Lucerne, Missouri Property Taxes
The median property tax rate in Lucerne, MO is 1.13%, slightly higher than the national median of 0.99% but lower than the Missouri state median of 1.20%. With the median home value in Lucerne at $38,860, the typical annual property tax bill amounts to $443, which is significantly below the national median of $2,690. Property taxes in Lucerne are calculated based on the tax assessed value, which often falls below the market value due to various exemptions, such as primary residence and agricultural exemptions. Understanding Lucerne'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 Lucerne 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
Lucerne, Missouri Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.13%
Estimate Property Tax Bill
$439
Ownwell’s Lucerne Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Lucerne with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Lucerne 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 Lucerne, Missouri
Property taxes in Lucerne, Missouri, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Lucerne is 0.85%, which is lower than both the Missouri state median of 0.91% and the U.S. national median of 0.99%. Local government entities within Lucerne set these rates annually, and they can vary significantly across different neighborhoods. Each year, Lucerne 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 Lucerne's effective property tax rate to other counties in Missouri and the national median. For comparison, the 64655 zip code has the highest median property tax rate of 0.85%, while the same zip code also has the lowest median tax rate of 0.85%. Understanding how these cities compare with Lucerne provides valuable insights into the varying tax landscape across Putnam County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Lucerne Tax Rate
1.13%
Average Putnam County Tax Rate
1.20%
Average Missouri Tax Rate
1.20%
Average United States Tax Rate
0.99%
Property Tax Rates Across Lucerne, Missouri
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 64655 | 0.82% | 0.87% | 1.13% | 1.38% | 1.40% |
Source: Ownwell
Property Tax Assessment Values Across Lucerne, Missouri
Understanding the difference between "market value" and "assessed value" is crucial for comprehending property taxes in Lucerne, Missouri. 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 Putnam County 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 Lucerne, 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. For example, in Lucerne, the highest median tax bill is $443 in zip code 64655, while the lowest median tax bill is also $443 in the same zip code. Being aware of these valuation processes helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Lucerne Assessed Value
$38,860
Average Putnam County Assessed Value
$54,500
Average Missouri Assessed Value
$129,505
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Lucerne, Missouri
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 64655 | $5,834 | $18,480 | $38,860 | $91,570 | $167,916 |
Source: Ownwell
Property Tax Bills Across Lucerne, Missouri
In Lucerne, located in Putnam County, MO, property tax bills are calculated based on the assessed value of a home, which is a percentage of its market value. The assessed value is then multiplied by the local tax rate to determine the annual property tax bill. For instance, with a median home price of $38,860, homeowners can expect varying tax bills. At the 25th percentile, the tax bill is around $182, while at the 75th percentile, it can reach up to $1,030. The 90th percentile sees tax bills as high as $1,994. These tax bills directly impact homeowners by influencing their annual financial planning and the affordability of homeownership in the region. Compared to the national median property tax rate of 0.99%, the rates in Lucerne are relatively modest, yet they still play a crucial role in funding local services such as schools, public safety, and infrastructure. Understanding these factors helps homeowners anticipate their financial obligations and the benefits that come with paying property taxes.
Average Lucerne Tax Bill
$443
Average Putnam County Tax Bill
$636
Average Missouri Tax Bill
$1,606
Average United States Tax Bill
$2,690
Property Tax Bills Across Lucerne, Missouri
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 64655 | $91 | $182 | $443 | $1,030 | $1,994 |
Source: Ownwell