Aldrich, Missouri Property Taxes
The median property tax rate in Aldrich, MO is 1.07%, slightly higher than the national median of 0.99% yet lower than Missouri's state median of 1.20%. With a median home value of $86,120 in Aldrich, the typical annual property tax bill amounts to $924, which is significantly below the national median of $2,690. Property taxes in Aldrich are calculated based on the assessed value, which often falls below market value due to exemptions like those for primary residences and agricultural properties. Understanding Aldrich'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 Aldrich or another part of Cedar County, understanding the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Aldrich, 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 Aldrich Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Aldrich with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Aldrich 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 Aldrich, Missouri
Property taxes in Aldrich, Missouri, are crucial for funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Aldrich is 1.07%, which is higher than the U.S. national median of 0.99%. Local government entities within Aldrich set these rates annually, and they can vary significantly across different neighborhoods. Each year, Aldrich 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 Aldrich's effective property tax rate to other areas in Missouri and the national median. For comparison, the 65601 zip code has the highest median property tax rate of 1.07%, while the same zip code also has the lowest median tax rate of 1.07%. Understanding how these areas compare with Aldrich provides valuable insights into the varying tax landscape across Cedar County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Aldrich Tax Rate
1.07%
Average Cedar County Tax Rate
0.92%
Average Missouri Tax Rate
1.20%
Average United States Tax Rate
0.99%
Property Tax Rates Across Aldrich, Missouri
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 65601 | 1.07% | 1.07% | 1.07% | 1.07% | 1.07% |
Source: Ownwell
Property Tax Assessment Values Across Aldrich, Missouri
Understanding the difference between "market value" and "assessed value" is crucial for comprehending property taxes in Aldrich, Missouri. 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 Cedar 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 in Aldrich 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 Aldrich helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The highest and lowest median tax bills in Aldrich are both $924, found in the zip code 65601, reflecting a consistent tax environment.
Average Aldrich Assessed Value
$86,120
Average Cedar County Assessed Value
$37,145
Average Missouri Assessed Value
$129,505
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Aldrich, Missouri
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 65601 | $86,120 | $86,120 | $86,120 | $86,120 | $86,120 |
Source: Ownwell
Property Tax Bills Across Aldrich, Missouri
Property tax bills in Aldrich, Cedar County, MO, are calculated based on the assessed value of a property, which is a percentage of its market value. For homeowners, the assessed value is determined by the local tax assessor, who evaluates the property’s market value and then applies the state's assessment ratio. In Cedar County, the median home price is $86,120. The property tax rate is applied to this assessed value to determine the annual tax bill. Several factors influence the final tax bill, including property location, improvements or renovations, and changes in the local tax rate. In Aldrich, the median property tax bill is $924, which is considerably higher than the national median property tax rate of 0.99%. This amount can affect homeowners by increasing their annual expenses, making it crucial for them to understand how their property is evaluated and taxed. Homeowners should stay informed about any changes in property assessments or tax rates to manage their financial planning effectively.
Average Aldrich Tax Bill
$924
Average Cedar County Tax Bill
$344
Average Missouri Tax Bill
$1,606
Average United States Tax Bill
$2,690
Property Tax Bills Across Aldrich, Missouri
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 65601 | $924 | $924 | $924 | $924 | $924 |
Source: Ownwell