Lake Ozark, Missouri Property Taxes
The median property tax rate in Lake Ozark, MO is 1.02%, slightly above the national median of 0.99% but below Missouri's state median of 1.20%. With a median home value of $96,737 in Lake Ozark, the typical annual property tax bill amounts to $982, which is significantly lower than the national median of $2,690. Property taxes in Lake Ozark are calculated based on the assessed value, which is often less than the market value due to exemptions such as those for primary residences and agricultural properties. Navigating Lake Ozark's property tax system, exploring available exemptions, and identifying opportunities for reductions can lead to substantial annual savings. Whether you're in the heart of Lake Ozark or another part of Camden County, understanding the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Lake Ozark, 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 Lake Ozark Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Lake Ozark with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Lake Ozark 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 Lake Ozark, Missouri
Property taxes in Lake Ozark, Missouri, are vital in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Lake Ozark is 1.02%, higher than both the Missouri state median and the U.S. national median of 0.99%. Local government entities within Lake Ozark set these rates annually, and they can vary significantly across different neighborhoods. Each year, Lake Ozark 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 Lake Ozark's effective property tax rate to other counties in Missouri and the national median. For comparison, the 65049 zip code has the highest median property tax rate of 1.02%, while the 65049 zip code has the lowest median tax rate of 1.02%. Understanding how these cities compare with Lake Ozark provides valuable insights into the varying tax landscape across Camden County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Lake Ozark Tax Rate
1.02%
Average Camden County Tax Rate
0.84%
Average Missouri Tax Rate
1.20%
Average United States Tax Rate
0.99%
Property Tax Rates Across Lake Ozark, Missouri
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 65049 | 1.02% | 1.02% | 1.02% | 1.02% | 1.02% |
Source: Ownwell
Property Tax Assessment Values Across Lake Ozark, Missouri
In Lake Ozark, 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 Camden 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 Lake Ozark, 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. For instance, the highest and lowest median tax bills in the 65049 zip code are both $982. Being aware of these valuation processes helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Lake Ozark Assessed Value
$96,737
Average Camden County Assessed Value
$77,579
Average Missouri Assessed Value
$129,505
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Lake Ozark, Missouri
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 65049 | $3,316 | $8,579 | $96,737 | $167,789 | $296,526 |
Source: Ownwell
Property Tax Bills Across Lake Ozark, Missouri
In Lake Ozark, Camden 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 Lake Ozark is $96,737. Homeowners in this area see a wide range of property tax bills, with the 25th percentile at $85 and the 75th percentile at $1,701. At the 90th percentile, property tax bills can reach up to $2,976. The highest median tax bill in the area is $982, which is consistent across the 65049 zip code. Several factors influence the property tax bill, including the assessed value of the property, local tax rates, and any applicable exemptions. For homeowners, these property taxes fund essential public services such as schools, infrastructure, and emergency services. Understanding how these elements interact can help homeowners anticipate their annual tax obligations and plan their finances accordingly. Compared to the national median property tax rate of 0.99%, Lake Ozark offers relatively affordable property tax rates, making it an attractive area for potential homeowners.
Average Lake Ozark Tax Bill
$982
Average Camden County Tax Bill
$645
Average Missouri Tax Bill
$1,606
Average United States Tax Bill
$2,690
Property Tax Bills Across Lake Ozark, Missouri
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 65049 | $34 | $85 | $982 | $1,701 | $2,976 |
Source: Ownwell