Oak Grove, Missouri Property Taxes
The median property tax rate in Oak Grove, MO, is 1.60%, considerably higher than both the national median of 0.99% and the Missouri state median of 1.20%. With the median home value in Oak Grove, the typical annual property tax bill reaches $2,226, exceeding the national median of $2,690. Property taxes in Oak Grove are calculated based on the tax assessed value, which typically falls below the market value due to various exemptions like the primary residence and agricultural exemptions. Understanding Oak Grove'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 Oak Grove 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
Oak Grove, Missouri Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.6%
Estimate Property Tax Bill
$2,224
Ownwell’s Oak Grove Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Oak Grove with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Oak Grove 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 Oak Grove, Missouri
Property taxes in Oak Grove, Missouri, are crucial in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Oak Grove is 1.60%, significantly higher than the U.S. national median of 0.99%. Local government entities within Oak Grove set these rates annually, and they can vary significantly across different neighborhoods. Each year, Oak Grove 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 Oak Grove's effective property tax rate to other areas in Missouri and the national median. For comparison, the zip code 64075 has the highest median property tax rate of 1.60%, while the same zip code also has the lowest median tax rate of 1.60%. Understanding how these areas compare with Oak Grove provides valuable insights into the varying tax landscape across Jackson County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Oak Grove Tax Rate
1.60%
Average Jackson County Tax Rate
1.56%
Average Missouri Tax Rate
1.20%
Average United States Tax Rate
0.99%
Property Tax Rates Across Oak Grove, Missouri
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 64075 | 1.46% | 1.57% | 1.60% | 1.60% | 1.60% |
Source: Ownwell
Property Tax Assessment Values Across Oak Grove, Missouri
In Oak Grove, 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 Jackson 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 Oak Grove, 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. The median home price in Oak Grove is $139,000, with tax bills ranging from $1,746 at the 25th percentile to $4,390 at the 90th percentile. The highest and lowest median tax bills are both $2,226 in the 64075 zip code. By understanding 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 Oak Grove helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Oak Grove Assessed Value
$139,000
Average Jackson County Assessed Value
$127,000
Average Missouri Assessed Value
$129,505
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Oak Grove, Missouri
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 64075 | $63,000 | $110,000 | $139,000 | $209,000 | $285,000 |
Source: Ownwell
Property Tax Bills Across Oak Grove, Missouri
In Oak Grove, located in Jackson County, MO, property tax bills are calculated based on the assessed value of the home, which is a percentage of its market value. The median home price in Oak Grove is $139,000. The assessed value is then multiplied by the local tax rate to determine the tax bill. Various factors influence this calculation, including the property's location, size, and any applicable exemptions. For instance, the tax bill at the 25th percentile is $1,746, while at the 75th percentile, it rises to $3,253. At the 90th percentile, homeowners can expect a tax bill of $4,390. These figures highlight the range of property taxes homeowners might face, depending on their property's assessed value. The highest and lowest median tax bills in Oak Grove are both $2,226, reflecting a consistent tax burden within the zip code 64075. Compared to the national median property tax rate of 0.99%, Oak Grove's rates are competitive, offering a balanced approach to property taxation.
Average Oak Grove Tax Bill
$2,226
Average Jackson County Tax Bill
$2,070
Average Missouri Tax Bill
$1,606
Average United States Tax Bill
$2,690
Property Tax Bills Across Oak Grove, Missouri
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 64075 | $992 | $1,746 | $2,226 | $3,253 | $4,390 |
Source: Ownwell