Aurora, Missouri Property Taxes
The median property tax rate in Aurora, MO is 0.85%, which is lower than both the national median of 0.99% and the Missouri state median of 1.20%. With a median home value of $78,950 in Aurora, the typical annual property tax bill is $641, significantly below the national median of $2,690. Property taxes in Aurora are calculated based on the tax assessed value, often lower than the market value due to various exemptions like primary residence and agricultural exemptions. Understanding Aurora'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 Aurora or another part of Barry County, understanding the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Aurora, 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 Aurora Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Aurora with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Aurora 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 Aurora, Missouri
Property taxes in Aurora, Missouri, are vital in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Aurora is 0.85%, which is lower than the U.S. national median of 0.99%. Local government entities within Aurora set these rates annually, and they can vary significantly across different neighborhoods. Each year, Aurora 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 Aurora's effective property tax rate to other counties in Missouri and the national median. For comparison, the 65605 zip code has the highest median property tax rate of 0.85%, while the 65605 zip code also has the lowest median tax rate of 0.85%. Understanding how these cities compare with Aurora provides valuable insights into the varying tax landscape across Barry County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Aurora Tax Rate
0.85%
Average Barry County Tax Rate
0.86%
Average Missouri Tax Rate
1.20%
Average United States Tax Rate
0.99%
Property Tax Rates Across Aurora, Missouri
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 65605 | 0.67% | 0.78% | 0.85% | 0.89% | 0.95% |
Source: Ownwell
Property Tax Assessment Values Across Aurora, Missouri
In Aurora, 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 Barry 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. 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. In Aurora, the median home price is $78,950. The lowest and highest median tax bills are both $641, found in the 65605 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 Aurora Assessed Value
$78,950
Average Barry County Assessed Value
$82,200
Average Missouri Assessed Value
$129,505
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Aurora, Missouri
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 65605 | $30,820 | $49,375 | $78,950 | $127,950 | $180,980 |
Source: Ownwell
Property Tax Bills Across Aurora, Missouri
In Aurora, property tax bills are determined 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 calculate the annual tax bill. For example, with a median home price of $78,950, homeowners can expect their tax bills to vary significantly. The 25th percentile tax bill is around $383, while the 75th percentile reaches up to $1,055, and the 90th percentile can be as high as $1,537. This range illustrates the variability in tax burdens depending on property values and specific assessments. Compared to the national median property tax rate of 0.99%, Aurora's tax bills reflect its unique local rates and property values. Homeowners in Aurora should be aware of these factors, as they directly influence their annual financial obligations and can impact decisions related to property ownership and investment.
Average Aurora Tax Bill
$641
Average Barry County Tax Bill
$696
Average Missouri Tax Bill
$1,606
Average United States Tax Bill
$2,690
Property Tax Bills Across Aurora, Missouri
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 65605 | $205 | $383 | $641 | $1,055 | $1,537 |
Source: Ownwell