Stover, Missouri Property Taxes
The median property tax rate in Stover, MO is 0.93%, which is slightly below the national median of 0.99% and significantly lower than the Missouri state median of 1.20%. With a median home value of $50,300, the typical annual property tax bill in Stover is around $448, far below the national median of $2,690. Property taxes in Stover are calculated based on the tax assessed value, often lower than the market value due to various exemptions such as primary residence and agricultural exemptions. Understanding Stover'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 Stover or another part of Morgan County, familiarizing yourself with the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Stover, Missouri Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.93%
Estimate Property Tax Bill
$468
Ownwell’s Stover Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Stover with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Stover 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 Stover, Missouri
Property taxes in Stover, Missouri, are essential for funding critical local services such as public schools, road maintenance, and emergency services. The median tax rate in Stover is 0.93%, which is slightly lower than the U.S. national median of 0.99%. Local government entities within Stover set these rates annually, and they can vary significantly across different neighborhoods. Each year, Stover 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 Stover's effective property tax rate to other areas in Morgan County and the national median. For comparison, the 65078 ZIP code has both the highest and lowest median property tax rate in Morgan County, at 0.93%. Understanding how these areas compare with Stover 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 Stover 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 Stover, Missouri
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 65078 | 0.75% | 0.83% | 0.93% | 0.97% | 1.33% |
Source: Ownwell
Property Tax Assessment Values Across Stover, Missouri
In Stover, 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 Stover, 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 Stover helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The highest and lowest median tax bills in the area are both $448.00, found in zip code 65078.
Average Stover Assessed Value
$50,300
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 Stover, Missouri
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 65078 | $4,400 | $15,600 | $50,300 | $103,700 | $173,200 |
Source: Ownwell
Property Tax Bills Across Stover, Missouri
In Stover, located in Morgan County, MO, property tax bills are calculated based on the assessed value of a home, which is a percentage of its market value. For a home with a median market price of $50,300, the assessed value typically forms the basis for the tax bill. The tax rate is then applied to this assessed value to determine the final tax bill. Factors such as the home's location within specific zip codes, local tax levies, and any applicable exemptions play a crucial role in the calculation. For homeowners in Stover, property tax bills can vary significantly. The 25th percentile tax bill is around $147, while the 75th percentile tax bill reaches $899. At the higher end, the 90th percentile tax bill can be as much as $1,504. The median tax bill in the area, pegged at $448, aligns with the highest and lowest median tax bills in the 65078 zip code. This variability in tax bills affects homeowners by influencing their annual housing costs and, consequently, their overall financial planning.
Average Stover Tax Bill
$448
Average Morgan County Tax Bill
$420
Average Missouri Tax Bill
$1,606
Average United States Tax Bill
$2,690
Property Tax Bills Across Stover, Missouri
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 65078 | $57 | $147 | $448 | $899 | $1,504 |
Source: Ownwell