Purdy, Missouri Property Taxes
The median property tax rate in Purdy, MO is 0.97%, 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 Purdy, the typical annual property tax bill is $900, well below the national median of $2,690. Property taxes in Purdy are calculated based on the tax assessed value, which often falls below the market value due to various exemptions like the primary residence and agricultural exemptions. Understanding Purdy'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 Purdy 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
Purdy, Missouri Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.97%
Estimate Property Tax Bill
$902
Ownwell’s Purdy Property Tax Bill Calculator is an essential tool for homeowners, real estate investors, or potential buyers to estimate their annual property taxes in Purdy with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Purdy to provide an estimate of 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 Purdy, Missouri
Property taxes in Purdy, Missouri, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Purdy is 0.62%, which is lower than both the Missouri state median of 0.93% and the U.S. national median of 0.99%. Local government entities within Purdy set these rates annually, and they can vary significantly across different neighborhoods. Each year, Purdy 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 Purdy's effective property tax rate to other counties in Missouri and the national median. For comparison, 65734 has the highest median property tax rate of 0.62%, while 65734 also has the lowest median tax rate of 0.62%. Understanding how these cities compare with Purdy provides valuable insights into the varying tax landscape across Newton County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Purdy Tax Rate
0.97%
Average Newton County Tax Rate
1.09%
Average Missouri Tax Rate
1.20%
Average United States Tax Rate
0.99%
Property Tax Rates Across Purdy, Missouri
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 65734 | 0.96% | 0.97% | 0.97% | 0.97% | 0.97% |
Source: Ownwell
Property Tax Assessment Values Across Purdy, Missouri
In Purdy, 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 Newton 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. Assessment notices in Purdy 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 Purdy helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. In Purdy, the median home price is $92,950, with tax bills ranging from $820 at the 25th percentile to $1,027 at the 90th percentile. The highest and lowest median tax bills are both $900 in zip code 65734.
Average Purdy Assessed Value
$92,950
Average Newton County Assessed Value
$71,800
Average Missouri Assessed Value
$129,505
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Purdy, Missouri
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 65734 | $79,390 | $84,475 | $92,950 | $101,425 | $106,510 |
Source: Ownwell
Property Tax Bills Across Purdy, Missouri
In Purdy, located in Newton County, MO, property tax bills are calculated based on the assessed value of the property, which is a percentage of its market value. The median home price in Purdy is $92,950, and the property tax rate is applied to this assessed value to determine the tax bill. Factors such as property improvements, location, and market conditions can influence the assessed value. For homeowners in Purdy, the 25th percentile tax bill stands at $820, while the 75th percentile reaches $979, with the 90th percentile hitting $1027. These figures reflect how property taxes can vary even within the same city. Compared to the national median property tax rate of 0.99%, Purdy's tax rates are designed to be manageable for homeowners, providing essential funding for local services like schools, infrastructure, and emergency services. Understanding these factors can help homeowners anticipate their financial obligations and plan accordingly.
Average Purdy Tax Bill
$900
Average Newton County Tax Bill
$791
Average Missouri Tax Bill
$1,606
Average United States Tax Bill
$2,690
Property Tax Bills Across Purdy, Missouri
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 65734 | $773 | $820 | $900 | $979 | $1,027 |
Source: Ownwell