Leeton, Missouri Property Taxes
The median property tax rate in Leeton, MO is 1.26%, notably higher than both the national median of 0.99% and the Missouri state median of 1.20%. With a median home value of $59,384 in Leeton, the typical annual property tax bill amounts to $739, which is significantly lower than the national median of $2,690. Property taxes in Leeton are calculated based on the tax assessed value, which is often below the market value due to various exemptions such as primary residence and agricultural exemptions. Understanding Leeton'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 Leeton or another part of Johnson County, understanding the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Leeton, 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 Leeton Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Leeton with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Leeton 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 Leeton, Missouri
Property taxes in Leeton, Missouri, are crucial in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Leeton is 1.26%, significantly higher than the U.S. national median of 0.99%. Local government entities within Leeton set these rates annually, and they can vary significantly across different neighborhoods. Each year, Leeton 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 Leeton's effective property tax rate to other areas in Missouri and the national median. For comparison, the zip code 64761 has the highest median property tax rate of 1.26%, while the lowest median tax rate is also 1.26%. Understanding how these areas compare with Leeton provides valuable insights into the varying tax landscape across Johnson County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Leeton Tax Rate
1.26%
Average Johnson County Tax Rate
1.24%
Average Missouri Tax Rate
1.20%
Average United States Tax Rate
0.99%
Property Tax Rates Across Leeton, Missouri
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 64761 | 1.01% | 1.16% | 1.26% | 1.34% | 1.42% |
Source: Ownwell
Property Tax Assessment Values Across Leeton, Missouri
In Leeton, 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 Johnson 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 Leeton, 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 Leeton helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The zip code 64761 has the highest and lowest median tax bill at $739.
Average Leeton Assessed Value
$59,384
Average Johnson County Assessed Value
$74,883
Average Missouri Assessed Value
$129,505
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Leeton, Missouri
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 64761 | $12,997 | $26,406 | $59,384 | $92,944 | $138,704 |
Source: Ownwell
Property Tax Bills Across Leeton, Missouri
In Leeton, located in Johnson County, MO, property tax bills are determined based on the assessed value of a home, which is a percentage of its market value. The median home price in Leeton stands at $59,384. The county assessor evaluates properties to establish their assessed value, which is then multiplied by the local tax rate to calculate the tax bill. Factors such as property improvements, neighborhood developments, and market trends can influence the assessed value. For homeowners in Leeton, the property tax bill can vary significantly. For instance, the tax bill at the 25th percentile is around $304, while at the 75th percentile, it reaches $1,123. The 90th percentile tax bill can go up to $1,606. This range indicates that while some homeowners might have relatively low tax bills, others could face higher charges depending on their property's assessed value. Compared to the national median property tax rate of 0.99%, the tax burden in Leeton can be considered moderate, affecting homeowners differently based on their property's valuation.
Average Leeton Tax Bill
$739
Average Johnson County Tax Bill
$947
Average Missouri Tax Bill
$1,606
Average United States Tax Bill
$2,690
Property Tax Bills Across Leeton, Missouri
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 64761 | $148 | $304 | $739 | $1,123 | $1,606 |
Source: Ownwell