Grovespring, Missouri Property Taxes
The median property tax rate in Grovespring, MO is 0.74%, which is lower than both the national median of 0.99% and Missouri's state median of 1.20%. With a median home value of $65,300 in Grovespring, the typical annual property tax bill amounts to $501, significantly below the national median of $2,690. Property taxes in Grovespring are calculated based on the tax assessed value, which often falls below the market value due to various exemptions, such as those for primary residences and agricultural properties. By understanding Grovespring's property tax system, exploring available exemptions, and identifying opportunities for reductions, homeowners can achieve substantial annual savings. Whether you're in the heart of Grovespring 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
Grovespring, 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 Grovespring Property Tax Bill Calculator empowers homeowners, real estate investors, and potential buyers to estimate their annual property taxes in Grovespring with just two data inputs. By entering your property's estimated assessed value, the calculator applies the median tax rate in Grovespring to provide an accurate estimate of your property tax bill. This valuable tool helps you understand potential tax liabilities. For those interested in neighborhood-level trends, additional localized information is available below. Your property’s assessed value is the figure assigned by the county for property tax calculations, considering any applicable exemptions.
Property Tax Rates Across Grovespring, Missouri
Property taxes in Grovespring, Missouri, are vital in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Grovespring is 0.74%, which is lower than the U.S. national median of 0.99%. Local government entities within Grovespring set these rates annually, and they can vary significantly across different neighborhoods. Each year, Grovespring 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 Grovespring's effective property tax rate to other counties in Missouri and the national median. For comparison, the zip code 65662 has both the highest and lowest median property tax rate of 0.74%, matching Grovespring's rate. Understanding how these cities compare with Grovespring provides valuable insights into the varying tax landscape across Laclede County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Grovespring Tax Rate
0.74%
Average Laclede County Tax Rate
1.10%
Average Missouri Tax Rate
1.20%
Average United States Tax Rate
0.99%
Property Tax Rates Across Grovespring, Missouri
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 65662 | 0.66% | 0.72% | 0.74% | 0.92% | 1.01% |
Source: Ownwell
Property Tax Assessment Values Across Grovespring, Missouri
Understanding the difference between "market value" and "assessed value" is crucial for comprehending property taxes in Grovespring, 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 local 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. 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. For instance, in Grovespring, the median home price is $65,300. Property tax bills can vary significantly, with the 25th percentile at $303 and the 90th percentile at $1,291. The highest median tax bill is $501 in the 65662 zip code. By understanding these valuation concepts, property owners can better navigate their tax responsibilities and identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Grovespring Assessed Value
$65,300
Average Laclede County Assessed Value
$72,400
Average Missouri Assessed Value
$129,505
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Grovespring, Missouri
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 65662 | $26,400 | $38,200 | $65,300 | $108,575 | $165,300 |
Source: Ownwell
Property Tax Bills Across Grovespring, Missouri
In Grovespring, property tax bills are calculated based on the assessed value of a homeowner's property. The assessed value is a percentage of the property's market value, which in Grovespring, is influenced by the local median home price of $65,300. Local tax rates are then applied to this assessed value to determine the final tax bill. Factors such as property location, size, and improvements can affect the assessed value, and consequently, the tax bill. For homeowners in Grovespring, the tax bill can vary widely. At the 25th percentile, the tax bill is around $303, while at the 75th percentile, it rises to approximately $971. The top 10% of tax bills can reach up to $1,291. Compared to the national median property tax rate of 0.99%, Grovespring's tax rates may seem relatively moderate but can still represent a significant expense for homeowners. Understanding these factors helps homeowners anticipate their annual property tax obligations and plan their finances accordingly.
Average Grovespring Tax Bill
$501
Average Laclede County Tax Bill
$742
Average Missouri Tax Bill
$1,606
Average United States Tax Bill
$2,690
Property Tax Bills Across Grovespring, Missouri
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 65662 | $249 | $303 | $501 | $971 | $1,291 |
Source: Ownwell