Graff, Missouri Property Taxes
The median property tax rate in Graff, MO is 0.57%, considerably lower than both the national median of 0.99% and the Missouri state median of 1.20%. With the median home value in Graff, the typical annual property tax bill reaches $360, significantly below the national median of $2,690. Property taxes in Graff 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 Graff'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 Graff 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
Graff, 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 Graff Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Graff with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Graff 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 Graff, Missouri
Property taxes in Graff, Missouri, are crucial for funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Graff is 0.57%, significantly lower than both the Missouri state median and the U.S. national median of 0.99%. Local government entities within Graff set these rates annually, and they can vary significantly across different neighborhoods. Each year, Graff 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 Graff's effective property tax rate to other areas in Missouri and the national median. For comparison, the 65660 zip code has the highest median property tax rate of 0.57%, while the same zip code also has the lowest median tax rate of 0.57%. Understanding how these areas compare with Graff provides valuable insights into the varying tax landscape across Wright County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Graff Tax Rate
0.57%
Average Wright County Tax Rate
0.60%
Average Missouri Tax Rate
1.20%
Average United States Tax Rate
0.99%
Property Tax Rates Across Graff, Missouri
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 65660 | 0.54% | 0.55% | 0.57% | 0.63% | 0.70% |
Source: Ownwell
Property Tax Assessment Values Across Graff, Missouri
Understanding the difference between "market value" and "assessed value" is crucial for comprehending property taxes in Graff, Missouri. 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 Wright 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 Graff, 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 Graff is $61,368, with tax bills ranging from $211 at the 25th percentile to $924 at the 90th percentile. Notably, the highest and lowest median tax bills are both $360 in the 65660 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 Graff Assessed Value
$61,368
Average Wright County Assessed Value
$57,736
Average Missouri Assessed Value
$129,505
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Graff, Missouri
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 65660 | $16,842 | $35,368 | $61,368 | $115,973 | $168,105 |
Source: Ownwell
Property Tax Bills Across Graff, Missouri
In Graff, located in Wright County, MO, 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 Graff is $61,368. Property tax rates in the area are determined by local government budgets and the total assessed value of all properties within the jurisdiction. The tax bill for homeowners can vary significantly, with the 25th percentile at $211 and the 75th percentile at $599. Those at the 90th percentile may see tax bills as high as $924. Several factors influence the tax bill, including changes in the market value of properties, local tax rates, and any applicable exemptions. For example, the highest and lowest median tax bills in Wright County both stand at $360 in the zip code 65660. Compared to the national median property tax rate of 0.99%, Graff's property tax rates can be relatively manageable, but they still represent a significant annual expense for homeowners, impacting their overall financial planning.
Average Graff Tax Bill
$360
Average Wright County Tax Bill
$358
Average Missouri Tax Bill
$1,606
Average United States Tax Bill
$2,690
Property Tax Bills Across Graff, Missouri
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 65660 | $119 | $211 | $360 | $599 | $924 |
Source: Ownwell