Leopold, Missouri Property Taxes
The median property tax rate in Leopold, MO is 0.83%, which is notably lower than both the national median of 0.99% and the Missouri state median of 1.20%. With the median home value in Leopold at $90,560, the typical annual property tax bill amounts to $838, significantly less than the national median of $2,690. Property taxes in Leopold are calculated based on the tax assessed value, which usually falls below the market value due to various exemptions such as primary residence and agricultural exemptions. Understanding Leopold'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 Leopold or another part of Bollinger County, familiarizing yourself with the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Leopold, 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 Leopold Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Leopold with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Leopold 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 Leopold, Missouri
Property taxes in Leopold, Missouri, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Leopold is 0.83%, which is lower than the U.S. national median of 0.99%. Local government entities within Leopold set these rates annually, and they can vary significantly across different neighborhoods. Each year, Leopold 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 Leopold's effective property tax rate to other regions in Missouri and the national median. For comparison, the 63760 zip code has both the highest and lowest median property tax rate at 0.83%. Understanding how these areas compare with Leopold 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 Leopold Tax Rate
0.83%
Average Bollinger County Tax Rate
0.80%
Average Missouri Tax Rate
1.20%
Average United States Tax Rate
0.99%
Property Tax Rates Across Leopold, Missouri
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 63760 | 0.76% | 0.80% | 0.83% | 0.83% | 1.06% |
Source: Ownwell
Property Tax Assessment Values Across Leopold, Missouri
In Leopold, 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 Leopold, 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 Leopold helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The median home price in Leopold is $90,560, with the highest and lowest median tax bills being $838.00 in the 63760 zip code.
Average Leopold Assessed Value
$90,560
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 Leopold, Missouri
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 63760 | $9,850 | $57,770 | $90,560 | $148,250 | $183,780 |
Source: Ownwell
Property Tax Bills Across Leopold, Missouri
In Leopold, Bollinger County, MO, property tax bills are calculated based on the assessed value of a home, which is a percentage of its market value. This assessed value is then multiplied by the local tax rate to determine the annual tax bill. For instance, with a median home price of $90,560, the property tax bill can vary significantly. The 25th percentile tax bill is $508, while the 75th percentile tax bill is $1,264, and the 90th percentile reaches $1,653. Factors influencing the tax bill include the property's assessed value, the local tax rate, and any applicable exemptions or deductions. Homeowners in Leopold can expect their property tax bills to be influenced by these variables, which helps fund essential public services such as schools, infrastructure, and emergency services. Compared to the national median property tax rate of 0.99%, Leopold’s property tax rate can be seen as relatively moderate, offering a balanced approach to funding community needs while considering homeowners' financial obligations.
Average Leopold Tax Bill
$838
Average Bollinger County Tax Bill
$498
Average Missouri Tax Bill
$1,606
Average United States Tax Bill
$2,690
Property Tax Bills Across Leopold, Missouri
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 63760 | $122 | $508 | $838 | $1,264 | $1,653 |
Source: Ownwell