Republic, Missouri Property Taxes
The median property tax rate in Republic, MO is 0.93%, slightly below the national median of 0.99% and significantly lower than the Missouri state median of 1.20%. With the median home value in Republic, the typical annual property tax bill amounts to $72, which is well below the national median of $2,690. Property taxes in Republic 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 Republic'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 Republic 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
Republic, Missouri Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.93%
Estimate Property Tax Bill
$73
Ownwell’s Republic Property Tax Bill Calculator empowers homeowners, real estate investors, and potential buyers to estimate their annual property taxes in Republic with just two data points. By entering your property's estimated assessed value, the calculator uses the median tax rate in Republic to project your property tax bill. This valuable tool provides a clear understanding of potential tax liabilities. For those interested in more granular details, you can explore trends on a neighborhood level by scrolling down for localized information. Your property’s assessed value is determined by Stone County for tax calculations, taking into account any applicable exemptions.
Property Tax Rates Across Republic, Missouri
Property taxes in Republic, Missouri, are vital in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Republic is 0.93%, which is lower than the U.S. national median of 0.99%. Local government entities within Republic set these rates annually, and they can vary significantly across different neighborhoods. Each year, Republic 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 Republic's effective property tax rate to other counties in Missouri and the national median. For comparison, the 65738 zip code has the highest median property tax rate of 0.93%, while the same zip code also has the lowest median tax rate of 0.93%. Understanding how these cities compare with Republic provides valuable insights into the varying tax landscape across Stone, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Republic Tax Rate
0.93%
Average Stone County Tax Rate
0.93%
Average Missouri Tax Rate
1.20%
Average United States Tax Rate
0.99%
Property Tax Rates Across Republic, Missouri
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 65738 | 0.93% | 0.93% | 0.93% | 0.93% | 0.93% |
Source: Ownwell
Property Tax Assessment Values Across Republic, Missouri
In Republic, 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 local appraisal authorities 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 Republic, 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 Republic helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The median home price in Stone County is $7,800, with tax bills ranging from $72 at the 25th percentile to $72 at the 90th percentile.
Average Republic Assessed Value
$7,800
Average Stone County Assessed Value
$50,150
Average Missouri Assessed Value
$129,505
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Republic, Missouri
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 65738 | $7,800 | $7,800 | $7,800 | $7,800 | $7,800 |
Source: Ownwell
Property Tax Bills Across Republic, Missouri
In Republic, located in Stone County, MO, property tax bills are calculated based on the assessed value of the property, which is determined by the local tax assessor. The assessed value is a percentage of the property's market value, and this figure is then multiplied by the local tax rate to determine the annual tax bill. For homeowners in Republic, the median home price is $7,800, which influences the assessed value and, consequently, the tax bill. The tax rate in Republic is influenced by various factors, including local government budgets, school district funding, and public services. Homeowners in the 25th, 75th, and 90th percentiles all face a tax bill of $72, reflecting a relatively uniform tax burden across different property values. This uniformity ensures that homeowners have a predictable annual expense, which can aid in financial planning. Compared to the national median property tax rate of 0.99%, Republic's tax rate provides a cost-effective environment for property owners, making it an attractive location for both new and long-term residents.
Average Republic Tax Bill
$72
Average Stone County Tax Bill
$460
Average Missouri Tax Bill
$1,606
Average United States Tax Bill
$2,690
Property Tax Bills Across Republic, Missouri
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 65738 | $72 | $72 | $72 | $72 | $72 |
Source: Ownwell