Sweet Springs, Missouri Property Taxes
The median property tax rate in Sweet Springs, MO is 1.18%, slightly higher than the national median of 0.99% but just below the Missouri state median of 1.20%. With the median home value in Sweet Springs at $81,691, the typical annual property tax bill amounts to $966, which is significantly lower than the national median of $2,690. Property taxes in Sweet Springs are calculated based on the tax assessed value, often lower than the market value due to various exemptions like primary residence and agricultural exemptions. Understanding Sweet Springs' property tax system, exploring available exemptions, and identifying opportunities for reductions can lead to significant annual savings. Whether you're in the heart of Sweet Springs 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
Sweet Springs, Missouri Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.18%
Estimate Property Tax Bill
$964
Ownwell’s Sweet Springs Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Sweet Springs with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Sweet Springs 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 Sweet Springs, Missouri
Property taxes in Sweet Springs, Missouri, are crucial in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Sweet Springs is 0.69%, which is lower than both the Missouri state median of 0.91% and the U.S. national median of 0.99%. Local government entities within Sweet Springs set these rates annually, and they can vary significantly across different neighborhoods. Each year, Sweet Springs 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 Sweet Springs' effective property tax rate to other counties in Missouri and the national median. For comparison, the 65351 zip code has both the highest and lowest median property tax rate of 0.69%. Understanding how these areas compare with Sweet Springs provides valuable insights into the varying tax landscape across Johnson County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Sweet Springs Tax Rate
1.18%
Average Johnson County Tax Rate
1.24%
Average Missouri Tax Rate
1.20%
Average United States Tax Rate
0.99%
Property Tax Rates Across Sweet Springs, Missouri
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 65351 | 1.02% | 1.08% | 1.18% | 1.20% | 1.22% |
Source: Ownwell
Property Tax Assessment Values Across Sweet Springs, Missouri
In Sweet Springs, 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 Johnson 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 Sweet Springs, 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 Sweet Springs is $81,691, with tax bills ranging from $680 at the 25th percentile to $1,657 at the 90th percentile. The highest and lowest median tax bills both stand at $966, specifically in the zip code 65351. 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 Sweet Springs helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Sweet Springs Assessed Value
$81,691
Average Johnson County Assessed Value
$74,883
Average Missouri Assessed Value
$129,505
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Sweet Springs, Missouri
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 65351 | $42,042 | $56,910 | $81,691 | $134,179 | $165,672 |
Source: Ownwell
Property Tax Bills Across Sweet Springs, Missouri
In Sweet Springs, 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 Sweet Springs is $81,691. Property tax rates in this area are influenced by local government budgets and the needs of public services such as schools, infrastructure, and emergency services. Homeowners in Sweet Springs typically see tax bills ranging from $680 at the 25th percentile to $1,398 at the 75th percentile, with the highest tax bills reaching up to $1,657 at the 90th percentile. The median property tax bill in Sweet Springs is $966, which is below the national median property tax rate of 0.99%. These tax bills can significantly impact homeowners, as they need to budget for this recurring expense. Higher tax bills can affect affordability, particularly for those on fixed incomes or with limited financial flexibility. Conversely, lower tax bills can make homeownership more accessible and manageable. Understanding these factors is crucial for homeowners when planning their finances.
Average Sweet Springs Tax Bill
$966
Average Johnson County Tax Bill
$947
Average Missouri Tax Bill
$1,606
Average United States Tax Bill
$2,690
Property Tax Bills Across Sweet Springs, Missouri
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 65351 | $508 | $680 | $966 | $1,398 | $1,657 |
Source: Ownwell