri Assessed Value
$129,505
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Smithton, Missouri
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 65350 | $118,720 | $136,450 | $166,000 | $195,550 | $213,280 |
Source: Ownwell
Property Tax Bills Across Smithton, Missouri
In Smithton, Cooper County, MO, property tax bills are calculated based on the assessed value of a home, which is a percentage of its market value. The county's tax rate is applied to this assessed value to determine the annual tax bill. For example, with a median home price of $166,000, homeowners can expect their property tax bill to vary significantly. At the 25th percentile, tax bills are around $1,536, while at the 75th percentile, they rise to $2,223. The highest median tax bill in the area reaches $1,879 in the zip code 65350. Factors influencing the tax bill include the home's assessed value, changes in market conditions, and the specific tax rates set by local authorities. These property taxes fund essential public services such as schools, infrastructure, and emergency services, directly impacting the quality of life for residents. Compared to the national median property tax rate of 0.99%, Smithton's rates may offer a competitive advantage for homeowners.
Average Smithton Tax Bill
$1,879
Average Cooper County Tax Bill
$1,092
Average Missouri Tax Bill
$1,606
Average United States Tax Bill
$2,690
Property Tax Bills Across Smithton, Missouri
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 65350 | $1,330 | $1,536 | $1,879 | $2,223 | $2,429 |
Source: Ownwell