Smithton, Missouri Property Taxes
The median property tax rate in Smithton, MO is 0.80%, 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 $108,900 in Smithton, the typical annual property tax bill amounts to $837, significantly less than the national median of $2,690. Property taxes in Smithton are determined based on the tax assessed value, generally lower than the market value due to various exemptions like the primary residence and agricultural exemptions. Understanding Smithton'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 Smithton or another part of the city, grasping the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Smithton, Missouri Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.8%
Estimate Property Tax Bill
$871
Ownwell’s Smithton Property Tax Bill Calculator assists homeowners, real estate investors, and potential buyers in estimating their annual property taxes in Smithton with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Smithton to estimate your property tax bill. This valuable tool helps you understand potential tax liabilities. For those interested in more granular trends, you can find detailed information at the neighborhood level by scrolling down. Your property’s assessed value is the figure assigned by Morgan County for property tax calculations, taking into account any applicable exemptions.
Property Tax Rates Across Smithton, Missouri
Property taxes in Smithton, Missouri, are essential in funding critical local services such as public schools, road maintenance, and emergency services. The median tax rate in Smithton is 0.80%, which is lower than the U.S. national median of 0.99%. Local government entities within Smithton set these rates annually, and they can vary significantly across different neighborhoods. Each year, Smithton 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 Smithton's effective property tax rate to other counties in Missouri and the national median. For comparison, the zip code 65350 has both the highest and lowest median property tax rate of 0.80%. Understanding how these areas compare with Smithton 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 Smithton Tax Rate
0.80%
Average Morgan County Tax Rate
0.87%
Average Missouri Tax Rate
1.20%
Average United States Tax Rate
0.99%
Property Tax Rates Across Smithton, Missouri
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 65350 | 0.70% | 0.74% | 0.80% | 0.90% | 0.90% |
Source: Ownwell
Property Tax Assessment Values Across Smithton, Missouri
In Smithton, 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 Smithton, 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 Smithton helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The highest median tax bill in Smithton is $837 in the 65350 zip code, while the lowest median tax bill is also $837, reflecting a consistent tax landscape across the area.
Average Smithton Assessed Value
$108,900
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 Smithton, Missouri
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 65350 | $13,550 | $54,675 | $108,900 | $142,075 | $234,950 |
Source: Ownwell
Property Tax Bills Across Smithton, Missouri
In Smithton, located in Morgan County, MO, property tax bills are calculated based on the assessed value of a homeowner's property. The assessed value is a percentage of the property's market value, which is determined by the county assessor. This assessed value is then multiplied by the local tax rate to determine the final tax bill. Factors such as property improvements, neighborhood changes, and market trends can influence the assessed value. For Smithton homeowners, the median home price is $108,900. The property tax bills in the area range significantly, with the 25th percentile at $438 and the 75th percentile reaching $1,081. For those at the 90th percentile, the tax bill can go up to $1,734. Comparatively, the highest median tax bill within the zip code 65350 is $837, which is below the national median property tax rate of 0.99%. Understanding these factors helps homeowners anticipate their tax obligations and manage their finances effectively.
Average Smithton Tax Bill
$837
Average Morgan County Tax Bill
$420
Average Missouri Tax Bill
$1,606
Average United States Tax Bill
$2,690
Property Tax Bills Across Smithton, Missouri
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 65350 | $120 | $438 | $837 | $1,081 | $1,734 |
Source: Ownwell