Jerico Springs, Missouri Property Taxes
The median property tax rate in Jerico Springs, MO, is 0.93%, slightly below the national median of 0.99% and significantly lower than the Missouri state median of 1.20%. With a median home value of $66,260 in Jerico Springs, the typical annual property tax bill amounts to $615, which is well below the national median of $2,690. Property taxes in Jerico Springs are calculated based on the assessed value, which is often lower than the market value due to exemptions like those for primary residences and agricultural properties. By understanding Jerico Springs' property tax system, exploring available exemptions, and identifying opportunities for reductions, homeowners and real estate investors can achieve substantial annual savings. Whether you're in the heart of Jerico Springs or another part of Dade County, gaining insights into the local property tax system will provide significant financial benefits.
Last Updated June 14, 2024
Jerico Springs, Missouri Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.93%
Estimate Property Tax Bill
$616
Ownwell’s Jerico Springs Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Jerico Springs with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Jerico Springs 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 Jerico Springs, Missouri
Property taxes in Jerico Springs, Missouri, are crucial in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Jerico Springs is 0.93%, which is slightly below the U.S. national median of 0.99%. Local government entities within Jerico Springs set these rates annually, and they can vary significantly across different neighborhoods. Each year, Jerico Springs 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 Jerico Springs' effective property tax rate to other counties in Missouri and the national median. For comparison, the zip code 64756 has the highest median property tax rate of 0.93%, while the same zip code also has the lowest median tax rate of 0.93%. Understanding how these cities compare with Jerico Springs provides valuable insights into the varying tax landscape across Dade County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Jerico Springs Tax Rate
0.93%
Average Dade County Tax Rate
1.05%
Average Missouri Tax Rate
1.20%
Average United States Tax Rate
0.99%
Property Tax Rates Across Jerico Springs, Missouri
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 64756 | 0.66% | 0.84% | 0.93% | 1.02% | 1.03% |
Source: Ownwell
Property Tax Assessment Values Across Jerico Springs, Missouri
In Jerico Springs, 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 Dade 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 Jerico Springs, 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 Jerico Springs helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The median home price in Jerico Springs is $66,260, with tax bills ranging from $405 at the 25th percentile to $1,328 at the 90th percentile. The highest and lowest median tax bills are both $615 in zip code 64756.
Average Jerico Springs Assessed Value
$66,260
Average Dade County Assessed Value
$50,295
Average Missouri Assessed Value
$129,505
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Jerico Springs, Missouri
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 64756 | $31,276 | $42,910 | $66,260 | $115,620 | $132,122 |
Source: Ownwell
Property Tax Bills Across Jerico Springs, Missouri
In Jerico Springs, located in Dade County, MO, property tax bills are calculated based on the assessed value of a home, which is a percentage of its market value. The local tax rate is then applied to this assessed value to determine the annual tax bill. For example, with a median home price of $66,260, the property tax bill can vary significantly. Homeowners in the 25th percentile pay around $405, while those in the 75th percentile pay approximately $983. For the top 10% of property values, the tax bill can reach up to $1,328. Compared to the national median property tax rate of 0.99%, Jerico Springs residents experience a range of tax bills influenced by the assessed value of their properties. These property taxes fund essential community services, such as schools and infrastructure, directly impacting homeowners by contributing to the overall quality of life in the area.
Average Jerico Springs Tax Bill
$615
Average Dade County Tax Bill
$544
Average Missouri Tax Bill
$1,606
Average United States Tax Bill
$2,690
Property Tax Bills Across Jerico Springs, Missouri
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 64756 | $290 | $405 | $615 | $983 | $1,328 |
Source: Ownwell