Aldrich, Missouri Property Taxes
The median property tax rate in Aldrich, MO is 0.94%, slightly below the national median of 0.99% and significantly lower than the Missouri state median of 1.20%. With a median home value of $31,057 in Aldrich, the typical annual property tax bill amounts to $314, which is considerably less than the national median of $2,690. Property taxes in Aldrich are calculated based on the assessed value, which is often lower than the market value due to exemptions such as primary residence and agricultural exemptions. By understanding Aldrich's property tax system, exploring available exemptions, and identifying opportunities for reductions, homeowners and real estate investors can achieve substantial annual savings. Whether residing in the heart of Aldrich or other parts of the city, a thorough grasp of the local property tax system is essential for maximizing financial benefits.
Last Updated June 14, 2024
Aldrich, Missouri Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.94%
Estimate Property Tax Bill
$292
Ownwell’s Aldrich Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Aldrich with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Aldrich 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 Aldrich, Missouri
Property taxes in Aldrich, Missouri, are vital in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Aldrich is 0.94%, which is slightly lower than the U.S. national median of 0.99%. Local government entities within Aldrich set these rates annually, and they can vary significantly across different neighborhoods. Each year, Aldrich 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 Aldrich's effective property tax rate to other counties in Missouri and the national median. For comparison, the 65601 zip code has the highest median property tax rate of 0.94%, while the same zip code also has the lowest median tax rate of 0.94%. Understanding how these cities compare with Aldrich provides valuable insights into the varying tax landscape across Polk County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Aldrich Tax Rate
0.94%
Average Polk County Tax Rate
0.91%
Average Missouri Tax Rate
1.20%
Average United States Tax Rate
0.99%
Property Tax Rates Across Aldrich, Missouri
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 65601 | 0.74% | 0.86% | 0.94% | 1.03% | 1.04% |
Source: Ownwell
Property Tax Assessment Values Across Aldrich, Missouri
In Aldrich, 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 Polk County Assessor 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 Aldrich, 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. For example, the highest median tax bill in Polk County is $314 in zip code 65601, while the lowest is also $314 in the same zip code. Being aware of these valuation processes helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Aldrich Assessed Value
$31,057
Average Polk County Assessed Value
$49,465
Average Missouri Assessed Value
$129,505
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Aldrich, Missouri
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 65601 | $4,352 | $16,816 | $31,057 | $70,677 | $113,141 |
Source: Ownwell
Property Tax Bills Across Aldrich, Missouri
In Aldrich, located in Polk County, MO, property tax bills are calculated based on the assessed value of a home. This assessed value is a percentage of the property's market value, determined by local tax authorities. Homeowners in Aldrich experience a range of tax bills, with the 25th percentile at $176 and the 75th percentile reaching $620. At the 90th percentile, tax bills can go up to $1034. The median home price in Aldrich is $31,057, which is significantly lower than the national median, making property taxes relatively affordable in comparison to other regions. Several factors influence the tax bill, including the assessed value of the property, local tax rates, and any applicable exemptions or deductions. These taxes fund essential public services such as schools, emergency services, and infrastructure maintenance. While the highest and lowest median tax bills in the area are both $314, homeowners should be aware that their specific tax obligations can vary based on individual property assessments and local tax policies.
Average Aldrich Tax Bill
$314
Average Polk County Tax Bill
$421
Average Missouri Tax Bill
$1,606
Average United States Tax Bill
$2,690
Property Tax Bills Across Aldrich, Missouri
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 65601 | $100 | $176 | $314 | $620 | $1,034 |
Source: Ownwell