Saint Thomas, Missouri Property Taxes
The median property tax rate in Saint Thomas, MO is 0.99%, aligning with the national median but lower than Missouri's state median of 1.20%. With a median home value of $150,300 in Saint Thomas, the typical annual property tax bill amounts to $1,468, which is below the national median of $2,690. Property taxes in Saint Thomas are calculated based on the tax assessed value, which often falls below the market value due to various exemptions like the primary residence and agricultural exemptions. Understanding Saint Thomas'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 Saint Thomas 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
Saint Thomas, 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 Saint Thomas Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Saint Thomas with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Saint Thomas 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 Saint Thomas, Missouri
Property taxes in Saint Thomas, Missouri, are essential in funding critical local services such as public schools, road maintenance, and emergency services. The median tax rate in Saint Thomas is 0.99%, aligning with both the Missouri state median and the U.S. national median of 0.99%. Local government entities within Saint Thomas set these rates annually, and they can vary significantly across different neighborhoods. Each year, Saint Thomas 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 Saint Thomas's effective property tax rate to other counties in Missouri and the national median. For comparison, the 65076 zip code has both the highest and lowest median property tax rate of 0.99%. Understanding how these areas compare with Saint Thomas provides valuable insights into the varying tax landscape across Cole County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Saint Thomas Tax Rate
0.99%
Average Cole County Tax Rate
1.08%
Average Missouri Tax Rate
1.20%
Average United States Tax Rate
0.99%
Property Tax Rates Across Saint Thomas, Missouri
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 65076 | 0.93% | 0.98% | 0.99% | 0.99% | 1.00% |
Source: Ownwell
Property Tax Assessment Values Across Saint Thomas, Missouri
Understanding the difference between "market value" and "assessed value" is crucial for comprehending property taxes in Saint Thomas, 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 Cole 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 Saint Thomas, 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 Saint Thomas helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The highest median tax bill in the region is $1,468 in the 65076 zip code, while the lowest median tax bill is also $1,468 in the same zip code.
Average Saint Thomas Assessed Value
$150,300
Average Cole County Assessed Value
$135,700
Average Missouri Assessed Value
$129,505
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Saint Thomas, Missouri
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 65076 | $67,880 | $102,600 | $150,300 | $206,350 | $253,190 |
Source: Ownwell
Property Tax Bills Across Saint Thomas, Missouri
In Saint Thomas, property tax bills are calculated based on the assessed value of a home, which is determined by the local tax assessor. The assessed value is a percentage of the home's market value, which is then multiplied by the local tax rate. In Cole County, the median home price is $150,300. Homeowners in the 25th percentile can expect to pay around $993 in property taxes, while those in the 75th percentile might see bills up to $2040. For the top 10% of homeowners, tax bills can reach as high as $2489. Factors influencing the tax bill include the property's assessed value, the local tax rate, and any applicable exemptions or deductions. The highest median tax bill in the area is $1468 in the 65076 zip code. Compared to the national median property tax rate of 0.99%, homeowners in Saint Thomas may experience varying financial impacts, depending on their specific property valuations and local tax policies.
Average Saint Thomas Tax Bill
$1,468
Average Cole County Tax Bill
$1,444
Average Missouri Tax Bill
$1,606
Average United States Tax Bill
$2,690
Property Tax Bills Across Saint Thomas, Missouri
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 65076 | $657 | $993 | $1,468 | $2,040 | $2,489 |
Source: Ownwell