Springfield, Missouri Property Taxes
The median property tax rate in Springfield, MO is 1.01%, slightly higher than the national median of 0.99% but lower than Missouri's state median of 1.20%. With a median home value of $134,500 in Springfield, the typical annual property tax bill amounts to $1,395, which is notably below the national median of $2,690. Property taxes in Springfield are calculated based on the assessed value, which is often less than the market value due to exemptions such as those for primary residences and agricultural properties. Understanding Springfield’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 Springfield or another part of Greene County, understanding the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Springfield, 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 Springfield Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Springfield with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Springfield 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 Springfield, Missouri
Property taxes in Springfield, Missouri, are essential for funding critical local services such as public schools, road maintenance, and emergency services. The median tax rate in Springfield is 1.01%, which is slightly higher than the national median of 0.99%. Local government entities within Springfield set these rates annually, and they can vary significantly across different neighborhoods. Each year, Springfield 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 Springfield's effective property tax rate to other areas in Greene County and the national median. For comparison, the 65810 zip code has the highest median property tax rate of 1.05%, while the 65809 zip code has the lowest median tax rate of 1.00%. Understanding how these areas compare with Springfield provides valuable insights into the varying tax landscape across Greene County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Springfield Tax Rate
1.01%
Average Greene County Tax Rate
1.01%
Average Missouri Tax Rate
1.20%
Average United States Tax Rate
0.99%
Property Tax Rates Across Springfield, Missouri
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 65721 | N/A | N/A | N/A | N/A | N/A |
| 65742 | 1.01% | 1.01% | 1.01% | 1.01% | 1.01% |
| 65802 | 1.01% | 1.01% | 1.01% | 1.04% | 1.06% |
| 65803 | 1.01% | 1.01% | 1.01% | 1.09% | 1.09% |
| 65804 | 1.01% | 1.01% | 1.01% | 1.01% | 1.01% |
| 65806 | 1.01% | 1.01% | 1.01% | 1.01% | 1.01% |
| 65807 | 1.01% | 1.01% | 1.01% | 1.05% | 1.05% |
| 65809 | 1.00% | 1.00% | 1.00% | 1.01% | 1.07% |
| 65810 | 1.01% | 1.05% | 1.05% | 1.05% | 1.05% |
Source: Ownwell
Property Tax Assessment Values Across Springfield, Missouri
Understanding the difference between "market value" and "assessed value" is crucial for comprehending property taxes in Springfield, Missouri. 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 Greene 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 Springfield, 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. For instance, the highest median tax bill in Springfield is $4718 in the 65742 zip code, while the lowest is $527 in the 65806 zip code. Being aware of these valuation processes helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Springfield Assessed Value
$134,500
Average Greene County Assessed Value
$140,200
Average Missouri Assessed Value
$129,505
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Springfield, Missouri
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 65721 | N/A | N/A | N/A | N/A | N/A |
| 65742 | $466,300 | $466,300 | $466,300 | $466,300 | $466,300 |
| 65802 | $38,000 | $57,200 | $100,800 | $162,100 | $255,800 |
| 65803 | $38,600 | $53,400 | $86,150 | $141,900 | $226,550 |
| 65804 | $87,500 | $112,600 | $150,500 | $212,700 | $326,460 |
| 65806 | $34,600 | $40,500 | $51,500 | $75,775 | $116,420 |
| 65807 | $82,200 | $107,600 | $134,900 | $168,900 | $216,410 |
| 65809 | $145,080 | $201,000 | $281,900 | $426,750 | $699,600 |
| 65810 | $121,200 | $163,100 | $223,000 | $297,700 | $420,400 |
Source: Ownwell
Property Tax Bills Across Springfield, Missouri
In Springfield, located in Greene County, MO, property tax bills are calculated based on the assessed value of a home, which is a percentage of its market value. The assessed value is then multiplied by the local tax rate to determine the annual tax bill. For instance, with a median home price of $134,500, homeowners can expect varying tax bills depending on their property's specific assessment and applicable tax rates. Factors such as property location, improvements, and market conditions influence the assessed value. In Greene County, tax bills can range significantly; the 25th percentile tax bill is around $880, while the 75th percentile reaches $2,077, and the 90th percentile can be as high as $3,157. Comparatively, the highest median tax bill in the area is $4,718 in the 65742 zip code, while the lowest is $527 in the 65806 zip code. These variations highlight the impact of property taxes on homeowners, affecting their annual financial planning and overall housing affordability.
Average Springfield Tax Bill
$1,395
Average Greene County Tax Bill
$1,465
Average Missouri Tax Bill
$1,606
Average United States Tax Bill
$2,690
Property Tax Bills Across Springfield, Missouri
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 65721 | N/A | N/A | N/A | N/A | N/A |
| 65742 | $4,718 | $4,718 | $4,718 | $4,718 | $4,718 |
| 65802 | $393 | $590 | $1,038 | $1,705 | $2,705 |
| 65803 | $399 | $549 | $894 | $1,512 | $2,459 |
| 65804 | $901 | $1,152 | $1,542 | $2,185 | $3,335 |
| 65806 | $351 | $414 | $527 | $781 | $1,262 |
| 65807 | $851 | $1,105 | $1,391 | $1,744 | $2,254 |
| 65809 | $1,530 | $2,076 | $2,860 | $4,328 | $7,092 |
| 65810 | $1,313 | $1,731 | $2,338 | $3,108 | $4,410 |
Source: Ownwell