Strafford, Missouri Property Taxes
The median property tax rate in Strafford, MO is 0.98%, slightly below the national median of 0.99% and significantly lower than Missouri's state median of 1.20%. With the median home value in Strafford, the typical annual property tax bill is $1,262, which is well below the national median of $2,690. Property taxes in Strafford are calculated based on the tax assessed value, often lower than the market value due to various exemptions like primary residence and agricultural exemptions. Understanding Strafford'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 Strafford 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
Strafford, Missouri Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.98%
Estimate Property Tax Bill
$1,280
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 0.98%, which is slightly below 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 65757 zip code has both the highest and lowest median property tax rate of 0.98%. Understanding how these cities compare with Strafford 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 Strafford Tax Rate
0.98%
Average Webster County Tax Rate
0.95%
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 | 0.92% | 0.96% | 0.98% | 0.99% | 0.99% |
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 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 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 median tax bill is 65757, with a median tax bill of $1,262.
Average Strafford Assessed Value
$130,650
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 Strafford, Missouri
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 65757 | $44,080 | $82,125 | $130,650 | $193,450 | $261,290 |
Source: Ownwell
Property Tax Bills Across Strafford, Missouri
In Strafford, MO, 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 property's market value. For instance, if the median home price in Strafford is $130,650, the assessed value would be a fraction of this amount, depending on the assessment rate set by the county. Once the assessed value is established, the local tax rate is applied to calculate the annual tax bill. In Strafford, the median tax bill can range significantly, from $769 at the 25th percentile to $2,546 at the 90th percentile. This variation is influenced by factors such as property size, location, and any applicable exemptions or deductions. For homeowners, these property taxes fund essential services like schools, public safety, and infrastructure. Compared to the national median property tax rate of 0.99%, Strafford's tax bills reflect the unique economic and property value conditions of the area, impacting how much residents contribute to local services.
Average Strafford Tax Bill
$1,262
Average Webster County Tax Bill
$871
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 | $417 | $769 | $1,262 | $1,879 | $2,546 |
Source: Ownwell