Louisburg, Missouri Property Taxes
The median property tax rate in Louisburg, MO is 0.95%, slightly below the national median of 0.99% and significantly lower than Missouri's state median of 1.20%. With a median home value of $29,684 in Louisburg, the typical annual property tax bill amounts to $327, which is considerably less than the national median of $2,690. Property taxes in Louisburg are calculated based on the assessed value, which often falls below the market value due to exemptions like those for primary residences and agricultural properties. Understanding Louisburg'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 Louisburg or another part of Polk County, gaining insight into the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Louisburg, 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 LOUISBURG Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in LOUISBURG with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in LOUISBURG 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 Louisburg, Missouri
Property taxes in Louisburg, Missouri, are crucial in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Louisburg is 0.95%, slightly below the U.S. national median of 0.99%. Local government entities within Louisburg set these rates annually, and they can vary significantly across different neighborhoods. Each year, Louisburg 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 Louisburg's effective property tax rate to other counties in Missouri and the national median. For comparison, the 65685 zip code has both the highest and lowest median property tax rate of 0.95%. Understanding how these cities compare with Louisburg provides valuable insights into the varying tax landscape across Polk County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Louisburg Tax Rate
0.95%
Average Polk County Tax Rate
0.91%
Average Missouri Tax Rate
1.20%
Average United States Tax Rate
0.99%
Property Tax Rates Across Louisburg, Missouri
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 65685 | 0.74% | 0.89% | 0.95% | 1.00% | 1.00% |
Source: Ownwell
Property Tax Assessment Values Across Louisburg, Missouri
In Louisburg, 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 Polk 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 Louisburg, 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 Louisburg is $29,684, with tax bills ranging from the 25th percentile at $193 to the 90th percentile at $829. Interestingly, the zip code 65685 has both the highest and lowest median tax bill at $327. 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 Louisburg helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Louisburg Assessed Value
$29,684
Average Polk County Assessed Value
$49,465
Average Missouri Assessed Value
$129,505
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Louisburg, Missouri
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 65685 | $14,001 | $19,644 | $29,684 | $65,029 | $123,505 |
Source: Ownwell
Property Tax Bills Across Louisburg, Missouri
In Louisburg, property tax bills are calculated based on the assessed value of a home. The assessed value is determined by the local tax assessor and is a percentage of the property's market value. For instance, a median home price in Louisburg is $29,684. The tax rate in Polk County is applied to this assessed value to calculate the annual tax bill. Factors such as property improvements, neighborhood changes, and market conditions can influence the assessed value, thus affecting the tax bill. Homeowners in Louisburg can expect to pay varying amounts depending on their property’s assessed value. For example, the 25th percentile tax bill is $193, while the 75th percentile tax bill is $618, and the 90th percentile tax bill reaches $829. These figures indicate a range of property tax bills that can impact homeowners differently. Compared to the national median property tax rate of 0.99%, Louisburg's rates offer a unique perspective on local property tax burdens. Understanding these factors helps homeowners anticipate their annual tax obligations and plan accordingly.
Average Louisburg Tax Bill
$327
Average Polk County Tax Bill
$421
Average Missouri Tax Bill
$1,606
Average United States Tax Bill
$2,690
Property Tax Bills Across Louisburg, Missouri
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 65685 | $150 | $193 | $327 | $618 | $829 |
Source: Ownwell