Luebbering, Missouri Property Taxes
The median property tax rate in Luebbering, MO is 1.07%, 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 $143,350 in Luebbering, the typical annual property tax bill amounts to $1,541, which is below the national median of $2,690. Property taxes in Luebbering 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 Luebbering'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 Luebbering or another part of Franklin County, understanding the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Luebbering, 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 Luebbering Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Luebbering with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Luebbering 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 Franklin County for property tax calculations, accounting for any exemptions that may apply.
Property Tax Rates Across Luebbering, Missouri
Property taxes in Luebbering, Missouri, are vital in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Luebbering is 1.07%, higher than both the Missouri state median and the U.S. national median of 0.99%. Local government entities within Luebbering set these rates annually, and they can vary significantly across different neighborhoods. Each year, Luebbering 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 Luebbering's effective property tax rate to other counties in Missouri and the national median. For comparison, the 63061 zip code has the highest median property tax rate of 1.07%, while the 63061 zip code also has the lowest median tax rate of 1.07%. Understanding how these cities compare with Luebbering 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 Luebbering Tax Rate
1.07%
Average Franklin County Tax Rate
1.08%
Average Missouri Tax Rate
1.20%
Average United States Tax Rate
0.99%
Property Tax Rates Across Luebbering, Missouri
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 63061 | 0.99% | 1.04% | 1.07% | 1.08% | 1.08% |
Source: Ownwell
Property Tax Assessment Values Across Luebbering, Missouri
Understanding the difference between "market value" and "assessed value" is crucial for comprehending property taxes in Luebbering, 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 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 Luebbering, 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 Luebbering helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The zip code 63061 has the highest and lowest median tax bill at $1,541.
Average Luebbering Assessed Value
$143,350
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 Luebbering, Missouri
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 63061 | $47,442 | $95,675 | $143,350 | $192,385 | $247,734 |
Source: Ownwell
Property Tax Bills Across Luebbering, Missouri
In Luebbering, located in Franklin County, MO, property tax bills are calculated based on the assessed value of a home, which is a percentage of its market value. The assessed value is then multiplied by the local tax rate to determine the tax bill. For instance, with a median home price of $143,350, homeowners can expect varying tax bills depending on the specific assessed value and applicable tax rates. Factors such as property location, improvements, and market conditions can influence the assessed value. Tax bills in Luebbering show significant variation, with the 25th percentile at $1,059 and the 75th percentile at $2,042. The 90th percentile reaches up to $2,660. This range indicates that while some homeowners may have relatively moderate tax bills, others could face significantly higher costs. Comparatively, the national median property tax rate is 0.99%, which provides a benchmark for understanding how Luebbering's property taxes stack up. For homeowners, these taxes can impact financial planning, home affordability, and overall cost of living in the area.
Average Luebbering Tax Bill
$1,541
Average Franklin County Tax Bill
$1,687
Average Missouri Tax Bill
$1,606
Average United States Tax Bill
$2,690
Property Tax Bills Across Luebbering, Missouri
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 63061 | $582 | $1,059 | $1,541 | $2,042 | $2,660 |
Source: Ownwell