Lonedell, Missouri Property Taxes
The median property tax rate in Lonedell, MO is 1.06%, which is 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 $116,660 in Lonedell, the typical annual property tax bill amounts to $1,333, falling below the national median of $2,690. Property taxes in Lonedell are calculated based on the tax assessed value, which is often lower than the market value due to various exemptions such as the primary residence and agricultural exemptions. By understanding Lonedell's property tax system, exploring available exemptions, and identifying opportunities for reductions, homeowners and real estate investors can achieve significant annual savings. Whether you reside in the heart of Lonedell or another part of the area, familiarizing yourself with the local property tax system is advantageous for managing costs effectively.
Last Updated June 14, 2024
Lonedell, Missouri Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.06%
Estimate Property Tax Bill
$1,237
Ownwell’s Lonedell Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Lonedell with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Lonedell 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 Lonedell, Missouri
Property taxes in Lonedell, Missouri, are essential for funding crucial local services such as public schools, road maintenance, and emergency services. The median tax rate in Lonedell is 0.91%, slightly lower than the Missouri state median of 0.97% and below the U.S. national median of 0.99%. Local government entities within Lonedell set these rates annually, and they can vary significantly across different neighborhoods. Each year, Lonedell 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 Lonedell's effective property tax rate to other counties in Missouri and the national median. For comparison, the 63060 zip code has the highest median property tax rate of 1.06%, while the same zip code also has the lowest median tax rate of 1.06%. Understanding how these cities compare with Lonedell provides valuable insights into the varying tax landscape across Franklin County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Lonedell Tax Rate
1.06%
Average Franklin County Tax Rate
1.08%
Average Missouri Tax Rate
1.20%
Average United States Tax Rate
0.99%
Property Tax Rates Across Lonedell, Missouri
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 63060 | 0.97% | 1.03% | 1.06% | 1.08% | 1.08% |
Source: Ownwell
Property Tax Assessment Values Across Lonedell, Missouri
In Lonedell, 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 Franklin 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 Lonedell, 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 Lonedell helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The zip code 63060 has the highest and lowest median tax bill at $1333.
Average Lonedell Assessed Value
$116,660
Average Franklin County Assessed Value
$143,800
Average Missouri Assessed Value
$129,505
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Lonedell, Missouri
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 63060 | $20,998 | $53,715 | $116,660 | $176,660 | $244,268 |
Source: Ownwell
Property Tax Bills Across Lonedell, Missouri
In Lonedell, property tax bills are calculated based on the assessed value of a home, which is a percentage of the property's market value. For instance, with a median home price of $116,660 in Franklin County, the assessed value is determined by local assessment rates. This assessed value is then multiplied by the local tax rate to determine the annual property tax bill. Factors influencing the tax bill include the market value of the property, local assessment rates, and specific tax rates set by local taxing authorities. The tax bill can vary significantly; at the 25th percentile, homeowners might pay around $818, while those at the 75th percentile could see bills as high as $1,911. The highest median tax bill in the area is $1,333, which is notably lower than the national median property tax rate of 0.99%. These taxes directly impact homeowners by contributing to local services and infrastructure, influencing overall affordability and the cost of homeownership in Lonedell.
Average Lonedell Tax Bill
$1,333
Average Franklin County Tax Bill
$1,687
Average Missouri Tax Bill
$1,606
Average United States Tax Bill
$2,690
Property Tax Bills Across Lonedell, Missouri
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 63060 | $295 | $818 | $1,333 | $1,911 | $2,656 |
Source: Ownwell