Lees Summit, Missouri Property Taxes
The median property tax rate in Lees Summit, MO is 1.35%, considerably higher than both the national median of 0.99% and the Missouri state median of 1.20%. With the median home value in Lees Summit at $285,140, the typical annual property tax bill reaches $3,885, exceeding the national median of $2,690. Property taxes in Lees Summit 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 Lees Summit'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 Lees Summit 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
Lees Summit, 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 Lees Summit Property Tax Bill Calculator empowers homeowners, real estate investors, and potential buyers to estimate their annual property taxes in Lees Summit with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Lees Summit to estimate your property tax bill. This insightful tool helps you understand potential tax liabilities. For those interested in neighborhood-level trends, additional localized information is available below. 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 Lees Summit, Missouri
Property taxes in Lees Summit, Missouri, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Lees Summit is 1.35%, significantly higher than both the Missouri state median and the U.S. national median of 0.99%. Local government entities within Lees Summit set these rates annually, and they can vary significantly across different neighborhoods. Each year, Lees Summit 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 Lees Summit's effective property tax rate to other counties in Missouri and the national median. For comparison, the 64082 zip code has the highest median property tax rate of 1.35%, while the same 64082 zip code also has the lowest median tax rate of 1.35%. Understanding how these cities compare with Lees Summit provides valuable insights into the varying tax landscape across Cass County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Lees Summit Tax Rate
1.35%
Average Cass County Tax Rate
1.46%
Average Missouri Tax Rate
1.20%
Average United States Tax Rate
0.99%
Property Tax Rates Across Lees Summit, Missouri
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 64082 | 1.35% | 1.35% | 1.35% | 1.35% | 1.35% |
| 64083 | N/A | N/A | N/A | N/A | N/A |
Source: Ownwell
Property Tax Assessment Values Across Lees Summit, Missouri
In Lees Summit, 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 Cass 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 Lees Summit, 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 Lees Summit helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The zip code 64082 stands out with the highest and lowest median tax bill, both at $3,908.
Average Lees Summit Assessed Value
$285,140
Average Cass County Assessed Value
$149,060
Average Missouri Assessed Value
$129,505
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Lees Summit, Missouri
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 64082 | $213,222 | $242,110 | $288,950 | $362,510 | $443,361 |
| 64083 | N/A | N/A | N/A | N/A | N/A |
Source: Ownwell
Property Tax Bills Across Lees Summit, Missouri
In Lees Summit, located in Cass County, MO, property tax bills are calculated based on the assessed value of a home, which is determined by the county assessor. The assessed value is a percentage of the property's market value. Homeowners in Lees Summit can expect their property tax bill to be influenced by several factors, including the assessed value of their home and the local tax rate. For instance, with a median home price of $285,140, the property tax bill can vary significantly. The tax bill at the 25th percentile is $3,259, while at the 75th percentile, it reaches $4,860. For those in the 90th percentile, the tax bill can go up to $6,001. Notably, the highest and lowest median tax bills in the 64082 zip code both stand at $3,908. These property taxes are essential for funding local services such as schools, public safety, and infrastructure. Compared to the national median property tax rate of 0.99%, homeowners in Lees Summit may find their property tax rates to be relatively aligned with national averages, impacting their overall cost of homeownership.
Average Lees Summit Tax Bill
$3,885
Average Cass County Tax Bill
$2,217
Average Missouri Tax Bill
$1,606
Average United States Tax Bill
$2,690
Property Tax Bills Across Lees Summit, Missouri
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 64082 | $2,884 | $3,276 | $3,908 | $4,921 | $6,048 |
| 64083 | N/A | N/A | N/A | N/A | N/A |
Source: Ownwell