Spring Valley, Missouri Property Taxes
The median property tax rate in Spring Valley, MO is 0.94%, slightly below the national median of 0.99% and significantly lower than the Missouri state median of 1.20%. With the median home value in Spring Valley, the typical annual property tax bill is $68, far below the national median of $2,690. Property taxes in Spring Valley are calculated based on the assessed value, which often falls below the market value due to various exemptions, such as those for primary residences and agricultural properties. Understanding Spring Valley'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 Spring Valley 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
Spring Valley, Missouri Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.94%
Estimate Property Tax Bill
$68
Ownwell’s SPRING VALLEY Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in SPRING VALLEY with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in SPRING VALLEY 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 Spring Valley, Missouri
Property taxes in Spring Valley, Missouri, are crucial for funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Spring Valley is 0.94%, slightly below the U.S. national median of 0.99%. Local government entities within Spring Valley set these rates annually, and they can vary significantly across different neighborhoods. Each year, Spring Valley 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 Spring Valley's effective property tax rate to other regions and the national median. For comparison, the 91977 zip code has the highest median property tax rate of 0.94%, while the same zip code also has the lowest median tax rate of 0.94%. Understanding how these areas compare with Spring Valley 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 Spring Valley Tax Rate
0.94%
Average Morgan County Tax Rate
0.87%
Average Missouri Tax Rate
1.20%
Average United States Tax Rate
0.99%
Property Tax Rates Across Spring Valley, Missouri
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 91977 | 0.94% | 0.94% | 0.94% | 0.94% | 0.94% |
Source: Ownwell
Property Tax Assessment Values Across Spring Valley, Missouri
In Spring Valley, 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's Office 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 Spring Valley, 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 Spring Valley helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The median home price in Spring Valley is $7,200, with tax bills typically around $68, regardless of the percentile.
Average Spring Valley Assessed Value
$7,200
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 Spring Valley, Missouri
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 91977 | $7,200 | $7,200 | $7,200 | $7,200 | $7,200 |
Source: Ownwell
Property Tax Bills Across Spring Valley, Missouri
In Spring Valley, located in Morgan County, MO, property tax bills are calculated based on the assessed value of a home, which is a percentage of the property's market value. The local tax rate is then applied to this assessed value to determine the tax bill. For homeowners in Spring Valley, the median home price is $7,200, which is significantly lower than the national median. Consequently, the property tax bills in this area are relatively modest. Factors that influence the tax bill include the market value of the property and the local tax rate. In Spring Valley, the tax bills at the 25th, 75th, and 90th percentiles are all $68, indicating a consistent tax rate across different property values. This consistency helps homeowners predict their tax liabilities more accurately. Compared to the national median property tax rate of 0.99%, Spring Valley's rates offer a more affordable option for residents. This lower tax burden can significantly impact homeowners, making property ownership more accessible and less financially straining.
Average Spring Valley Tax Bill
$68
Average Morgan County Tax Bill
$420
Average Missouri Tax Bill
$1,606
Average United States Tax Bill
$2,690
Property Tax Bills Across Spring Valley, Missouri
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 91977 | $68 | $68 | $68 | $68 | $68 |
Source: Ownwell