Reeds Spring, Missouri Property Taxes
The median property tax rate in Reeds Spring, MO is 0.93%, which is lower than both the national median of 0.99% and Missouri’s state median of 1.20%. With a median home value of $92,250 in Reeds Spring, the typical annual property tax bill amounts to $860, significantly below the national median of $2,690. Property taxes in Reeds Spring are calculated based on the tax assessed value, which is generally lower than the market value due to various exemptions, including those for primary residences and agricultural properties. Understanding Reeds Spring'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 Reeds Spring 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
Reeds Spring, 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 Reeds Spring Property Tax Bill Calculator assists homeowners, real estate investors, and prospective buyers in estimating their annual property taxes in Reeds Spring with just two data points. By entering your property's estimated assessed value, the calculator uses the median tax rate in Reeds Spring to provide an estimated property tax bill. This valuable tool helps you gauge potential tax liabilities effectively. For those interested in exploring trends at a neighborhood level, more localized information is available below. Your property’s assessed value is determined by the county for property tax purposes, taking into consideration any applicable exemptions.
Property Tax Rates Across Reeds Spring, Missouri
Property taxes in Reeds Spring, Missouri, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Reeds Spring is 0.93%, slightly lower than the U.S. national median of 0.99%. Local government entities within Reeds Spring set these rates annually, and they can vary significantly across different neighborhoods. Each year, Reeds Spring 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 Reeds Spring's effective property tax rate to other areas in Missouri and the national median. For comparison, the 65737 zip code has the highest median property tax rate of 0.93%, while the same zip code also has the lowest median tax rate of 0.93%. Understanding how these areas compare with Reeds Spring 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 Reeds Spring Tax Rate
0.93%
Average Stone County Tax Rate
0.93%
Average Missouri Tax Rate
1.20%
Average United States Tax Rate
0.99%
Property Tax Rates Across Reeds Spring, Missouri
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 65737 | 0.93% | 0.93% | 0.93% | 0.93% | 0.93% |
Source: Ownwell
Property Tax Assessment Values Across Reeds Spring, Missouri
Understanding the difference between "market value" and "assessed value" is crucial for comprehending property taxes in Reeds Spring, Missouri. 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 Reeds Spring, 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. The median home price in Reeds Spring is $92,250, with annual tax bills ranging from $404 at the 25th percentile to $2,476 at the 90th percentile. The highest and lowest median tax bills are both $860 in the 65737 zip code. By understanding 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 helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Reeds Spring Assessed Value
$92,250
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 Reeds Spring, Missouri
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 65737 | $15,900 | $43,400 | $92,250 | $156,475 | $257,727 |
Source: Ownwell
Property Tax Bills Across Reeds Spring, Missouri
In Reeds Spring, located in Stone 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 Reeds Spring is $92,250. Property tax rates in the area are determined by local taxing authorities and can vary, but the national median property tax rate is 0.99%. Several factors influence the final tax bill, including the assessed value of the home, local tax rates, and any applicable exemptions. For example, the 25th percentile tax bill in Reeds Spring is $404, while the 75th percentile tax bill is $1,585. Homeowners in the 90th percentile could see tax bills as high as $2,476. These property taxes contribute to funding essential public services such as schools, infrastructure, and emergency services. Understanding how these factors interplay can help homeowners better anticipate their annual property tax obligations and manage their finances accordingly.
Average Reeds Spring Tax Bill
$860
Average Stone County Tax Bill
$460
Average Missouri Tax Bill
$1,606
Average United States Tax Bill
$2,690
Property Tax Bills Across Reeds Spring, Missouri
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 65737 | $147 | $404 | $860 | $1,585 | $2,476 |
Source: Ownwell