Spring Mills, Missouri Property Taxes
The median property tax rate in Spring Mills, 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 $41,660 in Spring Mills, the typical annual property tax bill is $391, well below the national median of $2,690. Property taxes in Spring Mills are calculated based on the assessed value, which often falls below the market value due to various exemptions, such as primary residence and agricultural exemptions. Understanding Spring Mills' property tax system, exploring available exemptions, and identifying opportunities for reductions can lead to significant annual savings. Whether you're in the heart of Spring Mills 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
Spring Mills, 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 SPRING MILLS Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in SPRING MILLS with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in SPRING MILLS 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 Spring Mills, Missouri
Property taxes in Spring Mills, Missouri, are vital in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Spring Mills is 0.94%, slightly lower than the U.S. national median of 0.99%. Local government entities within Spring Mills set these rates annually, and they can vary significantly across different neighborhoods. Each year, Spring Mills 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 Spring Mills' effective property tax rate to other counties in Missouri and the national median. For comparison, the 16875 zip code has the highest median property tax rate of 0.94%, while the same 16875 zip code also has the lowest median tax rate of 0.94%. Understanding how these cities compare with Spring Mills provides valuable insights into the varying tax landscape across Taney County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Spring Mills Tax Rate
0.94%
Average Taney County Tax Rate
0.97%
Average Missouri Tax Rate
1.20%
Average United States Tax Rate
0.99%
Property Tax Rates Across Spring Mills, Missouri
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 16875 | 0.94% | 0.94% | 0.94% | 0.94% | 0.94% |
Source: Ownwell
Property Tax Assessment Values Across Spring Mills, Missouri
In Spring Mills, 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 Taney 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 Spring Mills, 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 Spring Mills is $41,660, with property tax bills ranging around $391. The highest and lowest median tax bills are both found in the 16875 zip code, each at $391. 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 Spring Mills helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Spring Mills Assessed Value
$41,660
Average Taney County Assessed Value
$44,055
Average Missouri Assessed Value
$129,505
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Spring Mills, Missouri
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 16875 | $41,660 | $41,660 | $41,660 | $41,660 | $41,660 |
Source: Ownwell
Property Tax Bills Across Spring Mills, Missouri
Property tax bills in Spring Mills, located in Taney County, MO, are calculated based on the assessed value of a property. This assessed value is typically a percentage of the property's market value, which is determined by the local assessor's office. In Spring Mills, the median home price is $41,660. The property tax rate is applied to this assessed value to determine the annual tax bill. For homeowners in Spring Mills, the tax bill tends to be quite uniform, with the 25th, 75th, and 90th percentiles all reporting a tax bill of $391. This uniformity suggests a relatively stable tax environment compared to the national median property tax rate of 0.99%. Factors such as property improvements, location, and market trends can influence the assessed value, thereby impacting the tax bill. For homeowners, understanding these factors is crucial as they directly affect the annual financial obligation associated with property ownership. Keeping abreast of local property tax trends can help homeowners anticipate changes in their tax bills and budget accordingly.
Average Spring Mills Tax Bill
$391
Average Taney County Tax Bill
$449
Average Missouri Tax Bill
$1,606
Average United States Tax Bill
$2,690
Property Tax Bills Across Spring Mills, Missouri
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 16875 | $391 | $391 | $391 | $391 | $391 |
Source: Ownwell