Reeds, Missouri Property Taxes
The median property tax rate in Reeds, MO is 0.79%, notably lower than both the national median of 0.99% and the Missouri state median of 1.20%. With the median home value in Reeds at $52,080, the typical annual property tax bill amounts to $375, significantly below the national median of $2,690. Property taxes in Reeds are calculated based on the tax assessed value, which typically falls below the market value due to various exemptions, such as primary residence and agricultural exemptions. Understanding Reeds' property tax system, exploring available exemptions, and identifying opportunities for reductions can lead to significant annual savings. Whether you're in the heart of Reeds 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
Reeds, Missouri Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.79%
Estimate Property Tax Bill
$411
Ownwell’s Reeds Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Reeds with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Reeds 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 Reeds, Missouri
Property taxes in Reeds, Missouri, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Reeds is 0.79%, which is lower than the U.S. national median of 0.99%. Local government entities within Reeds set these rates annually, and they can vary significantly across different neighborhoods. Each year, Reeds 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 Reeds' effective property tax rate to other areas and the national median. For comparison, the zip code 64859 has the highest median property tax rate of 0.79%, while the same zip code also has the lowest median tax rate of 0.79%. Understanding how these figures compare with Reeds 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 Reeds Tax Rate
0.79%
Average Jasper County Tax Rate
0.89%
Average Missouri Tax Rate
1.20%
Average United States Tax Rate
0.99%
Property Tax Rates Across Reeds, Missouri
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 64859 | 0.62% | 0.76% | 0.79% | 0.82% | 0.86% |
Source: Ownwell
Property Tax Assessment Values Across Reeds, Missouri
In Reeds, 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 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 Reeds, 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 Reeds helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The zip code 64859 has the highest and lowest median tax bill of $375.
Average Reeds Assessed Value
$52,080
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 Reeds, Missouri
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 64859 | $12,500 | $27,290 | $52,080 | $78,920 | $123,630 |
Source: Ownwell
Property Tax Bills Across Reeds, Missouri
In Reeds, located in Jasper County, MO, property tax bills are calculated based on the assessed value of a property, which is a percentage of its market value. The median home price in Reeds is $52,080. Homeowners can expect their property tax bills to vary significantly, with the 25th percentile paying around $207, while those in the 75th percentile see bills closer to $599. At the 90th percentile, tax bills can reach up to $932. These figures are influenced by several factors, including the property's assessed value, local tax rates, and any applicable exemptions. The median tax bill in Reeds is $375, which is considerably lower than the national median property tax rate of 0.99%. This relatively low tax burden can make Reeds an attractive place for homeowners looking for affordability. However, it's essential for property owners to stay informed about their property's assessed value and any changes in local tax laws to manage their financial expectations effectively.
Average Reeds Tax Bill
$375
Average Jasper County Tax Bill
$737
Average Missouri Tax Bill
$1,606
Average United States Tax Bill
$2,690
Property Tax Bills Across Reeds, Missouri
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 64859 | $91 | $207 | $375 | $599 | $932 |
Source: Ownwell