Butterfield, Missouri Property Taxes
The median property tax rate in Butterfield, MO is 1.00%, slightly higher than the national median of 0.99% but lower than the Missouri state median of 1.20%. With a median home value of $41,150 in Butterfield, the typical annual property tax bill is $440, which is significantly below the national median of $2,690. Property taxes in Butterfield are calculated based on the tax assessed value, often lower than the market value due to exemptions such as those for primary residences and agricultural properties. Understanding Butterfield's property tax system, exploring available exemptions, and identifying opportunities for reductions can lead to substantial annual savings. Whether you're in the heart of Butterfield 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
Butterfield, 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 Butterfield Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Butterfield with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Butterfield 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 Butterfield, Missouri
Property taxes in Butterfield, Missouri, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Butterfield is 1.00%, which is higher than both the Missouri state median and the U.S. national median of 0.99%. Local government entities within Butterfield set these rates annually, and they can vary significantly across different neighborhoods. Each year, Butterfield 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 Butterfield's effective property tax rate to other counties in Missouri and the national median. For comparison, the 65625 zip code has both the highest and lowest median property tax rate of 1.00%. Understanding how these cities compare with Butterfield provides valuable insights into the varying tax landscape across Barry County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Butterfield Tax Rate
1.00%
Average Barry County Tax Rate
0.86%
Average Missouri Tax Rate
1.20%
Average United States Tax Rate
0.99%
Property Tax Rates Across Butterfield, Missouri
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 65625 | 0.85% | 0.90% | 1.00% | 1.10% | 1.15% |
Source: Ownwell
Property Tax Assessment Values Across Butterfield, Missouri
In Butterfield, 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 Barry 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 Butterfield, 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. The median home price in Butterfield is $41,150, with tax bills ranging from $325 at the 25th percentile to $626 at the 90th percentile. The highest and lowest median tax bills are both $440, found in the 65625 zip code. By understanding these valuation concepts, property owners can better navigate their tax responsibilities and identify opportunities for protesting assessments or applying for exemptions to effectively manage their tax burden.
Average Butterfield Assessed Value
$41,150
Average Barry County Assessed Value
$82,200
Average Missouri Assessed Value
$129,505
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Butterfield, Missouri
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 65625 | $28,950 | $33,525 | $41,150 | $48,775 | $53,350 |
Source: Ownwell
Property Tax Bills Across Butterfield, Missouri
Property tax bills in Butterfield, located in Barry County, MO, are determined by the assessed value of a property and the local tax rate. The assessed value is a percentage of the property's market value, which is calculated by the county assessor. For homeowners in Butterfield, the median home price is $41,150. The local tax rate is then applied to this assessed value to determine the annual tax bill. Factors such as home improvements, neighborhood changes, and market conditions can influence the assessed value, impacting the tax bill. In Butterfield, the 25th percentile tax bill is $325, while the 75th percentile reaches $556, and the 90th percentile is $626. The highest and lowest median tax bills both stand at $440 in the 65625 zip code. For homeowners, understanding these factors is crucial as property taxes can significantly affect annual expenses. Compared to the national median property tax rate of 0.99%, Butterfield's tax rates provide some context for budgeting and financial planning.
Average Butterfield Tax Bill
$440
Average Barry County Tax Bill
$696
Average Missouri Tax Bill
$1,606
Average United States Tax Bill
$2,690
Property Tax Bills Across Butterfield, Missouri
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 65625 | $255 | $325 | $440 | $556 | $626 |
Source: Ownwell