Republic, Missouri Property Taxes
The median property tax rate in Republic, MO is 0.98%, slightly below the national median of 0.99% but lower than the Missouri state median of 1.20%. With the median home value in Republic at $188,480, the typical annual property tax bill amounts to $1,854, which is significantly less than the national median of $2,690. Property taxes in Republic are calculated based on the tax assessed value, which often falls below the market value due to various exemptions like the primary residence and agricultural exemptions. Understanding Republic'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 Republic 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
Republic, 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 Republic Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Republic with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Republic 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 Republic, Missouri
Property taxes in Republic, Missouri, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Republic is 0.98%, which is just below the U.S. national median of 0.99%. Local government entities within Republic set these rates annually, and they can vary significantly across different neighborhoods. Each year, Republic 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 Republic's effective property tax rate to other areas in Missouri and the national median. For comparison, the highest median property tax rate in Republic is also 0.98% in the 65738 zip code, while the lowest median tax rate is the same at 0.98% in the same zip code. Understanding how these figures compare with Republic 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 Republic Tax Rate
0.98%
Average Lawrence County Tax Rate
0.92%
Average Missouri Tax Rate
1.20%
Average United States Tax Rate
0.99%
Property Tax Rates Across Republic, Missouri
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 65738 | 0.98% | 0.98% | 0.98% | 0.98% | 0.98% |
Source: Ownwell
Property Tax Assessment Values Across Republic, Missouri
In Republic, 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 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 Republic, 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 Republic helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. Notably, the highest median tax bill in Republic is $1,854 in the 65738 zip code, matching the lowest median tax bill, also $1,854 in the same zip code.
Average Republic Assessed Value
$188,480
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 Republic, Missouri
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 65738 | $57,555 | $99,520 | $188,480 | $261,478 | $274,707 |
Source: Ownwell
Property Tax Bills Across Republic, Missouri
In Republic, Lawrence County, MO, property tax bills are calculated based on the assessed value of a home, which is typically a percentage of the market value. The median home price in Republic is $188,480. The local property tax rate is applied to the assessed value to determine the annual tax bill. Factors such as local tax levies and any applicable exemptions also play a role in determining the final amount. Homeowners in Republic can expect their property tax bills to vary significantly. For instance, the tax bill at the 25th percentile is around $978, while at the 75th percentile, it rises to approximately $2,566. The 90th percentile tax bill can reach up to $2,683. These figures indicate a range of tax burdens, influenced by property values and specific local tax rates. Compared to the national median property tax rate of 0.99%, Republic's rates can result in relatively moderate to higher tax bills, affecting homeowners' annual financial planning and potentially influencing property affordability.
Average Republic Tax Bill
$1,854
Average Lawrence County Tax Bill
$784
Average Missouri Tax Bill
$1,606
Average United States Tax Bill
$2,690
Property Tax Bills Across Republic, Missouri
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 65738 | $566 | $978 | $1,854 | $2,566 | $2,683 |
Source: Ownwell