Theodosia, Missouri Property Taxes
The median property tax rate in Theodosia, MO is 0.81%, which is lower than both the national median of 0.99% and the Missouri state median of 1.20%. With a median home value of $72,800 in Theodosia, the typical annual property tax bill is $604, significantly less than the national median of $2,690. Property taxes in Theodosia are calculated based on the tax assessed value, which often falls below the market value due to various exemptions, such as those for primary residences and agricultural properties. Understanding Theodosia's property tax system, exploring available exemptions, and identifying opportunities for reductions can lead to considerable annual savings. Whether you're in the heart of Theodosia or elsewhere in Ozark County, mastering the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Theodosia, Missouri Property Tax Bill Calculator
$100,000
$2,500,000
$5,000,000
Average Tax Rate
1.2%
Estimate Property Tax Bill
$2,400
Ownwell’s Theodosia Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Theodosia with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Theodosia 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 Theodosia, Missouri
Property taxes in Theodosia, Missouri, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Theodosia is 0.81%, which is lower than the U.S. national median of 0.99%. Local government entities within Theodosia set these rates annually, and they can vary significantly across different neighborhoods. Each year, Theodosia 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 Theodosia's effective property tax rate to other areas and the national median. For comparison, the zip code 65761 has the highest median property tax rate of 0.81%, while the same zip code also has the lowest median tax rate of 0.81%. Understanding how these areas compare with Theodosia provides valuable insights into the varying tax landscape across Ozark County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Theodosia Tax Rate
0.81%
Average Ozark County Tax Rate
0.74%
Average Missouri Tax Rate
1.20%
Average United States Tax Rate
0.99%
Property Tax Rates Across Theodosia, Missouri
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 65761 | 0.74% | 0.80% | 0.81% | 0.87% | 0.87% |
Source: Ownwell
Property Tax Assessment Values Across Theodosia, Missouri
In Theodosia, 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 local 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 Theodosia, 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. The median home price in Theodosia is $72,800, with tax bills ranging from $335 at the 25th percentile to $1,355 at the 90th percentile. The zip code 65761 has the highest and lowest median tax bill at $604. 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 Theodosia helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Theodosia Assessed Value
$72,800
Average Ozark County Assessed Value
$64,800
Average Missouri Assessed Value
$129,505
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Theodosia, Missouri
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 65761 | $20,080 | $41,650 | $72,800 | $107,750 | $167,340 |
Source: Ownwell
Property Tax Bills Across Theodosia, Missouri
Property tax bills in Theodosia, located in Ozark County, Missouri, are calculated based on the assessed value of a property and the local tax rate. The assessed value is typically a percentage of the property's market value, which for Theodosia, has a median home price of $72,800. The tax rate is applied to this assessed value to determine the annual property tax bill. Several factors influence the tax bill, including the property's location, its assessed value, and applicable exemptions. In Theodosia, the 25th percentile tax bill is $335, while the 75th percentile tax bill is $877. For those at the 90th percentile, the tax bill can rise to $1,355. The highest and lowest median tax bills in the region are both $604, indicating a consistent tax rate across different properties. Compared to the national median property tax rate of 0.99%, Theodosia's property taxes may offer some relief to homeowners. Understanding these factors can help homeowners better anticipate their annual property tax obligations and budget accordingly.
Average Theodosia Tax Bill
$604
Average Ozark County Tax Bill
$481
Average Missouri Tax Bill
$1,606
Average United States Tax Bill
$2,690
Property Tax Bills Across Theodosia, Missouri
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 65761 | $154 | $335 | $604 | $877 | $1,355 |
Source: Ownwell