Phillipsburg, Missouri Property Taxes
The median property tax rate in Phillipsburg, MO is 0.70%, which is notably lower than both the national median of 0.99% and Missouri's state median of 1.20%. With a median home value of $72,250 in Phillipsburg, the typical annual property tax bill amounts to $461, significantly under the national median of $2,690. Property taxes in Phillipsburg are determined based on the tax assessed value, which often falls below the market value due to various exemptions, such as primary residence and agricultural exemptions. Understanding Phillipsburg'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 Phillipsburg or another part of the city, gaining insight into the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Phillipsburg, 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 Phillipsburg Property Tax Bill Calculator is a valuable tool for homeowners, real estate investors, or potential buyers to estimate their annual property taxes in Phillipsburg with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Phillipsburg to provide an estimate of your property tax bill. This insightful tool helps you understand potential tax liabilities and plan accordingly. For those interested in more detailed trends at the neighborhood level, further localized information is available below. Your property’s assessed value is the value assigned by Dallas County for property tax calculations, taking into account any applicable exemptions.
Property Tax Rates Across Phillipsburg, Missouri
Property taxes in Phillipsburg, Missouri, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Phillipsburg is 0.63%, which is lower than both the Missouri state median of 0.91% and the U.S. national median of 0.99%. Local government entities within Phillipsburg set these rates annually, and they can vary significantly across different neighborhoods. Each year, Phillipsburg 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 Phillipsburg's effective property tax rate to other counties in Missouri and the national median. For comparison, the 65722 zip code has the highest median property tax rate of 0.63%, while the same zip code also has the lowest median tax rate of 0.63%. Understanding how these cities compare with Phillipsburg provides valuable insights into the varying tax landscape across Dallas County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Phillipsburg Tax Rate
0.70%
Average Dallas County Tax Rate
0.78%
Average Missouri Tax Rate
1.20%
Average United States Tax Rate
0.99%
Property Tax Rates Across Phillipsburg, Missouri
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 65722 | 0.58% | 0.65% | 0.70% | 0.76% | 0.81% |
Source: Ownwell
Property Tax Assessment Values Across Phillipsburg, Missouri
In Phillipsburg, 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 local 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 Phillipsburg, 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 Phillipsburg helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The median home price in Phillipsburg is $72,250, with tax bills varying widely. The tax bill at the 25th percentile is $294, while at the 75th percentile, it is $798. The highest median tax bill is $461 in the zip code 65722, which also has the lowest median tax bill at $461.
Average Phillipsburg Assessed Value
$72,250
Average Dallas County Assessed Value
$66,700
Average Missouri Assessed Value
$129,505
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Phillipsburg, Missouri
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 65722 | $21,920 | $43,450 | $72,250 | $115,275 | $149,810 |
Source: Ownwell
Property Tax Bills Across Phillipsburg, Missouri
In Phillipsburg, located in Dallas County, MO, property tax bills are calculated based on the assessed value of your home. The assessed value is a percentage of the market value of the property, determined by local assessors. For instance, with a median home price of $72,250, the assessed value is typically a fraction of this market value. The tax rate is then applied to this assessed value to determine the annual property tax bill. Several factors influence the final tax bill, including the local tax rate and any applicable exemptions or deductions. For homeowners in Phillipsburg, the property tax bill can vary significantly. The 25th percentile tax bill is around $294, while the 75th percentile reaches up to $798, and the 90th percentile can be as high as $1,099. This variability can significantly impact homeowners' budgets, making it crucial to understand how these taxes are calculated and what potential exemptions might be available to reduce the tax burden.
Average Phillipsburg Tax Bill
$461
Average Dallas County Tax Bill
$511
Average Missouri Tax Bill
$1,606
Average United States Tax Bill
$2,690
Property Tax Bills Across Phillipsburg, Missouri
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 65722 | $164 | $294 | $461 | $798 | $1,099 |
Source: Ownwell