Agency, Missouri Property Taxes
The median property tax rate in AGENCY, MO is 1.34%, considerably higher than both the national median of 0.99% and the Missouri state median of 1.20%. With the median home value in AGENCY at $121,095, the typical annual property tax bill reaches $1,598, which is below the national median of $2,690. Property taxes in AGENCY are calculated based on the tax assessed value, which typically falls below the market value due to various exemptions like the primary residence and agricultural exemptions. Understanding AGENCY'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 AGENCY or another part of Buchanan County, understanding the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Agency, 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 AGENCY Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in AGENCY with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in AGENCY 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 Agency, Missouri
Property taxes in AGENCY, Missouri, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in AGENCY is 1.34%, higher than both the Missouri state median of 0.93% and the U.S. national median of 0.99%. Local government entities within AGENCY set these rates annually, and they can vary significantly across different neighborhoods. Each year, AGENCY 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 AGENCY's effective property tax rate to other counties in Missouri and the national median. For comparison, the 64401 zip code has the highest median property tax rate of 1.34%, while the 64401 zip code also has the lowest median tax rate of 1.34%. Understanding how these cities compare with AGENCY provides valuable insights into the varying tax landscape across Buchanan County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Agency Tax Rate
1.34%
Average Buchanan County Tax Rate
1.25%
Average Missouri Tax Rate
1.20%
Average United States Tax Rate
0.99%
Property Tax Rates Across Agency, Missouri
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 64401 | 1.21% | 1.30% | 1.34% | 1.41% | 1.41% |
Source: Ownwell
Property Tax Assessment Values Across Agency, Missouri
In Agency, 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 Buchanan 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 Agency, 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. For instance, the median home price in Agency is $121,095, with tax bills ranging from $1,080 at the 25th percentile to $3,077 at the 90th percentile. 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 Agency helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Agency Assessed Value
$121,095
Average Buchanan County Assessed Value
$72,855
Average Missouri Assessed Value
$129,505
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Agency, Missouri
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 64401 | $49,670 | $82,865 | $121,095 | $162,010 | $234,323 |
Source: Ownwell
Property Tax Bills Across Agency, Missouri
In AGENCY, property tax bills are calculated based on the assessed value of a home, which is a percentage of its market value. For instance, in Buchanan County, the median home price is $121,095. The local tax rate is applied to this assessed value to determine the annual property tax bill. Various factors influence the tax bill, including the property's location, size, and any applicable exemptions. Homeowners in AGENCY can expect tax bills to vary significantly. For example, the tax bill at the 25th percentile is $1,080, while at the 75th percentile, it rises to $2,164. At the 90th percentile, it can reach as high as $3,077. These variations highlight the impact of property characteristics and exemptions on the final tax amount. The highest and lowest median tax bills in Buchanan County both stand at $1,598, indicating some consistency in property tax rates within the zip code 64401. Understanding these factors helps homeowners anticipate their tax liabilities and manage their finances more effectively.
Average Agency Tax Bill
$1,598
Average Buchanan County Tax Bill
$904
Average Missouri Tax Bill
$1,606
Average United States Tax Bill
$2,690
Property Tax Bills Across Agency, Missouri
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 64401 | $633 | $1,080 | $1,598 | $2,164 | $3,077 |
Source: Ownwell