Oak Grove, Missouri Property Taxes
The median property tax rate in Oak Grove, MO is 0.93%, slightly lower than both the national median of 0.99% and Missouri's state median of 1.20%. With the median home value in Oak Grove at $10,900, the typical annual property tax bill is $114, significantly below the national median of $2,690. Property taxes in Oak Grove 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 Oak Grove's property tax system, exploring available exemptions, and identifying opportunities for reductions can result in substantial annual savings. Whether you're in the heart of Oak Grove 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
Oak Grove, Missouri Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.93%
Estimate Property Tax Bill
$101
Ownwell’s Oak Grove Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Oak Grove with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Oak Grove 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 Oak Grove, Missouri
Property taxes in Oak Grove, Missouri, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Oak Grove is 0.93%, slightly below the U.S. national median of 0.99%. Local government entities within Oak Grove set these rates annually, and they can vary significantly across different neighborhoods. Each year, Oak Grove 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 Oak Grove's effective property tax rate to other counties in Missouri and the national median. For comparison, the 64075 zip code has the highest median property tax rate of 0.93%, while the same zip code also has the lowest median tax rate of 0.93%. Understanding how these cities compare with Oak Grove 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 Oak Grove Tax Rate
0.93%
Average Morgan County Tax Rate
0.87%
Average Missouri Tax Rate
1.20%
Average United States Tax Rate
0.99%
Property Tax Rates Across Oak Grove, Missouri
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 64075 | 0.84% | 0.85% | 0.93% | 1.37% | 2.71% |
Source: Ownwell
Property Tax Assessment Values Across Oak Grove, Missouri
In Oak Grove, 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 Oak Grove, 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 Oak Grove helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The highest median tax bill in the area is $114.00 in the 64075 zip code, which is also the lowest median tax bill, indicating a relatively uniform tax landscape.
Average Oak Grove Assessed Value
$10,900
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 Oak Grove, Missouri
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 64075 | $1,530 | $2,625 | $10,900 | $59,375 | $107,600 |
Source: Ownwell
Property Tax Bills Across Oak Grove, Missouri
In Oak Grove, Morgan County, MO, property tax bills are calculated based on the assessed value of a home, which is a percentage of its market value. The city's median home price is $10,900. Local tax authorities determine the assessed value, which is then multiplied by the local tax rate to calculate the tax bill. Factors such as the property’s location, age, and condition can influence its assessed value. Homeowners in Oak Grove experience a range of property tax bills. The 25th percentile tax bill is $34, while the 75th percentile reaches $525, and the 90th percentile can go up to $1,002. The highest and lowest median tax bills in the area are both $114, indicating a relatively narrow range in median tax obligations. Compared to the national median property tax rate of 0.99%, Oak Grove's tax rates can significantly impact homeowners, especially those with properties at the higher end of the assessed value spectrum. Understanding these factors helps homeowners anticipate their annual property tax expenses.
Average Oak Grove Tax Bill
$114
Average Morgan County Tax Bill
$420
Average Missouri Tax Bill
$1,606
Average United States Tax Bill
$2,690
Property Tax Bills Across Oak Grove, Missouri
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 64075 | $31 | $34 | $114 | $525 | $1,002 |
Source: Ownwell