Lynchburg, Missouri Property Taxes
The median property tax rate in Lynchburg, Missouri is 0.70%, which is notably lower than both the national median of 0.99% and the Missouri state median of 1.20%. With a median home value of $76,350 in Lynchburg, the typical annual property tax bill amounts to $530, significantly below the national median of $2,690. Property taxes in Lynchburg are determined based on the tax assessed value, which is often less than the market value due to various exemptions such as the primary residence and agricultural exemptions. Navigating Lynchburg's property tax system, exploring available exemptions, and identifying opportunities for reductions can lead to meaningful annual savings. Whether you're in the heart of Lynchburg 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
Lynchburg, Missouri Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.7%
Estimate Property Tax Bill
$534
Ownwell’s Lynchburg Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Lynchburg with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Lynchburg 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 Lynchburg, Missouri
Property taxes in Lynchburg, Missouri, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Lynchburg is 0.70%, which is lower than the U.S. national median of 0.99%. Local government entities within Lynchburg set these rates annually, and they can vary significantly across different neighborhoods. Each year, Lynchburg 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 Lynchburg's effective property tax rate to other counties in Missouri and the national median. For comparison, the 65543 zip code has both the highest and lowest median property tax rate of 0.70%. Understanding how these cities compare with Lynchburg 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 Lynchburg Tax Rate
0.70%
Average Laclede County Tax Rate
1.10%
Average Missouri Tax Rate
1.20%
Average United States Tax Rate
0.99%
Property Tax Rates Across Lynchburg, Missouri
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 65543 | 0.62% | 0.67% | 0.70% | 0.73% | 0.73% |
Source: Ownwell
Property Tax Assessment Values Across Lynchburg, Missouri
In Lynchburg, 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 Laclede 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 Lynchburg, 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 Lynchburg helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The highest median tax bill in Lynchburg is $530 in zip code 65543.
Average Lynchburg Assessed Value
$76,350
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 Lynchburg, Missouri
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 65543 | $36,820 | $52,200 | $76,350 | $108,100 | $152,120 |
Source: Ownwell
Property Tax Bills Across Lynchburg, Missouri
In Lynchburg, 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 Lynchburg stands at $76,350. To determine the tax bill, local authorities apply the county's tax rate to the assessed value. Several factors influence the final tax bill, including property location, improvements, and any applicable exemptions. For homeowners in Lynchburg, tax bills can vary significantly. The 25th percentile tax bill is around $390, while those in the 75th percentile pay about $738. At the 90th percentile, tax bills reach approximately $1,089. These variations reflect differences in property values and any adjustments or exemptions that may apply. Compared to the national median property tax rate of 0.99%, Lynchburg's property tax bills are relatively moderate, providing some relief to homeowners. Understanding these factors can help homeowners better anticipate their annual property tax obligations and plan their finances accordingly.
Average Lynchburg Tax Bill
$530
Average Laclede County Tax Bill
$742
Average Missouri Tax Bill
$1,606
Average United States Tax Bill
$2,690
Property Tax Bills Across Lynchburg, Missouri
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 65543 | $266 | $390 | $530 | $738 | $1,089 |
Source: Ownwell