Oxly, Missouri Property Taxes
The median property tax rate in Oxly, MO is 0.81%, which is lower than both the national median of 0.99% and the Missouri state median of 1.20%. With the median home value in Oxly at $44,900, the typical annual property tax bill is $371, significantly below the national median of $2,690. Property taxes in Oxly are calculated based on the tax assessed value, which generally falls below the market value due to various exemptions like the primary residence and agricultural exemptions. Understanding Oxly'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 Oxly 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
Oxly, Missouri Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.81%
Estimate Property Tax Bill
$364
Ownwell’s Oxly Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Oxly with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Oxly 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 Oxly, Missouri
Property taxes in Oxly, Missouri, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Oxly is 0.81%, which is below the U.S. national median of 0.99%. Local government entities within Oxly set these rates annually, and they can vary significantly across different neighborhoods. Each year, Oxly 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 Oxly's effective property tax rate to other areas in Ripley County and the national median. For comparison, the zip code 63955 has both the highest and lowest median property tax rate in the county, standing at 0.81%. Understanding how these areas compare with Oxly provides valuable insights into the varying tax landscape across Ripley County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Oxly Tax Rate
0.81%
Average Ripley County Tax Rate
0.74%
Average Missouri Tax Rate
1.20%
Average United States Tax Rate
0.99%
Property Tax Rates Across Oxly, Missouri
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 63955 | 0.74% | 0.79% | 0.81% | 0.83% | 0.83% |
Source: Ownwell
Property Tax Assessment Values Across Oxly, Missouri
Understanding the difference between "market value" and "assessed value" is crucial for comprehending property taxes in Oxly, 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 Ripley 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 Oxly, 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 Oxly helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The highest median tax bill is $371 in the 63955 zip code, while the lowest median tax bill is also $371 in the same zip code.
Average Oxly Assessed Value
$44,900
Average Ripley County Assessed Value
$32,050
Average Missouri Assessed Value
$129,505
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Oxly, Missouri
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 63955 | $8,440 | $16,025 | $44,900 | $87,275 | $138,200 |
Source: Ownwell
Property Tax Bills Across Oxly, Missouri
In Oxly, located in Ripley County, MO, property tax bills are calculated based on the assessed value of a home, which is a percentage of its market value. For instance, with a median home price of $44,900, the assessed value is determined, and then the local tax rate is applied. The tax rate in Oxly reflects the county's needs for public services such as schools and infrastructure. Homeowners in Oxly can expect a range of property tax bills. The 25th percentile tax bill is around $119, while the 75th percentile reaches up to $688. For those at the higher end, the 90th percentile tax bill can be as much as $1,217. These figures indicate the variability in tax obligations based on property values and specific local levies. The property tax rate in Oxly is relatively low compared to the national median of 0.99%. This lower rate can be beneficial for homeowners, making property ownership more affordable and potentially increasing the attractiveness of living in this region.
Average Oxly Tax Bill
$371
Average Ripley County Tax Bill
$258
Average Missouri Tax Bill
$1,606
Average United States Tax Bill
$2,690
Property Tax Bills Across Oxly, Missouri
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 63955 | $69 | $119 | $371 | $688 | $1,217 |
Source: Ownwell