Gipsy, Missouri Property Taxes
The median property tax rate in Gipsy, MO is 0.78%, which is lower than both the national median of 0.99% and the Missouri state median of 1.20%. With a median home value of $29,500 in Gipsy, the typical annual property tax bill amounts to $227, significantly below the national median of $2,690. Property taxes in Gipsy are calculated based on the tax assessed value, which is often less than the market value due to various exemptions like primary residence and agricultural exemptions. Understanding Gipsy'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 Gipsy or another part of Bollinger County, grasping the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Gipsy, 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 Gipsy Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Gipsy with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Gipsy 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 Gipsy, Missouri
Property taxes in Gipsy, Missouri, are vital in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Gipsy is 0.78%, which is lower than the U.S. national median of 0.99%. Local government entities within Gipsy set these rates annually, and they can vary significantly across different neighborhoods. Each year, Gipsy 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 Gipsy's effective property tax rate to other counties in Missouri and the national median. For comparison, the zip code 63750 has the highest median property tax rate of 0.78%, while the same zip code also has the lowest median tax rate of 0.78%. Understanding how these cities compare with Gipsy provides valuable insights into the varying tax landscape across Bollinger County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Gipsy Tax Rate
0.78%
Average Bollinger County Tax Rate
0.80%
Average Missouri Tax Rate
1.20%
Average United States Tax Rate
0.99%
Property Tax Rates Across Gipsy, Missouri
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 63750 | 0.70% | 0.74% | 0.78% | 0.79% | 0.79% |
Source: Ownwell
Property Tax Assessment Values Across Gipsy, Missouri
In Gipsy, 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 Bollinger 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 Gipsy, 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 Gipsy helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The highest and lowest median tax bills are both $227, found in the 63750 zip code.
Average Gipsy Assessed Value
$29,500
Average Bollinger County Assessed Value
$59,990
Average Missouri Assessed Value
$129,505
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Gipsy, Missouri
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 63750 | $3,800 | $11,218 | $29,500 | $69,118 | $90,235 |
Source: Ownwell
Property Tax Bills Across Gipsy, Missouri
In Gipsy, located in Bollinger County, 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, and the local tax rate is then applied to this assessed value to determine the tax bill. For example, with a median home price of $29,500, homeowners can expect varying tax bills depending on their property's assessed value and the applicable tax rate. Tax bills in Gipsy can range significantly, with the 25th percentile paying around $86, while those in the 75th percentile pay approximately $524, and the 90th percentile facing bills up to $668. These figures highlight the variation in tax burdens within the community. The highest and lowest median tax bills in the area are both recorded at $227 in the 63750 zip code. Understanding these factors helps homeowners anticipate their annual tax obligations and plan their finances accordingly.
Average Gipsy Tax Bill
$227
Average Bollinger County Tax Bill
$498
Average Missouri Tax Bill
$1,606
Average United States Tax Bill
$2,690
Property Tax Bills Across Gipsy, Missouri
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 63750 | $34 | $86 | $227 | $524 | $668 |
Source: Ownwell