Gilliam, Missouri Property Taxes
The median property tax rate in Gilliam, MO is 1.22%, slightly above both the national median of 0.99% and Missouri's state median of 1.20%. With the median home value in Gilliam at $43,818, the typical annual property tax bill amounts to $545, which is significantly lower than the national median of $2,690. Property taxes in Gilliam are determined based on the assessed value, often lower than the market value due to exemptions like those for primary residences and agricultural properties. By understanding Gilliam's property tax system, exploring available exemptions, and identifying opportunities for reductions, homeowners and real estate investors can achieve substantial annual savings. Whether you're in the heart of Gilliam or another part of the city, gaining insight into the local property tax system is beneficial.
Last Updated June 14, 2024
Gilliam, Missouri Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.22%
Estimate Property Tax Bill
$535
Ownwell’s Gilliam Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Gilliam with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Gilliam 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 Gilliam, Missouri
Property taxes in Gilliam, Missouri, are crucial for funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Gilliam is 0.75%, 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 Gilliam set these rates annually, and they can vary significantly across different neighborhoods. Each year, Gilliam 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 Gilliam's effective property tax rate to other counties in Missouri and the national median. For comparison, the zip code 65330 has the highest median property tax rate of 0.75%, while the same zip code also has the lowest median tax rate of 0.75%. Understanding how these cities compare with Gilliam 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 Gilliam Tax Rate
1.22%
Average Saline County Tax Rate
1.17%
Average Missouri Tax Rate
1.20%
Average United States Tax Rate
0.99%
Property Tax Rates Across Gilliam, Missouri
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 65330 | 1.01% | 1.09% | 1.22% | 1.31% | 1.31% |
Source: Ownwell
Property Tax Assessment Values Across Gilliam, Missouri
In Gilliam, 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 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 Gilliam, 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 Gilliam helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The median home price in Gilliam is $43,818, with the 25th percentile tax bill at $219 and the 75th percentile tax bill at $1,109. Interestingly, the highest and lowest median tax bills are both $545 in the 65330 zip code.
Average Gilliam Assessed Value
$43,818
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 Gilliam, Missouri
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 65330 | $6,090 | $16,768 | $43,818 | $98,440 | $173,478 |
Source: Ownwell
Property Tax Bills Across Gilliam, Missouri
In Gilliam, located in Saline County, MO, property tax bills are calculated based on the assessed value of a home. The median home price in this area is $43,818, and property taxes are determined by applying the local tax rate to this assessed value. Factors such as the property's market value, any exemptions for which the homeowner qualifies, and the specific tax rate set by local authorities are all considered in this calculation. For homeowners in Gilliam, property tax bills can vary significantly. The 25th percentile tax bill is around $219, while the 75th percentile tax bill reaches $1,109. At the 90th percentile, homeowners might see a tax bill as high as $1,967. This variability highlights the importance of understanding how assessed values and applicable exemptions influence the final tax amount. Compared to the national median property tax rate of 0.99%, the tax rates and bills in Gilliam can have a substantial impact on household budgets, making it essential for homeowners to be well-informed and proactive about their property taxes.
Average Gilliam Tax Bill
$545
Average Saline County Tax Bill
$974
Average Missouri Tax Bill
$1,606
Average United States Tax Bill
$2,690
Property Tax Bills Across Gilliam, Missouri
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 65330 | $116 | $219 | $545 | $1,109 | $1,967 |
Source: Ownwell