Lehi, Missouri Property Taxes
The median property tax rate in Lehi, MO is 0.83%, which is notably lower than both the national median of 0.99% and the Missouri state median of 1.20%. With the median home value in Lehi, the typical annual property tax bill amounts to $54, significantly below the national median of $2,690. Property taxes in Lehi 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 Lehi'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 Lehi 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
Lehi, Missouri Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.83%
Estimate Property Tax Bill
$54
Ownwell’s Lehi Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Lehi with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Lehi 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 Lehi, Missouri
Property taxes in Lehi, Missouri, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Lehi is 0.83%, which is lower than both the Missouri state median and the U.S. national median of 0.99%. Local government entities within Lehi set these rates annually, and they can vary significantly across different neighborhoods. Each year, Lehi 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 Lehi's effective property tax rate to other counties in Missouri and the national median. For comparison, some areas within Missouri have higher or lower property tax rates. Understanding how these cities compare with Lehi 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 Lehi Tax Rate
0.83%
Average Morgan County Tax Rate
0.87%
Average Missouri Tax Rate
1.20%
Average United States Tax Rate
0.99%
Property Tax Rates Across Lehi, Missouri
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|
Source: Ownwell
Property Tax Assessment Values Across Lehi, Missouri
In Lehi, 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 Lehi, 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, the highest tax bills in the area are found in the zip code with a median home price of $6,500, while the lowest tax bills are also in the same range. 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 Lehi helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Lehi Assessed Value
$6,500
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 Lehi, Missouri
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|
Source: Ownwell
Property Tax Bills Across Lehi, Missouri
In Lehi, located in Morgan County, MO, property tax bills are calculated based on the assessed value of the property and the local tax rate. The assessed value is determined by the county assessor and typically represents a percentage of the property's market value. The local tax rate, which is applied to the assessed value, is set by various taxing authorities, including school districts, municipalities, and other local government entities. For homeowners in Lehi, the median home price is $6,500, which is significantly lower than the national median. Consequently, the property tax bills are relatively modest. For instance, the tax bill at the 25th, 75th, and 90th percentiles is consistently $54. This uniformity suggests a stable and predictable tax environment for residents. The property tax rate in Morgan County is crucial as it impacts the overall cost of homeownership. Lower property taxes can make housing more affordable, encouraging homeownership and potentially increasing property values over time. Understanding these factors helps homeowners plan and budget more effectively.
Average Lehi Tax Bill
$54
Average Morgan County Tax Bill
$420
Average Missouri Tax Bill
$1,606
Average United States Tax Bill
$2,690
Property Tax Bills Across Lehi, Missouri
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|
Source: Ownwell