Laurie, Missouri Property Taxes
The median property tax rate in Laurie, MO is 0.85%, lower than both the national median of 0.99% and the Missouri state median of 1.20%. With the median home value in Laurie at $72,950, the typical annual property tax bill amounts to $621, significantly below the national median of $2,690. Property taxes in Laurie are calculated based on the tax assessed value, which often falls below the market value due to various exemptions like the primary residence and agricultural exemptions. Understanding Laurie's property tax system, exploring available exemptions, and identifying opportunities for reductions can lead to significant annual savings. Whether you're in the heart of Laurie or another part of Morgan County, understanding the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Laurie, Missouri Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.85%
Estimate Property Tax Bill
$620
Ownwell’s Laurie Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Laurie with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Laurie 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 Laurie, Missouri
Property taxes in Laurie, Missouri, are vital in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Laurie is 0.85%, which is below the U.S. national median of 0.99%. Local government entities within Laurie set these rates annually, and they can vary significantly across different neighborhoods. Each year, Laurie 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 Laurie's effective property tax rate to other counties in Missouri and the national median. For comparison, the 65038 zip code has both the highest and lowest median property tax rate of 0.85%. Understanding how these cities compare with Laurie provides valuable insights into the varying tax landscape across Morgan County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Laurie Tax Rate
0.85%
Average Morgan County Tax Rate
0.87%
Average Missouri Tax Rate
1.20%
Average United States Tax Rate
0.99%
Property Tax Rates Across Laurie, Missouri
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 65038 | 0.85% | 0.85% | 0.85% | 0.85% | 0.85% |
Source: Ownwell
Property Tax Assessment Values Across Laurie, Missouri
In Laurie, 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 Morgan 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 Laurie, 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 example, the median tax bill in Laurie is $621. 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 Laurie helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Laurie Assessed Value
$72,950
Average Morgan County Assessed Value
$49,350
Average Missouri Assessed Value
$129,505
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Laurie, Missouri
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 65038 | $68,990 | $70,475 | $72,950 | $75,425 | $76,910 |
Source: Ownwell
Property Tax Bills Across Laurie, Missouri
In Laurie, located in Morgan County, MO, property tax bills are calculated based on the assessed value of a home, which is determined by the county assessor. The assessed value is a percentage of the property's market value, reflecting its worth in the current real estate market. For homeowners in Laurie, the median home price is $72,950. Property tax rates in the area are applied to this assessed value to determine the annual tax bill. Several factors influence the final tax bill, including the home's location, any applicable exemptions, and the specific tax rate set by local authorities. For instance, tax bills in Laurie range from the 25th percentile at $600 to the 75th percentile at $643, with the 90th percentile reaching up to $655. This means that most homeowners can expect their property tax bills to fall within this range, impacting their annual financial planning. Compared to the national median property tax rate of 0.99%, Laurie's property tax rates offer a relatively affordable option for homeowners.
Average Laurie Tax Bill
$621
Average Morgan County Tax Bill
$420
Average Missouri Tax Bill
$1,606
Average United States Tax Bill
$2,690
Property Tax Bills Across Laurie, Missouri
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 65038 | $588 | $600 | $621 | $643 | $655 |
Source: Ownwell