Grovespring, Missouri Property Taxes
The median property tax rate in Grovespring, MO is 0.71%, considerably lower than both the national median of 0.99% and the Missouri state median of 1.20%. With the median home value in Grovespring at $62,600, the typical annual property tax bill reaches $348, significantly below the national median of $2,690. Property taxes in Grovespring are calculated based on the tax assessed value, which typically falls below the market value due to various exemptions like the primary residence and agricultural exemptions. Understanding Grovespring'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 Grovespring or another part of Webster County, understanding the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Grovespring, Missouri Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.71%
Estimate Property Tax Bill
$444
Ownwell’s Grovespring Property Tax Bill Calculator assists homeowners, real estate investors, and potential buyers in estimating their annual property taxes in Grovespring with just two data points. By inputting your property's estimated assessed value, the calculator uses the median tax rate in Grovespring to provide an estimate of your property tax bill. This valuable tool helps you understand potential tax liabilities. For those interested in more granular trends, there is localized information available further down the page. Your property’s assessed value is the value assigned by Webster County for property tax calculations, taking into account any applicable exemptions.
Property Tax Rates Across Grovespring, Missouri
Property taxes in Grovespring, Missouri, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Grovespring is 0.71%, which is lower than the U.S. national median of 0.99%. Local government entities within Grovespring set these rates annually, and they can vary significantly across different neighborhoods. Each year, Grovespring 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 Grovespring's effective property tax rate to other counties in Missouri and the national median. For comparison, the 65662 zip code has the highest median property tax rate of 0.71%, while the same zip code also has the lowest median tax rate of 0.71%. Understanding how these cities compare with Grovespring provides valuable insights into the varying tax landscape across Webster County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Grovespring Tax Rate
0.71%
Average Webster County Tax Rate
0.95%
Average Missouri Tax Rate
1.20%
Average United States Tax Rate
0.99%
Property Tax Rates Across Grovespring, Missouri
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 65662 | 0.59% | 0.65% | 0.71% | 0.72% | 0.72% |
Source: Ownwell
Property Tax Assessment Values Across Grovespring, Missouri
In Grovespring, 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 Webster 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 Grovespring, 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 Grovespring is $62,600, with tax bills ranging from $342 at the 25th percentile to $807 at the 90th percentile. The highest and lowest median tax bills, both at $348, are found in the 65662 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 Grovespring Assessed Value
$62,600
Average Webster County Assessed Value
$95,600
Average Missouri Assessed Value
$129,505
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Grovespring, Missouri
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 65662 | $32,260 | $47,200 | $62,600 | $109,000 | $117,160 |
Source: Ownwell
Property Tax Bills Across Grovespring, Missouri
In Grovespring, located in Webster County, MO, property tax bills are calculated based on the assessed value of a home, which is a percentage of its market value. Homeowners in Grovespring typically see a median home price of $62,600. The assessed value is then multiplied by the local tax rate to determine the annual property tax bill. The tax rate in Grovespring is influenced by various factors, including local government budgets, school funding, and public services. Homeowners in Grovespring can expect a wide range of property tax bills. For instance, those in the 25th percentile pay around $342 annually, while those in the 75th percentile pay approximately $707. At the 90th percentile, the tax bill can reach up to $807. Compared to the national median property tax rate of 0.99%, Grovespring's rates can be considered relatively moderate, making it an attractive location for homeowners seeking affordable property taxes.
Average Grovespring Tax Bill
$348
Average Webster County Tax Bill
$871
Average Missouri Tax Bill
$1,606
Average United States Tax Bill
$2,690
Property Tax Bills Across Grovespring, Missouri
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 65662 | $233 | $342 | $348 | $707 | $807 |
Source: Ownwell