Gainesville, Missouri Property Taxes
The median property tax rate in Gainesville, MO is 0.66%, significantly lower than both the national median of 0.99% and the Missouri state median of 1.20%. With a median home value of $63,000, the typical annual property tax bill in Gainesville amounts to $430, well below the national median of $2,690. Property taxes in Gainesville are calculated based on the assessed value, generally lower than the market value due to exemptions such as those for primary residences and agricultural properties. Understanding Gainesville'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 Gainesville 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
Gainesville, Missouri Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.66%
Estimate Property Tax Bill
$416
Ownwell’s Gainesville Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Gainesville with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Gainesville 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 Gainesville, Missouri
Property taxes in Gainesville, Missouri, are crucial for funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Gainesville is 0.66%, which is lower than both the Missouri state median and the U.S. national median of 0.99%. Local government entities within Gainesville set these rates annually, and they can vary significantly across different neighborhoods. Each year, Gainesville 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 Gainesville's effective property tax rate to other counties in Missouri and the national median. For comparison, the zip code 65655 has the highest median property tax rate of 0.66%, while the same zip code also has the lowest median tax rate of 0.66%. Understanding how these cities compare with Gainesville provides valuable insights into the varying tax landscape across Ozark County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Gainesville Tax Rate
0.66%
Average Ozark County Tax Rate
0.74%
Average Missouri Tax Rate
1.20%
Average United States Tax Rate
0.99%
Property Tax Rates Across Gainesville, Missouri
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 65655 | 0.61% | 0.64% | 0.66% | 0.74% | 0.74% |
Source: Ownwell
Property Tax Assessment Values Across Gainesville, Missouri
In Gainesville, 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 Ozark 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 Gainesville, 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 Gainesville helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The zip code with the highest median tax bill is 65655, with a median tax bill of $430, which is the same as the lowest median tax bill in the same zip code.
Average Gainesville Assessed Value
$63,000
Average Ozark County Assessed Value
$64,800
Average Missouri Assessed Value
$129,505
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Gainesville, Missouri
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 65655 | $24,300 | $38,150 | $63,000 | $96,900 | $137,740 |
Source: Ownwell
Property Tax Bills Across Gainesville, Missouri
In Gainesville, property tax bills are calculated based on the assessed value of a property, which is a percentage of its market value. The local tax rate is then applied to this assessed value to determine the annual tax bill. Several factors influence this calculation, including the property's location, its market value, and any applicable exemptions or deductions. For homeowners in Gainesville, the median home price is $63,000. Depending on the assessed value, tax bills can vary significantly. For instance, the tax bill at the 25th percentile is $262, while at the 75th percentile, it is $641, and at the 90th percentile, it reaches $913. Comparatively, the highest median tax bill in the area is $430 in the 65655 zip code. These property taxes fund essential local services such as schools, public safety, and infrastructure. Homeowners must budget for these taxes, as they can significantly impact their overall housing costs. Understanding how property tax bills are calculated helps homeowners anticipate their financial obligations and plan accordingly.
Average Gainesville Tax Bill
$430
Average Ozark County Tax Bill
$481
Average Missouri Tax Bill
$1,606
Average United States Tax Bill
$2,690
Property Tax Bills Across Gainesville, Missouri
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 65655 | $164 | $262 | $430 | $641 | $913 |
Source: Ownwell