Smithton, Missouri Property Taxes
The median property tax rate in Smithton, MO is 0.94%, 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 $89,225, the typical annual property tax bill in Smithton is $869, well below the national median of $2,690. Property taxes in Smithton are calculated based on the tax assessed value, which is often lower than the market value due to exemptions such as those for primary residences and agricultural properties. 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 Pettis County, 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
0.94%
Estimate Property Tax Bill
$839
Ownwell’s Smithton Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate 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 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 Smithton, Missouri
Property taxes in Smithton, Missouri, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Smithton is 0.94%, which is slightly below 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. For comparison, the zip code 65350 has both the highest and lowest median property tax rate of 0.94%, matching Smithton's rate. Understanding how these cities compare with Smithton provides valuable insights into the varying tax landscape across Pettis County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Smithton Tax Rate
0.94%
Average Pettis County Tax Rate
1.16%
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 | 0.82% | 0.89% | 0.94% | 1.08% | 1.09% |
Source: Ownwell
Property Tax Assessment Values Across Smithton, Missouri
Understanding the difference between "market value" and "assessed value" is crucial for comprehending property taxes in Smithton, Missouri. The market value represents 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 Pettis 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 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 zip code 65350 has the highest and lowest median tax bill at $869.
Average Smithton Assessed Value
$89,225
Average Pettis County Assessed Value
$83,765
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 | $38,420 | $60,045 | $89,225 | $149,428 | $223,045 |
Source: Ownwell
Property Tax Bills Across Smithton, Missouri
In Smithton, located in Pettis County, MO, property tax bills are calculated based on the assessed value of a home. This assessed value is determined by the county assessor and represents a percentage of the property's market value. Homeowners in Smithton face property tax bills that vary widely, with the 25th percentile tax bill at $584 and the 75th percentile reaching $1,414. For those in the 90th percentile, the tax bill can go up to $2,038. The median home price in Smithton stands at $89,225, and the property tax rate is applied to this assessed value to determine the annual tax bill. Compared to the national median property tax rate of 0.99%, Smithton's tax bills reflect a range that can significantly impact homeowners' finances. Factors such as property improvements, neighborhood developments, and changes in market conditions can influence the assessed value, thereby affecting the tax bill. Understanding these factors is crucial for homeowners to anticipate their financial obligations accurately.
Average Smithton Tax Bill
$869
Average Pettis County Tax Bill
$930
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 | $367 | $584 | $869 | $1,414 | $2,038 |
Source: Ownwell