Lompoc, Missouri Property Taxes
The median property tax rate in Lompoc, MO is 0.85%, which is lower than both the national median of 0.99% and the Missouri state median of 1.20%. With a median home value of $18,500 in Lompoc, the typical annual property tax bill is $158, significantly below the national median of $2,690. Property taxes in Lompoc 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 Lompoc'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 Lompoc 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
Lompoc, Missouri Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.85%
Estimate Property Tax Bill
$157
Ownwell’s Lompoc Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Lompoc with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Lompoc 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 Lompoc, Missouri
Property taxes in Lompoc, Missouri, are essential in funding critical local services such as public schools, road maintenance, and emergency services. The median tax rate in Lompoc is 0.85%, which is lower than the U.S. national median of 0.99%. Local government entities within Lompoc set these rates annually, and they can vary significantly across different neighborhoods. Each year, Lompoc 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 Lompoc's effective property tax rate to other counties in Missouri and the national median. For comparison, the zip code 93436 has both the highest and lowest median property tax rate of 0.85%. Understanding how these cities compare with Lompoc 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 Lompoc Tax Rate
0.85%
Average Morgan County Tax Rate
0.87%
Average Missouri Tax Rate
1.20%
Average United States Tax Rate
0.99%
Property Tax Rates Across Lompoc, Missouri
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 93436 | 0.85% | 0.85% | 0.85% | 0.85% | 0.85% |
Source: Ownwell
Property Tax Assessment Values Across Lompoc, Missouri
In Lompoc, 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 Lompoc, 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 Lompoc helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The highest and lowest median tax bills are both $158.00, found in the zip code 93436.
Average Lompoc Assessed Value
$18,500
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 Lompoc, Missouri
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 93436 | $18,500 | $18,500 | $18,500 | $18,500 | $18,500 |
Source: Ownwell
Property Tax Bills Across Lompoc, Missouri
Property tax bills in Lompoc, located in Morgan County, Missouri, are determined by a combination of the assessed value of the property and the local tax rate. The assessed value is a percentage of the property's market value, which is periodically evaluated by the county assessor. In Lompoc, the median home price is notably low at $18,500. Given this valuation, the tax rate is applied to calculate the annual tax bill. The tax bill calculations in Lompoc show a consistent figure across different percentiles, with the 25th, 75th, and 90th percentiles all reflecting an annual tax bill of $158. This uniformity suggests a stable tax rate and assessment practices within the city. Compared to the national median property tax rate of 0.99%, homeowners in Lompoc benefit from relatively low property taxes. This can be a significant advantage for homeowners, making it more affordable to maintain property ownership and potentially attracting new residents seeking lower living costs.
Average Lompoc Tax Bill
$158
Average Morgan County Tax Bill
$420
Average Missouri Tax Bill
$1,606
Average United States Tax Bill
$2,690
Property Tax Bills Across Lompoc, Missouri
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 93436 | $158 | $158 | $158 | $158 | $158 |
Source: Ownwell