Pierce City, Missouri Property Taxes
The median property tax rate in Pierce City, MO is 0.88%, which is lower than both the national median of 0.99% and the Missouri state median of 1.20%. With the median home value in Pierce City at $94,598, the typical annual property tax bill is $817, significantly below the national median of $2,690. Property taxes in Pierce City are calculated based on the tax assessed value, which often falls below the market value due to exemptions such as primary residence and agricultural exemptions. Understanding Pierce City'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 Pierce City 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
Pierce City, 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 Pierce City Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Pierce City with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Pierce City 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 Pierce City, Missouri
Property taxes in Pierce City, Missouri, are vital in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Pierce City is 0.88%, slightly lower than the U.S. national median of 0.99%. Local government entities within Pierce City set these rates annually, and they can vary significantly across different neighborhoods. Each year, Pierce City 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 Pierce City's effective property tax rate to other counties in Missouri and the national median. For comparison, the 65723 zip code has both the highest and lowest median property tax rate of 0.88%. Understanding how these cities compare with Pierce City 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 Pierce City Tax Rate
0.88%
Average Lawrence County Tax Rate
0.92%
Average Missouri Tax Rate
1.20%
Average United States Tax Rate
0.99%
Property Tax Rates Across Pierce City, Missouri
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 65723 | 0.72% | 0.83% | 0.88% | 0.90% | 1.00% |
Source: Ownwell
Property Tax Assessment Values Across Pierce City, Missouri
In Pierce City, 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. Assessment notices in Pierce City 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 Pierce City helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. Notably, the zip code 65723 has both the highest and lowest median tax bill, standing at $817.
Average Pierce City Assessed Value
$94,598
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 Pierce City, Missouri
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 65723 | $19,211 | $40,862 | $94,598 | $155,384 | $216,951 |
Source: Ownwell
Property Tax Bills Across Pierce City, Missouri
In Pierce City, property tax bills are determined by the assessed value of a home and the local tax rate. Home values in Pierce City, located in Lawrence County, are assessed based on a percentage of their market value. The median home price in the area is $94,598. Property tax rates in Pierce City are relatively moderate compared to the national median property tax rate of 0.99%. Homeowners in Pierce City can expect their tax bills to vary significantly. The 25th percentile tax bill is $361, while the 75th percentile tax bill rises to $1,325. For those in the 90th percentile, tax bills can reach up to $1,921. The highest median tax bill recorded in the area is $817, which is consistent across the zip code 65723. These tax bills impact homeowners by influencing their overall cost of homeownership. Lower tax bills may make homeownership more affordable, while higher tax bills can increase annual expenses. Understanding these factors helps homeowners plan their finances more effectively.
Average Pierce City Tax Bill
$817
Average Lawrence County Tax Bill
$784
Average Missouri Tax Bill
$1,606
Average United States Tax Bill
$2,690
Property Tax Bills Across Pierce City, Missouri
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 65723 | $188 | $361 | $817 | $1,325 | $1,921 |
Source: Ownwell