Alba, Missouri Property Taxes
The median property tax rate in Alba, MO is 1.05%, slightly higher than the national median of 0.99% but lower than the Missouri state median of 1.20%. With the median home value in Alba, the typical annual property tax bill reaches $559, which is significantly below the national median of $2,690. Property taxes in Alba are calculated based on the assessed value, which often falls below the market value due to various exemptions like the primary residence and agricultural exemptions. Understanding Alba'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 Alba 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
Alba, 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 ALBA Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in ALBA with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in ALBA 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 Alba, Missouri
Property taxes in Alba, Missouri, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Alba is 1.05%, higher than both the Missouri state median and the U.S. national median of 0.99%. Local government entities within Alba set these rates annually, and they can vary significantly across different neighborhoods. Each year, Alba 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 Alba's effective property tax rate to other counties in Missouri and the national median. For comparison, the 64830 zip code has the highest median property tax rate of 1.05%, while the same zip code also has the lowest median tax rate of 1.05%. Understanding how these cities compare with Alba provides valuable insights into the varying tax landscape across Jasper County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Alba Tax Rate
1.05%
Average Jasper County Tax Rate
0.89%
Average Missouri Tax Rate
1.20%
Average United States Tax Rate
0.99%
Property Tax Rates Across Alba, Missouri
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 64830 | 0.99% | 1.04% | 1.05% | 1.07% | 1.11% |
Source: Ownwell
Property Tax Assessment Values Across Alba, Missouri
In Alba, 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 Jasper 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 Alba, 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 Alba helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The zip code 64830 has the highest median tax bill of $559, while the lowest median tax bill is also $559.
Average Alba Assessed Value
$54,355
Average Jasper County Assessed Value
$82,940
Average Missouri Assessed Value
$129,505
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Alba, Missouri
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 64830 | $13,711 | $37,498 | $54,355 | $71,032 | $86,165 |
Source: Ownwell
Property Tax Bills Across Alba, Missouri
In Alba, located in Jasper 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, which is determined through periodic evaluations. For homeowners in Alba, the median home price is $54,355. The property tax rate in this area influences how much you ultimately pay. To illustrate, the 25th percentile tax bill is $386, while the 75th percentile tax bill stands at $769. For those at the 90th percentile, the tax bill can reach up to $906. This range indicates that the property tax burden can vary significantly depending on your home's assessed value. Notably, the highest and lowest median tax bills in the region are both $559, highlighting a specific zip code, 64830, where tax bills are relatively uniform. These property taxes fund essential local services, including schools, public safety, and infrastructure, impacting the quality of life for Alba residents. Homeowners need to be aware of these factors, as they directly affect annual expenses and the overall cost of homeownership.
Average Alba Tax Bill
$559
Average Jasper County Tax Bill
$737
Average Missouri Tax Bill
$1,606
Average United States Tax Bill
$2,690
Property Tax Bills Across Alba, Missouri
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 64830 | $132 | $386 | $559 | $769 | $906 |
Source: Ownwell