Arrow Rock, Missouri Property Taxes
The median property tax rate in Arrow Rock, MO is 1.23%, slightly higher than both the national median of 0.99% and the Missouri state median of 1.20%. With the median home value in Arrow Rock at $115,174, the typical annual property tax bill reaches $1,435, which is still below the national median of $2,690. Property taxes in Arrow Rock are calculated based on the tax assessed value, which often falls below the market value due to exemptions like the primary residence and agricultural exemptions. Understanding Arrow Rock'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 Arrow Rock 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
Arrow Rock, Missouri Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.23%
Estimate Property Tax Bill
$1,417
Ownwell’s Arrow Rock Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Arrow Rock with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Arrow Rock 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 Arrow Rock, Missouri
Property taxes in Arrow Rock, Missouri, are essential in funding crucial local services such as public schools, road maintenance, and emergency services. The median tax rate in Arrow Rock is 1.23%, higher than both the Missouri state median and the U.S. national median of 0.99%. Local government entities within Arrow Rock set these rates annually, and they can vary significantly across different neighborhoods. Each year, Arrow Rock 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 Arrow Rock's effective property tax rate to other counties in Missouri and the national median. For comparison, the 65320 zip code has both the highest and lowest median property tax rate of 1.23%. Understanding how these areas compare with Arrow Rock provides valuable insights into the varying tax landscape across Saline County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Arrow Rock Tax Rate
1.23%
Average Saline County Tax Rate
1.17%
Average Missouri Tax Rate
1.20%
Average United States Tax Rate
0.99%
Property Tax Rates Across Arrow Rock, Missouri
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 65320 | 1.21% | 1.23% | 1.23% | 1.23% | 1.23% |
Source: Ownwell
Property Tax Assessment Values Across Arrow Rock, Missouri
In Arrow Rock, 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 Saline 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 Arrow Rock, 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. The median home price in Arrow Rock is $115,174, with tax bills ranging from $965 at the 25th percentile to $2,822 at the 90th percentile. Being aware of these valuation processes helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Arrow Rock Assessed Value
$115,174
Average Saline County Assessed Value
$78,621
Average Missouri Assessed Value
$129,505
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Arrow Rock, Missouri
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 65320 | $47,974 | $65,333 | $115,174 | $165,899 | $224,058 |
Source: Ownwell
Property Tax Bills Across Arrow Rock, Missouri
In Arrow Rock, located in Saline County, MO, property tax bills are calculated based on the assessed value of a homeowner's property. The assessed value is determined by the local tax assessor and represents a percentage of the property's market value. For homeowners in Arrow Rock, the median home price is $115,174. Property tax rates in this area can vary, but the median tax bill is $1,435, which aligns with the national median property tax rate of 0.99%. Several factors influence the final tax bill, including the property's assessed value, local tax rates, and any applicable exemptions or deductions. Homeowners in the 25th percentile can expect a tax bill around $965, while those in the 75th percentile might see bills closer to $2,088. The top 10% of property tax bills can reach up to $2,822. These taxes fund essential public services such as schools, roads, and emergency services, impacting the overall quality of life and community infrastructure.
Average Arrow Rock Tax Bill
$1,435
Average Saline County Tax Bill
$974
Average Missouri Tax Bill
$1,606
Average United States Tax Bill
$2,690
Property Tax Bills Across Arrow Rock, Missouri
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 65320 | $657 | $965 | $1,435 | $2,088 | $2,822 |
Source: Ownwell