Jerico Springs, Missouri Property Taxes
The median property tax rate in Jerico Springs, MO is 0.75%, which is notably lower than both the national median of 0.99% and the Missouri state median of 1.20%. With the median home value in Jerico Springs at $48,595, the typical annual property tax bill amounts to $311, significantly below the national median of $2,690. Property taxes in Jerico Springs are calculated based on the tax assessed value, which often falls below the market value due to various exemptions like the primary residence and agricultural exemptions. Understanding Jerico Springs' property tax system, exploring available exemptions, and identifying opportunities for reductions can lead to significant annual savings. Whether you're in the heart of Jerico Springs 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
Jerico Springs, Missouri Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.75%
Estimate Property Tax Bill
$364
Ownwell’s Jerico Springs Property Tax Bill Calculator is an essential tool for homeowners, real estate investors, and potential buyers to estimate their annual property taxes in Jerico Springs with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Jerico Springs 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 Jerico Springs, Missouri
Property taxes in Jerico Springs, Missouri, are essential for funding crucial local services such as public schools, road maintenance, and emergency services. The median tax rate in Jerico Springs is 0.75%, which is lower than the U.S. national median of 0.99%. Local government entities within Jerico Springs set these rates annually, and they can vary significantly across different neighborhoods. Each year, Jerico Springs 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 Jerico Springs' effective property tax rate to other counties in Missouri and the national median. For comparison, the 64756 zip code has the highest median property tax rate of 0.75%, while the same zip code also has the lowest median tax rate of 0.75%. Understanding how these cities compare with Jerico Springs 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 Jerico Springs Tax Rate
0.75%
Average Cedar County Tax Rate
0.92%
Average Missouri Tax Rate
1.20%
Average United States Tax Rate
0.99%
Property Tax Rates Across Jerico Springs, Missouri
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 64756 | 0.60% | 0.65% | 0.75% | 0.91% | 1.00% |
Source: Ownwell
Property Tax Assessment Values Across Jerico Springs, Missouri
In Jerico Springs, 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 Cedar County Assessor's Office 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 Jerico Springs, 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 Jerico Springs helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The median home price in Jerico Springs is $48,595, with the highest median tax bill in the 64756 zip code at $311.00.
Average Jerico Springs Assessed Value
$48,595
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 Jerico Springs, Missouri
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 64756 | $4,086 | $8,975 | $48,595 | $91,398 | $199,974 |
Source: Ownwell
Property Tax Bills Across Jerico Springs, Missouri
In Jerico Springs, Cedar County, MO, property tax bills are calculated based on the assessed value of a home, which is a percentage of its market value. The assessed value is then multiplied by the local tax rate to determine the annual tax bill. For example, the median home price in Jerico Springs is $48,595. Property tax bills can vary significantly, with the 25th percentile paying around $86 and the 75th percentile paying approximately $663. At the higher end, the 90th percentile sees tax bills reaching up to $1,673. Several factors influence the tax bill, including the home's assessed value, local tax rates, and any applicable exemptions or deductions. Homeowners in Jerico Springs should be aware that even small changes in assessed value or tax rates can significantly impact their annual tax obligations. Compared to the national median property tax rate of 0.99%, Jerico Springs offers a relatively affordable tax environment, making it an attractive option for homeowners looking to manage their tax expenses effectively.
Average Jerico Springs Tax Bill
$311
Average Cedar County Tax Bill
$344
Average Missouri Tax Bill
$1,606
Average United States Tax Bill
$2,690
Property Tax Bills Across Jerico Springs, Missouri
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 64756 | $56 | $86 | $311 | $663 | $1,673 |
Source: Ownwell