Sarcoxie, Missouri Property Taxes
The median property tax rate in Sarcoxie, MO is 0.80%, which is lower than both the national median of 0.99% and the Missouri state median of 1.20%. With a median home value in Sarcoxie of $110,983, the typical annual property tax bill comes to $911, significantly below the national median of $2,690. Property taxes in Sarcoxie 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 Sarcoxie'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 Sarcoxie 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
Sarcoxie, 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 Sarcoxie Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Sarcoxie with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Sarcoxie 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 Sarcoxie, Missouri
Property taxes in Sarcoxie, Missouri, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Sarcoxie is 0.80%, which is below both the Missouri state median and the U.S. national median of 0.99%. Local government entities within Sarcoxie set these rates annually, and they can vary significantly across different neighborhoods. Each year, Sarcoxie 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 Sarcoxie's effective property tax rate to other counties in Missouri and the national median. For comparison, the 64862 zip code has both the highest and lowest median property tax rate of 0.80%. Understanding how these cities compare with Sarcoxie 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 Sarcoxie Tax Rate
0.80%
Average Lawrence County Tax Rate
0.92%
Average Missouri Tax Rate
1.20%
Average United States Tax Rate
0.99%
Property Tax Rates Across Sarcoxie, Missouri
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 64862 | 0.68% | 0.77% | 0.80% | 0.83% | 0.88% |
Source: Ownwell
Property Tax Assessment Values Across Sarcoxie, Missouri
In Sarcoxie, 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 Sarcoxie, 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 Sarcoxie helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The median home price in Sarcoxie is $110,983, with the median tax bill ranging from $531 at the 25th percentile to $1,572 at the 90th percentile. The highest median tax bill is $911 in the 64862 zip code, which also has the lowest median tax bill of $911.
Average Sarcoxie Assessed Value
$110,983
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 Sarcoxie, Missouri
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 64862 | $44,716 | $68,004 | $110,983 | $154,228 | $192,040 |
Source: Ownwell
Property Tax Bills Across Sarcoxie, Missouri
Property tax bills in Sarcoxie, located in Lawrence County, MO, are calculated based on the assessed value of a property and the local tax rate. The assessed value is a percentage of the property's market value, which is determined by the county assessor. Once the assessed value is established, it is multiplied by the local tax rate to determine the annual property tax bill. For homeowners in Sarcoxie, the median home price stands at $110,983. Property tax bills can vary significantly, ranging from the 25th percentile at $531 to the 75th percentile at $1,195, with the 90th percentile reaching up to $1,572. These variations are influenced by factors such as property size, location, and improvements. Compared to the national median property tax rate of 0.99%, Sarcoxie's tax bills reflect the local economic conditions and public service funding needs. This directly impacts homeowners, as higher property taxes can affect affordability and the overall cost of homeownership in the area.
Average Sarcoxie Tax Bill
$911
Average Lawrence County Tax Bill
$784
Average Missouri Tax Bill
$1,606
Average United States Tax Bill
$2,690
Property Tax Bills Across Sarcoxie, Missouri
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 64862 | $349 | $531 | $911 | $1,195 | $1,572 |
Source: Ownwell