Polo, Caldwell County, Missouri Property Taxes
The median property tax rate in Polo, MO is 1.16%, slightly higher than the national median of 0.99% but lower than the Missouri state median of 1.20%. With the median home value in Polo at $55,920, the typical annual property tax bill amounts to $673, which is below the national median of $2,690. Property taxes in Polo are calculated based on the tax assessed value, often lower than the market value due to exemptions like primary residence and agricultural exemptions. Understanding Polo'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 Polo or another part of Caldwell County, comprehending the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Polo, Caldwell County, Missouri Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.16%
Estimate Property Tax Bill
$649
$602
Ownwell’s Polo Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Polo with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Polo 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 Polo, Caldwell County, Missouri
Property taxes in Polo, Missouri, are essential for funding crucial local services such as public schools, road maintenance, and emergency services. The median tax rate in Polo is 1.16%, higher than both the Missouri state median of 0.91% and the U.S. national median of 0.99%. Local government entities within Polo set these rates annually, and they can vary significantly across different neighborhoods. Each year, Polo 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 Polo's effective property tax rate to other counties in Missouri and the national median. For comparison, the 64671 zip code has the highest median property tax rate of 1.16%, while the same zip code also has the lowest median tax rate of 1.16%. Understanding how these cities compare with Polo provides valuable insights into the varying tax landscape across Caldwell County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Polo Tax Rate
1.16%
Average Caldwell County Tax Rate
1.16%
Average Missouri Tax Rate
1.20%
Average United States Tax Rate
0.99%
Property Tax Rates Across Polo, Caldwell County, Missouri
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 64671 | 0.96% | 1.09% | 1.16% | 1.22% | 1.32% |
Source: Ownwell
Property Tax Assessment Values Across Polo, Caldwell County, Missouri
In Polo, 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 Caldwell 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 Polo, 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 Polo helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The highest median tax bill in Polo is $673 in the 64671 zip code, while the lowest median tax bill is also $673 in the same zip code.
Property Tax Assessment Values Across Polo, Caldwell County, Missouri
Source: Ownwell
$44,235
$107,110
$169,985
Average Polo Assessed Value
$55,920
Average Caldwell County Assessed Value
$73,285
Average Missouri Assessed Value
$129,505
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Polo, Caldwell County, Missouri
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 64671 | $2,000 | $6,740 | $55,920 | $109,980 | $187,182 |
Source: Ownwell
Property Tax Bills Across Polo, Caldwell County, Missouri
Property tax bills in Polo, Caldwell County, MO, are determined by assessing the market value of a property and applying the local tax rate. The assessed value is a percentage of the market value, which is then multiplied by the tax rate set by local taxing authorities. Various factors influence the tax bill, including property size, location, and any applicable exemptions or abatements. For Polo homeowners, understanding the range of tax bills can be enlightening. The median home price is $55,920, with tax bills varying significantly across different percentiles. At the 25th percentile, homeowners might see a tax bill as low as $79, while those at the 75th percentile could face a tax bill of $1,213. At the 90th percentile, the tax bill can go up to $2,065. These figures highlight the variability in property tax bills due to differences in property values and local tax rates. Homeowners in Polo need to be aware of these factors to better manage their financial planning and ensure they are paying a fair amount relative to their property's assessed value.
Average Polo Tax Bill
$673
Average Caldwell County Tax Bill
$850
Average Missouri Tax Bill
$1,606
Average United States Tax Bill
$2,690
Property Tax Bills Across Polo, Caldwell County, Missouri
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 64671 | $24 | $79 | $673 | $1,213 | $2,065 |
Source: Ownwell