Shelbina, Missouri Property Taxes
The median property tax rate in Shelbina, MO is 0.94%, which is 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 Shelbina at $106,300, the typical annual property tax bill is $942, well below the national median of $2,690. Property taxes in Shelbina are calculated based on the tax assessed value, which often falls below the market value due to various exemptions, such as those for primary residences and agricultural properties. Understanding Shelbina'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 Shelbina 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
Shelbina, 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 Shelbina Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Shelbina with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Shelbina 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 Shelbina, Missouri
Property taxes in Shelbina, Missouri, are vital in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Shelbina is 0.94%, slightly lower than the U.S. national median of 0.99%. Local government entities within Shelbina set these rates annually, and they can vary significantly across different neighborhoods. Each year, Shelbina 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 Shelbina's effective property tax rate to other counties in Missouri and the national median. For comparison, the zip code 63468 has both the highest and lowest median property tax rate of 0.94%. Understanding how these areas compare with Shelbina provides valuable insights into the varying tax landscape across Monroe County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Shelbina Tax Rate
0.94%
Average Monroe County Tax Rate
0.97%
Average Missouri Tax Rate
1.20%
Average United States Tax Rate
0.99%
Property Tax Rates Across Shelbina, Missouri
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 63468 | 0.75% | 0.82% | 0.94% | 1.05% | 1.11% |
Source: Ownwell
Property Tax Assessment Values Across Shelbina, Missouri
In Shelbina, 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 Monroe 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 Shelbina, 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 Shelbina helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The highest and lowest median tax bills in Shelbina are both $942.00, found in the zip code 63468.
Average Shelbina Assessed Value
$106,300
Average Monroe County Assessed Value
$49,250
Average Missouri Assessed Value
$129,505
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Shelbina, Missouri
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 63468 | $19,700 | $60,700 | $106,300 | $173,725 | $270,050 |
Source: Ownwell
Property Tax Bills Across Shelbina, Missouri
In Shelbina, located in Monroe County, MO, property tax bills are calculated based on the assessed value of a home and the local tax rate. The assessed value is typically a percentage of the market value of the property. For instance, if a home has a median market value of $106,300, the assessed value will be determined according to state guidelines. The local tax rate is then applied to this assessed value to calculate the property tax bill. Several factors influence the final tax bill, including the property's location, any applicable exemptions, and the specific tax rate set by local authorities. Homeowners in Shelbina can expect their tax bills to vary significantly. For example, the 25th percentile tax bill is $529, while those in the 75th percentile pay around $1,503. At the 90th percentile, the tax bill can reach up to $2,258. Comparatively, the national median property tax rate is 0.99%, highlighting how local rates and property values can significantly impact what homeowners owe.
Average Shelbina Tax Bill
$942
Average Monroe County Tax Bill
$442
Average Missouri Tax Bill
$1,606
Average United States Tax Bill
$2,690
Property Tax Bills Across Shelbina, Missouri
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 63468 | $179 | $529 | $942 | $1,503 | $2,258 |
Source: Ownwell