Linn, Missouri Property Taxes
The median property tax rate in Linn, MO is 0.95%, slightly below the national median of 0.99% and significantly lower than Missouri's state median of 1.20%. With the median home value in Linn at $38,675, the typical annual property tax bill is $326, which is well below the national median of $2,690. Property taxes in Linn are calculated based on the tax assessed value, which often falls below the market value due to various exemptions such as the primary residence and agricultural exemptions. Understanding Linn'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 Linn 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
Linn, Missouri Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.95%
Estimate Property Tax Bill
$367
Ownwell’s Linn Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Linn with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Linn 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 Linn, Missouri
Property taxes in Linn, Missouri, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Linn is 0.95%, slightly below the U.S. national median of 0.99%. Local government entities within Linn set these rates annually, and they can vary significantly across different neighborhoods. Each year, Linn 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 Linn's effective property tax rate to other counties in Missouri and the national median. For comparison, the zip code 65051 has both the highest and lowest median property tax rate of 0.95%, identical to Linn's rate. Understanding how these cities compare with Linn provides valuable insights into the varying tax landscape across Osage County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Linn Tax Rate
0.95%
Average Osage County Tax Rate
0.86%
Average Missouri Tax Rate
1.20%
Average United States Tax Rate
0.99%
Property Tax Rates Across Linn, Missouri
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 65051 | 0.63% | 0.80% | 0.95% | 0.96% | 1.13% |
Source: Ownwell
Property Tax Assessment Values Across Linn, Missouri
In Linn, 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 Osage 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 Linn, 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 Linn helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. Notably, the zip code with the highest median tax bill is 65051, with a median of $326, while the lowest is also 65051, reflecting the same median value.
Average Linn Assessed Value
$38,675
Average Osage County Assessed Value
$30,816
Average Missouri Assessed Value
$129,505
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Linn, Missouri
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 65051 | $12,554 | $21,599 | $38,675 | $89,587 | $178,985 |
Source: Ownwell
Property Tax Bills Across Linn, Missouri
In Linn, located in Osage County, MO, 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 Linn is $38,675. Tax authorities then apply the local tax rate to this assessed value to determine the annual property tax bill. For example, the median property tax bill in Linn is $326, which is calculated from the assessed home values and local tax rates. Various factors influence the tax bill, including property location, market conditions, and any applicable exemptions. Homeowners in Linn might see their tax bills fall within different percentiles; the 25th percentile tax bill is $181, while the 75th percentile reaches $765, and the 90th percentile can be as high as $1,702. These property taxes support essential public services like schools, infrastructure, and emergency services, directly impacting community well-being. Understanding these factors helps homeowners anticipate and manage their annual property tax obligations effectively.
Average Linn Tax Bill
$326
Average Osage County Tax Bill
$261
Average Missouri Tax Bill
$1,606
Average United States Tax Bill
$2,690
Property Tax Bills Across Linn, Missouri
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 65051 | $107 | $181 | $326 | $765 | $1,702 |
Source: Ownwell