Lone Jack, Missouri Property Taxes
The median property tax rate in Lone Jack, MO is 1.44%, considerably higher than both the national median of 0.99% and the Missouri state median of 1.20%. With the median home value in Lone Jack, the typical annual property tax bill reaches $110, which is significantly lower than the national median of $2,690. Property taxes in Lone Jack are calculated based on the tax assessed value, which typically falls below the market value due to various exemptions like the primary residence and agricultural exemptions. Understanding Lone Jack'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 Lone Jack 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
Lone Jack, 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 Lone Jack Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Lone Jack with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Lone Jack 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 Lone Jack, Missouri
Property taxes in Lone Jack, Missouri, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Lone Jack is 1.44%, significantly higher than both the Missouri state median and the U.S. national median of 0.99%. Local government entities within Lone Jack set these rates annually, and they can vary significantly across different neighborhoods. Each year, Lone Jack 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 Lone Jack's effective property tax rate to other areas in Missouri and the national median. For comparison, the zip code 64070 has the highest median property tax rate of 1.44%, while the same zip code also has the lowest median tax rate of 1.44%. Understanding how these cities compare with Lone Jack 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 Lone Jack Tax Rate
1.44%
Average Morgan County Tax Rate
0.87%
Average Missouri Tax Rate
1.20%
Average United States Tax Rate
0.99%
Property Tax Rates Across Lone Jack, Missouri
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 64070 | 1.09% | 1.22% | 1.44% | 1.60% | 1.70% |
Source: Ownwell
Property Tax Assessment Values Across Lone Jack, Missouri
In Lone Jack, 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 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 Lone Jack, 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. For instance, the highest median tax bill is found in the 64070 zip code, amounting to $110. 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 Lone Jack helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Lone Jack Assessed Value
$11,000
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 Lone Jack, Missouri
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 64070 | $4,520 | $6,950 | $11,000 | $15,500 | $18,200 |
Source: Ownwell
Property Tax Bills Across Lone Jack, Missouri
In Lone Jack, located in Morgan County, MO, property tax bills are calculated based on the assessed value of a property, which is a percentage of its market value. The local tax rate is then applied to this assessed value to determine the annual tax bill. Factors such as property size, location, and improvements can influence the assessed value. For example, a median home price of $11,000 in Lone Jack results in varying tax bills: the 25th percentile tax bill is $81, while the 75th percentile tax bill is $199, and the 90th percentile tax bill reaches $253. Comparatively, the national median property tax rate is 0.99%, and Lone Jack's tax bills reflect a localized rate that may differ. This system ensures that homeowners contribute fairly to community services like schools and infrastructure. Understanding these factors helps homeowners anticipate their financial responsibilities and plan accordingly.
Average Lone Jack Tax Bill
$110
Average Morgan County Tax Bill
$420
Average Missouri Tax Bill
$1,606
Average United States Tax Bill
$2,690
Property Tax Bills Across Lone Jack, Missouri
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 64070 | $63 | $81 | $110 | $199 | $253 |
Source: Ownwell