Sarcoxie, Missouri Property Taxes
The median property tax rate in Sarcoxie, MO is 0.88%, 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 $87,600 in Sarcoxie, the typical annual property tax bill is $784, significantly below the national median of $2,690. Property taxes in Sarcoxie are calculated based on the assessed value, which is often less than the market value due to exemptions like those for primary residences and agricultural properties. Understanding Sarcoxie'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 Sarcoxie or another part of Newton County, a keen understanding of the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Sarcoxie, Missouri Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.88%
Estimate Property Tax Bill
$771
Ownwell’s Sarcoxie Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Sarcoxie with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Sarcoxie 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 Sarcoxie, Missouri
Property taxes in Sarcoxie, Missouri, are vital in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Sarcoxie is 0.88%, lower than both the Missouri state median and the U.S. national median of 0.99%. Local government entities within Sarcoxie set these rates annually, and they can vary significantly across different neighborhoods. Each year, Sarcoxie 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 Sarcoxie's effective property tax rate to other counties in Missouri and the national median. For comparison, the 64862 zip code has the highest median property tax rate of 0.88%, while the 64862 zip code also has the lowest median tax rate of 0.88%. Understanding how these cities compare with Sarcoxie provides valuable insights into the varying tax landscape across Newton County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Sarcoxie Tax Rate
0.88%
Average Newton County Tax Rate
1.09%
Average Missouri Tax Rate
1.20%
Average United States Tax Rate
0.99%
Property Tax Rates Across Sarcoxie, Missouri
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 64862 | 0.83% | 0.83% | 0.88% | 1.06% | 1.12% |
Source: Ownwell
Property Tax Assessment Values Across Sarcoxie, Missouri
In Sarcoxie, 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 Newton 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 Sarcoxie, 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 Sarcoxie helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The highest and lowest median tax bill in the area is $784.00, both found in zip code 64862.
Average Sarcoxie Assessed Value
$87,600
Average Newton County Assessed Value
$71,800
Average Missouri Assessed Value
$129,505
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Sarcoxie, Missouri
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 64862 | $29,690 | $44,500 | $87,600 | $111,300 | $168,760 |
Source: Ownwell
Property Tax Bills Across Sarcoxie, Missouri
In Sarcoxie, located in Newton County, MO, property tax bills are calculated based on the assessed value of a property, which is a percentage of its market value. For homeowners, the median home price stands at $87,600. Local assessors evaluate properties to determine their assessed value, applying a specific assessment ratio set by the county. This assessed value is then multiplied by the local tax rate to calculate the annual tax bill. Several factors influence the final tax bill, including property size, location, and any applicable exemptions. In Sarcoxie, the tax bill can vary significantly. For instance, at the 25th percentile, homeowners pay around $460, while those at the 75th percentile face bills of approximately $1,136. The highest median tax bill in the area is $784, which is consistent across zip code 64862. Understanding these calculations helps homeowners anticipate their annual tax obligations and plan their finances accordingly. Compared to the national median property tax rate of 0.99%, Sarcoxie’s rates offer a relatively affordable option for property owners.
Average Sarcoxie Tax Bill
$784
Average Newton County Tax Bill
$791
Average Missouri Tax Bill
$1,606
Average United States Tax Bill
$2,690
Property Tax Bills Across Sarcoxie, Missouri
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 64862 | $317 | $460 | $784 | $1,136 | $1,395 |
Source: Ownwell