Lampe, Missouri Property Taxes
The median property tax rate in Lampe, MO is 0.86%, 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 Lampe at $69,400, the typical annual property tax bill amounts to $603, significantly below the national median of $2,690. Property taxes in Lampe are determined based on the tax assessed value, which is often less than the market value due to various exemptions such as those for primary residences and agricultural properties. By understanding Lampe's property tax system, exploring available exemptions, and identifying opportunities for reductions, homeowners can achieve considerable annual savings. Whether you're in the heart of Lampe or another part of Stone County, comprehending the local property tax structure will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Lampe, Missouri Property Tax Bill Calculator
$100,000
$2,500,000
$5,000,000
Average Tax Rate
1.2%
Estimate Property Tax Bill
$2,400
Ownwell’s Lampe Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Lampe with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Lampe 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 Lampe, Missouri
Property taxes in Lampe, Missouri, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Lampe is 0.86%, which is lower than the U.S. national median of 0.99%. Local government entities within Lampe set these rates annually, and they can vary significantly across different neighborhoods. Each year, Lampe 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 Lampe's effective property tax rate to other areas in Stone County and the national median. For comparison, the 65681 zip code has a median property tax rate of 0.86%, consistent with the rate in Lampe. Understanding how these areas compare with Lampe provides valuable insights into the varying tax landscape across Stone County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Lampe Tax Rate
0.86%
Average Stone County Tax Rate
0.93%
Average Missouri Tax Rate
1.20%
Average United States Tax Rate
0.99%
Property Tax Rates Across Lampe, Missouri
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 65681 | 0.86% | 0.86% | 0.86% | 0.86% | 0.86% |
Source: Ownwell
Property Tax Assessment Values Across Lampe, Missouri
In Lampe, 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 Stone 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 Lampe, 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 Lampe helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. Interestingly, the zip code 65681 has both the highest and lowest median tax bill at $603.
Average Lampe Assessed Value
$69,400
Average Stone County Assessed Value
$50,150
Average Missouri Assessed Value
$129,505
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Lampe, Missouri
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 65681 | $9,320 | $29,750 | $69,400 | $135,350 | $262,960 |
Source: Ownwell
Property Tax Bills Across Lampe, Missouri
In Lampe, located in Stone County, MO, property tax bills are calculated based on the assessed value of a home, which is a percentage of the property's market value. The median home price in Lampe is $69,400. Local tax authorities then apply the property tax rate to this assessed value to determine the annual tax bill. For instance, if the assessed value is set at a certain percentage of the market value, homeowners can expect varying tax bills depending on their property's assessed value. Factors influencing the tax bill include the property's assessed value, local tax rates, and applicable exemptions. For example, the 25th percentile tax bill in Lampe is $261, while the 75th percentile tax bill is $1,163, and the 90th percentile tax bill reaches $2,295. These variations highlight how different properties can face significantly different tax burdens. Homeowners must understand these factors as they directly impact their annual financial obligations, potentially influencing decisions on property investments and homeownership.
Average Lampe Tax Bill
$603
Average Stone County Tax Bill
$460
Average Missouri Tax Bill
$1,606
Average United States Tax Bill
$2,690
Property Tax Bills Across Lampe, Missouri
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 65681 | $80 | $261 | $603 | $1,163 | $2,295 |
Source: Ownwell