Asbury, Missouri Property Taxes
The median property tax rate in Asbury, MO is 1.00%, slightly above the national median of 0.99% but lower than the Missouri state median of 1.20%. With a median home value of $43,510 in Asbury, the typical annual property tax bill amounts to $396, which is significantly less than the national median of $2,690. Property taxes in Asbury are calculated based on the tax assessed value, which is often lower than the market value due to exemptions such as those for primary residences and agricultural purposes. By understanding Asbury's property tax system, exploring available exemptions, and identifying opportunities for reductions, homeowners and real estate investors can achieve substantial annual savings. Whether you're in the heart of Asbury or another part of the city, a thorough grasp of the local property tax system is beneficial.
Last Updated June 14, 2024
Asbury, Missouri Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1%
Estimate Property Tax Bill
$435
Ownwell’s Asbury Property Tax Bill Calculator empowers homeowners, real estate investors, and potential buyers to estimate their annual property taxes in Asbury with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Asbury to provide an accurate estimate of your property tax bill. This valuable tool helps you understand potential tax liabilities and make informed decisions. For those interested in more granular insights, localized neighborhood trends are available below. Your property’s assessed value, determined by Jasper County, is used for property tax calculations and includes any applicable exemptions.
Property Tax Rates Across Asbury, Missouri
Property taxes in Asbury, Missouri, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Asbury is 1.00%, which is higher than the U.S. national median of 0.99%. Local government entities within Asbury set these rates annually, and they can vary significantly across different neighborhoods. Each year, Asbury 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 Asbury's effective property tax rate to other areas in Missouri and the national median. For comparison, the 64832 zip code has the highest median property tax rate of 1.00%, while the 64832 zip code also has the lowest median tax rate of 1.00%. Understanding how these areas compare with Asbury 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 Asbury Tax Rate
1.00%
Average Jasper County Tax Rate
0.89%
Average Missouri Tax Rate
1.20%
Average United States Tax Rate
0.99%
Property Tax Rates Across Asbury, Missouri
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 64832 | 0.89% | 0.95% | 1.00% | 1.04% | 1.10% |
Source: Ownwell
Property Tax Assessment Values Across Asbury, Missouri
Understanding the difference between "market value" and "assessed value" is crucial for comprehending property taxes in Asbury, 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 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 Asbury, 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. The median home price in Asbury is $43,510, with the 25th percentile tax bill at $156 and the 75th percentile tax bill at $728. The highest and lowest median tax bills are both $396 in the 64832 zip code. By understanding these valuation concepts, property owners can better navigate their tax responsibilities and comprehend how their property taxes are determined. This awareness helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Asbury Assessed Value
$43,510
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 Asbury, Missouri
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 64832 | $5,360 | $15,880 | $43,510 | $75,400 | $130,820 |
Source: Ownwell
Property Tax Bills Across Asbury, Missouri
In Asbury, Jasper County, MO, property tax bills are calculated based on the assessed value of a home, which is a percentage of its market value. The median home price in Asbury is $43,510. Tax rates are applied to this assessed value to determine the annual tax bill. For instance, homeowners at the 25th percentile pay around $156, while those at the 75th percentile see bills closer to $728. At the 90th percentile, the tax bill can reach up to $1,262. Several factors influence these tax bills, including the property's assessed value, local tax rates, and any applicable exemptions or deductions. These taxes are crucial for funding public services such as schools, infrastructure, and emergency services. Homeowners in Asbury experience a range of tax bills, with the highest and lowest median tax bills both recorded at $396 in the 64832 zip code. Compared to the national median property tax rate of 0.99%, Asbury's property tax rates can be considered relatively modest, making it an attractive location for many homeowners.
Average Asbury Tax Bill
$396
Average Jasper County Tax Bill
$737
Average Missouri Tax Bill
$1,606
Average United States Tax Bill
$2,690
Property Tax Bills Across Asbury, Missouri
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 64832 | $38 | $156 | $396 | $728 | $1,262 |
Source: Ownwell