Leonard, Missouri Property Taxes
The median property tax rate in Leonard, Missouri is 0.81%, which is lower than both the national median of 0.99% and the Missouri state median of 1.20%. With a median home value of $110,329 in Leonard, the typical annual property tax bill amounts to $891, significantly less than the national median of $2,690. Property taxes in Leonard are calculated based on the tax assessed value, which can be lower than the market value due to exemptions such as those for primary residences and agricultural use. Understanding Leonard's property tax system, exploring available exemptions, and identifying opportunities for reductions can lead to substantial annual savings. Whether you're in the heart of Leonard or another part of the city, grasping the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Leonard, 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 Leonard Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Leonard with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Leonard 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 Leonard, Missouri
Property taxes in Leonard, Missouri, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Leonard is 0.81%, which is lower than the U.S. national median of 0.99%. Local government entities within Leonard set these rates annually, and they can vary significantly across different neighborhoods. Each year, Leonard 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 Leonard's effective property tax rate to other counties in Missouri and the national median. For comparison, the ZIP code 63451 has both the highest and lowest median property tax rates of 0.81%. Understanding how these cities compare with Leonard provides valuable insights into the varying tax landscape across Macon County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Leonard Tax Rate
0.81%
Average Macon County Tax Rate
0.97%
Average Missouri Tax Rate
1.20%
Average United States Tax Rate
0.99%
Property Tax Rates Across Leonard, Missouri
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 63451 | 0.81% | 0.81% | 0.81% | 0.81% | 0.81% |
Source: Ownwell
Property Tax Assessment Values Across Leonard, Missouri
In Leonard, 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 Macon 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 Leonard, 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 Leonard is $110,329, and understanding these valuation concepts helps property owners navigate their tax responsibilities. The highest and lowest median tax bills are both $891, found in the 63451 zip code. By being aware of these valuation processes, property owners can identify opportunities for protesting assessments or applying for exemptions to effectively manage their tax burden.
Average Leonard Assessed Value
$110,329
Average Macon County Assessed Value
$49,737
Average Missouri Assessed Value
$129,505
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Leonard, Missouri
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 63451 | $110,329 | $110,329 | $110,329 | $110,329 | $110,329 |
Source: Ownwell
Property Tax Bills Across Leonard, Missouri
In Leonard, located in Macon County, MO, property tax bills are calculated based on the assessed value of a home. The assessed value is a percentage of the market value, which is then multiplied by the local tax rate. For Leonard, the median home price stands at $110,329. With the national median property tax rate at 0.99%, homeowners in Leonard experience property tax bills around $891, consistently across various percentiles. Several factors are considered when determining the tax bill, including the property's market value, assessment ratio, and the local tax rate set by the county. This uniformity in tax bills provides predictability for homeowners, allowing them to budget more effectively. Compared to the national median tax rate, Leonard's property tax rate is relatively straightforward, ensuring that homeowners face a steady financial obligation. This consistency in tax bills can be particularly beneficial for long-term financial planning and stability.
Average Leonard Tax Bill
$891
Average Macon County Tax Bill
$506
Average Missouri Tax Bill
$1,606
Average United States Tax Bill
$2,690
Property Tax Bills Across Leonard, Missouri
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 63451 | $891 | $891 | $891 | $891 | $891 |
Source: Ownwell