Bois D Arc, Missouri Property Taxes
The median property tax rate in Bois D Arc, MO is 0.97%, slightly below the national median of 0.99% and significantly lower than the Missouri state median of 1.20%. With the median home value in Bois D Arc at $71,491, the typical annual property tax bill amounts to $684, which is well below the national median of $2,690. Property taxes in Bois D Arc are calculated based on the tax assessed value, which often falls below the market value due to various exemptions such as the primary residence and agricultural exemptions. Understanding Bois D Arc'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 Bois D Arc or another part of Lawrence County, understanding the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Bois D Arc, 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 Bois D Arc Property Tax Bill Calculator empowers homeowners, real estate investors, and potential buyers to estimate their annual property taxes in Bois D Arc with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Bois D Arc 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 Bois D Arc, Missouri
Property taxes in Bois D Arc, Missouri, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Bois D Arc is 0.97%, slightly below the U.S. national median of 0.99%. Local government entities within Bois D Arc set these rates annually, and they can vary significantly across different neighborhoods. Each year, Bois D Arc 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 Bois D Arc's effective property tax rate to other counties in Missouri and the national median. For comparison, the 65612 zip code has both the highest and lowest median property tax rate of 0.97%. Understanding how these cities compare with Bois D Arc provides valuable insights into the varying tax landscape across Lawrence County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Bois D Arc Tax Rate
0.97%
Average Lawrence County Tax Rate
0.92%
Average Missouri Tax Rate
1.20%
Average United States Tax Rate
0.99%
Property Tax Rates Across Bois D Arc, Missouri
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 65612 | 0.84% | 0.94% | 0.97% | 0.98% | 0.98% |
Source: Ownwell
Property Tax Assessment Values Across Bois D Arc, Missouri
In Bois D Arc, 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 Lawrence 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 Bois D Arc, 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 Bois D Arc helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The highest median tax bill in Bois D Arc is $684 in zip code 65612, which is significantly lower than the national median property tax rate of 0.99%.
Average Bois D Arc Assessed Value
$71,491
Average Lawrence County Assessed Value
$87,220
Average Missouri Assessed Value
$129,505
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Bois D Arc, Missouri
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 65612 | $31,469 | $46,316 | $71,491 | $162,438 | $226,887 |
Source: Ownwell
Property Tax Bills Across Bois D Arc, Missouri
In Bois D Arc, located in Lawrence County, MO, property tax bills are calculated based on the assessed value of a home, which is a percentage of its market value. The median home price in this area is $71,491. Once the assessed value is determined, the local tax rate is applied to calculate the annual property tax bill. For homeowners in Bois D Arc, the tax bill can vary significantly. For instance, the 25th percentile tax bill is around $421, while the 75th percentile tax bill reaches approximately $1,595, and the 90th percentile tax bill is about $1,838. These figures indicate that property taxes can have a notable impact on homeowners' finances, especially when compared to the national median property tax rate of 0.99%. Factors such as property improvements, neighborhood developments, and local government budgets can influence these tax amounts. Homeowners should be aware of these variables as they can affect their annual property tax obligations, potentially leading to significant financial planning considerations.
Average Bois D Arc Tax Bill
$684
Average Lawrence County Tax Bill
$784
Average Missouri Tax Bill
$1,606
Average United States Tax Bill
$2,690
Property Tax Bills Across Bois D Arc, Missouri
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 65612 | $308 | $421 | $684 | $1,595 | $1,838 |
Source: Ownwell