Spokane, Missouri Property Taxes
The median property tax rate in Spokane, MO is 0.93%, which is lower than both the national median of 0.99% and the Missouri state median of 1.20%. With a median home value of $16,000 in Spokane, the typical annual property tax bill is $151, significantly below the national median of $2,690. Property taxes in Spokane are calculated based on the tax assessed value, which often falls below the market value due to various exemptions, such as those for primary residences and agricultural properties. Understanding Spokane's property tax system, exploring available exemptions, and identifying opportunities for reductions can lead to substantial annual savings. Whether you're in the heart of Spokane or another part of the city, comprehending the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Spokane, Missouri Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.93%
Estimate Property Tax Bill
$149
Ownwell’s Spokane Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Spokane with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Spokane 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 Spokane, Missouri
Property taxes in Spokane, Missouri, are vital in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Spokane is 0.93%, which is lower than the U.S. national median of 0.99%. Local government entities within Spokane set these rates annually, and they can vary significantly across different neighborhoods. Each year, Spokane 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 Spokane's effective property tax rate to other counties in Missouri and the national median. For comparison, the 65754 zip code has the highest median property tax rate of 0.93%, while the 65754 zip code also has the lowest median tax rate of 0.93%. Understanding how these cities compare with Spokane provides valuable insights into the varying tax landscape across Stone County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Spokane 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 Spokane, Missouri
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 65754 | 0.80% | 0.88% | 0.93% | 0.96% | 0.96% |
Source: Ownwell
Property Tax Assessment Values Across Spokane, Missouri
In Spokane, 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 Stone 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 Spokane, 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 Spokane is $16,000, with tax bills ranging from $24 at the 25th percentile to $1,245 at the 90th percentile. Being aware of these valuation processes in Spokane helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Spokane Assessed Value
$16,000
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 Spokane, Missouri
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 65754 | $1,110 | $3,332 | $16,000 | $85,400 | $129,720 |
Source: Ownwell
Property Tax Bills Across Spokane, Missouri
In Spokane, property tax bills are calculated based on the assessed value of a home, which is determined by the local assessor's office. The assessed value is a percentage of the market value, and this percentage can vary. Once the assessed value is established, the local tax rate is applied to determine the tax bill. For instance, the median home price in Spokane is $16,000. Several factors influence the final tax bill, including the property's location, size, and any applicable exemptions or deductions. Tax bills can vary significantly; the 25th percentile tax bill is around $24, while the 75th percentile reaches $818, and the 90th percentile goes up to $1,245. These property taxes have a direct impact on homeowners, affecting monthly mortgage payments and overall housing affordability. Compared to the national median property tax rate of 0.99%, Spokane's tax rates can be considered relatively moderate, providing some financial relief to homeowners in the area.
Average Spokane Tax Bill
$151
Average Stone County Tax Bill
$460
Average Missouri Tax Bill
$1,606
Average United States Tax Bill
$2,690
Property Tax Bills Across Spokane, Missouri
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 65754 | $10 | $24 | $151 | $818 | $1,245 |
Source: Ownwell