Glasford, Missouri Property Taxes
The median property tax rate in Glasford, MO is 0.83%, which is notably lower than both the national median of 0.99% and the Missouri state median of 1.20%. With a median home value of $12,100 in Glasford, the typical annual property tax bill is around $100, significantly below the national median of $2,690. Property taxes in Glasford are calculated based on the tax assessed value, which often falls below the market value due to various exemptions such as primary residence and agricultural exemptions. Understanding Glasford's property tax system, exploring available exemptions, and identifying opportunities for reductions can lead to substantial annual savings. Whether you're in the heart of Glasford 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
Glasford, Missouri Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.83%
Estimate Property Tax Bill
$100
Ownwell’s Glasford Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Glasford with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Glasford 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 Glasford, Missouri
Property taxes in Glasford, Missouri, are vital in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Glasford is 0.83%, slightly lower than the U.S. national median of 0.99%. Local government entities within Glasford set these rates annually, and they can vary significantly across different neighborhoods. Each year, Glasford 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 Glasford's effective property tax rate to other counties in Missouri and the national median. For comparison, the 61533 zip code has the highest median property tax rate of 0.83%, while the same zip code also has the lowest median tax rate of 0.83%. Understanding how these cities compare with Glasford provides valuable insights into the varying tax landscape across Morgan County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Glasford Tax Rate
0.83%
Average Morgan County Tax Rate
0.87%
Average Missouri Tax Rate
1.20%
Average United States Tax Rate
0.99%
Property Tax Rates Across Glasford, Missouri
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 61533 | 0.83% | 0.83% | 0.83% | 0.83% | 0.83% |
Source: Ownwell
Property Tax Assessment Values Across Glasford, Missouri
In Glasford, 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 Morgan 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 Glasford, 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 Glasford helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The median home price in Glasford is $12,100, with tax bills ranging from $100 at the 25th percentile to $100 at the 90th percentile.
Average Glasford Assessed Value
$12,100
Average Morgan County Assessed Value
$49,350
Average Missouri Assessed Value
$129,505
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Glasford, Missouri
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 61533 | $12,100 | $12,100 | $12,100 | $12,100 | $12,100 |
Source: Ownwell
Property Tax Bills Across Glasford, Missouri
In Glasford, Morgan County, MO, property tax bills are calculated based on the assessed value of a property, which is typically a percentage of its market value. The median home price in this area is $12,100, significantly lower than the national median. This lower home value directly impacts the property tax bills, making them more affordable for homeowners. For instance, the tax bill at the 25th, 75th, and 90th percentiles is consistently $100, reflecting the relatively low property tax burden in this region. Several factors contribute to the final tax bill, including the property's assessed value, local tax rates, and any applicable exemptions or deductions. These elements combine to determine how much each homeowner owes annually. Lower property tax rates in Glasford can make homeownership more accessible and financially manageable, especially compared to areas with higher tax rates. This affordability can be a significant advantage for residents, allowing them to allocate more of their income towards other expenses or savings.
Average Glasford Tax Bill
$100
Average Morgan County Tax Bill
$420
Average Missouri Tax Bill
$1,606
Average United States Tax Bill
$2,690
Property Tax Bills Across Glasford, Missouri
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 61533 | $100 | $100 | $100 | $100 | $100 |
Source: Ownwell