Gerald, Missouri Property Taxes
The median property tax rate in Gerald, MO is 0.93%, slightly below the national median of 0.99% and significantly lower than Missouri's state median of 1.20%. With a median home value of $125,170, the typical annual property tax bill in Gerald amounts to $1,274, which is well under the national median of $2,690. Property taxes in Gerald are calculated based on the tax assessed value, which often falls below the market value due to exemptions like those for primary residences and agricultural properties. Navigating Gerald's property tax system, exploring available exemptions, and identifying opportunities for reductions can lead to substantial annual savings. Whether you're in the heart of Gerald or another part of Franklin County, understanding the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Gerald, 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 Gerald Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Gerald with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Gerald 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 Gerald, Missouri
Property taxes in Gerald, Missouri, are vital in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Gerald is 0.93%, which is lower than the U.S. national median of 0.99%. Local government entities within Gerald set these rates annually, and they can vary significantly across different neighborhoods. Each year, Gerald 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 Gerald's effective property tax rate to other counties in Missouri and the national median. For comparison, the zip code 63037 has both the highest and lowest median property tax rate of 0.93%. Understanding how these cities compare with Gerald provides valuable insights into the varying tax landscape across Franklin County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Gerald Tax Rate
0.93%
Average Franklin County Tax Rate
1.08%
Average Missouri Tax Rate
1.20%
Average United States Tax Rate
0.99%
Property Tax Rates Across Gerald, Missouri
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 63037 | 0.87% | 0.91% | 0.93% | 1.10% | 1.10% |
Source: Ownwell
Property Tax Assessment Values Across Gerald, Missouri
In Gerald, 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 Franklin 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 Gerald, 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. In Franklin County, the median home price is $125,170, with tax bills ranging from $967 at the 25th percentile to $2,233 at the 90th percentile. Being aware of these valuation processes in Gerald helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Gerald Assessed Value
$125,170
Average Franklin County Assessed Value
$143,800
Average Missouri Assessed Value
$129,505
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Gerald, Missouri
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 63037 | $29,283 | $85,675 | $125,170 | $172,368 | $232,561 |
Source: Ownwell
Property Tax Bills Across Gerald, Missouri
In Gerald, located in Franklin County, MO, property tax bills are calculated based on the assessed value of a home, which is determined as a percentage of its market value. The median home price in Gerald is $125,170. Once the assessed value is established, the local tax rate is applied to calculate the annual tax bill. Various factors, including property size, location, and improvements, influence the assessed value. For homeowners in Gerald, tax bills can vary significantly. The 25th percentile tax bill is approximately $967, while the 75th percentile reaches around $1709. At the 90th percentile, homeowners might see tax bills as high as $2233. These figures highlight the range of property tax burdens within the community. Comparatively, the national median property tax rate is 0.99%. Understanding these local tax dynamics is crucial for homeowners, as property taxes can significantly impact annual budgets and long-term financial planning.
Average Gerald Tax Bill
$1,274
Average Franklin County Tax Bill
$1,687
Average Missouri Tax Bill
$1,606
Average United States Tax Bill
$2,690
Property Tax Bills Across Gerald, Missouri
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 63037 | $620 | $967 | $1,274 | $1,709 | $2,233 |
Source: Ownwell