Strafford, Missouri Property Taxes
The median property tax rate in Strafford, MO is 0.86%, which is lower than both the national median of 0.99% and Missouri's state median of 1.20%. With a median home value of $15,500 in Strafford, the typical annual property tax bill is around $133, significantly below the national median of $2,690. Property taxes in Strafford are calculated based on the assessed value, which is often less than the market value due to various exemptions, including those for primary residences and agricultural properties. Understanding Strafford's property tax system, exploring available exemptions, and identifying opportunities for reductions can lead to substantial savings. Whether you're located in the heart of Strafford or its surrounding areas, gaining insight into the local property tax system is beneficial for both homeowners and real estate investors.
Last Updated June 14, 2024
Strafford, Missouri Property Tax Bill Calculator
$100,000
$2,500,000
$5,000,000
Average Tax Rate
1.2%
Estimate Property Tax Bill
$2,400
Ownwell’s Strafford Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Strafford with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Strafford 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 Strafford, Missouri
Property taxes in Strafford, Missouri, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Strafford is 0.86%, which is lower than the U.S. national median of 0.99%. Local government entities within Strafford set these rates annually, and they can vary significantly across different neighborhoods. Each year, Strafford 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 Strafford's effective property tax rate to other counties in Missouri and the national median. For comparison, the zip code 65757 has both the highest and lowest median property tax rate of 0.86%. Understanding how these cities compare with Strafford 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 Strafford Tax Rate
0.86%
Average Stone County Tax Rate
0.93%
Average Missouri Tax Rate
1.20%
Average United States Tax Rate
0.99%
Property Tax Rates Across Strafford, Missouri
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 65757 | 0.86% | 0.86% | 0.86% | 0.86% | 0.86% |
Source: Ownwell
Property Tax Assessment Values Across Strafford, Missouri
In Strafford, 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 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 Strafford, 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 Strafford helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The zip code with the highest and lowest median tax bills is 65757, both at $133.
Average Strafford Assessed Value
$15,500
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 Strafford, Missouri
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 65757 | $15,500 | $15,500 | $15,500 | $15,500 | $15,500 |
Source: Ownwell
Property Tax Bills Across Strafford, Missouri
In Strafford, located in Stone County, MO, property tax bills are calculated based on the assessed value of a home. The assessed value is determined by the county assessor and typically represents a percentage of the property's market value. In Strafford, the median home price is $15,500, and this valuation forms the basis for calculating the property tax. The tax rate applied to this assessed value is influenced by various factors, including local government budgets, school district funding needs, and other municipal services. Strafford's property tax bills show little variation, with the 25th, 75th, and 90th percentiles all reporting a tax bill of $133. This consistency indicates a stable tax environment for homeowners. For homeowners, these property taxes are essential as they fund critical community services such as public education, road maintenance, and emergency services. Compared to the national median property tax rate of 0.99%, Strafford’s property tax seems relatively low, offering homeowners a more affordable tax burden while still supporting necessary local services.
Average Strafford Tax Bill
$133
Average Stone County Tax Bill
$460
Average Missouri Tax Bill
$1,606
Average United States Tax Bill
$2,690
Property Tax Bills Across Strafford, Missouri
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 65757 | $133 | $133 | $133 | $133 | $133 |
Source: Ownwell