Lodi, Missouri Property Taxes
The median property tax rate in Lodi, MO is 0.75%, which is lower than both the national median of 0.99% and the Missouri state median of 1.20%. With the median home value in Lodi at $13,900, the typical annual property tax bill amounts to $147, significantly below the national median of $2,690. Property taxes in Lodi are calculated based on the tax assessed value, often lower than the market value due to various exemptions such as those for primary residences and agricultural properties. Understanding Lodi'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 Lodi 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
Lodi, Missouri Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.75%
Estimate Property Tax Bill
$104
Ownwell’s Lodi Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Lodi with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Lodi 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 Lodi, Missouri
Property taxes in Lodi, Missouri, are crucial for funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Lodi is 0.75%, which is lower than the U.S. national median of 0.99%. Local government entities within Lodi set these rates annually, and they can vary significantly across different neighborhoods. Each year, Lodi 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 Lodi's effective property tax rate to other counties in Missouri and the national median. For comparison, the 63950 zip code has both the highest and lowest median property tax rate of 0.75%. Understanding how these cities compare with Lodi provides valuable insights into the varying tax landscape across Wayne County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Lodi Tax Rate
0.75%
Average Wayne County Tax Rate
0.77%
Average Missouri Tax Rate
1.20%
Average United States Tax Rate
0.99%
Property Tax Rates Across Lodi, Missouri
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 63950 | 0.67% | 0.69% | 0.75% | 0.75% | 0.75% |
Source: Ownwell
Property Tax Assessment Values Across Lodi, Missouri
In Lodi, 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 Wayne 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 Lodi, 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. For instance, Lodi's highest median tax bill is $147 in the 63950 zip code, while the lowest median tax bill is also $147 in the same zip code. Being aware of these valuation processes helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Lodi Assessed Value
$13,900
Average Wayne County Assessed Value
$16,000
Average Missouri Assessed Value
$129,505
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Lodi, Missouri
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 63950 | $3,750 | $8,625 | $13,900 | $39,875 | $64,980 |
Source: Ownwell
Property Tax Bills Across Lodi, Missouri
In Lodi, Missouri, property tax bills are calculated based on the assessed value of a home, which is a percentage of its market value. The median home price in Lodi is $13,900. Homeowners' tax bills can vary significantly, with the 25th percentile tax bill at $56 and the 75th percentile reaching $307. The 90th percentile tax bill can be as high as $538. Several factors determine the tax bill, including the property's assessed value, local tax rates, and any applicable exemptions. The assessed value is typically a fraction of the market value, and this figure is then multiplied by the local tax rate to determine the final bill. In Wayne County, where Lodi is located, the highest and lowest median tax bills are both recorded at $147 in the zip code 63950. Compared to the national median property tax rate of 0.99%, Lodi's property taxes present a varied landscape, potentially offering lower rates for homeowners but also showing a broad range in tax liabilities. This variability can significantly impact homeowners, influencing their overall housing costs and financial planning.
Average Lodi Tax Bill
$147
Average Wayne County Tax Bill
$122
Average Missouri Tax Bill
$1,606
Average United States Tax Bill
$2,690
Property Tax Bills Across Lodi, Missouri
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 63950 | $27 | $56 | $147 | $307 | $538 |
Source: Ownwell