Spokane, Missouri Property Taxes
The median property tax rate in Spokane, MO is 0.82%, lower than both the national median of 0.99% and the Missouri state median of 1.20%. With the median home value in Spokane, the typical annual property tax bill amounts to $1,214, which is below the national median of $2,690. Property taxes in Spokane 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 Spokane'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 Spokane 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
Spokane, Missouri Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.82%
Estimate Property Tax Bill
$1,207
Ownwell’s Spokane Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Spokane with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Spokane 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 Spokane, Missouri
Property taxes in Spokane, Missouri, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Spokane is 0.82%, which is below the U.S. national median of 0.99%. Local government entities within Spokane set these rates annually, and they can vary significantly across different neighborhoods. Each year, Spokane 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 Spokane's effective property tax rate to other counties in Missouri and the national median. For comparison, the 65754 zip code has both the highest and lowest median property tax rate of 0.82%. Understanding how these cities compare with Spokane provides valuable insights into the varying tax landscape across Christian County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Spokane Tax Rate
0.82%
Average Christian County Tax Rate
1.08%
Average Missouri Tax Rate
1.20%
Average United States Tax Rate
0.99%
Property Tax Rates Across Spokane, Missouri
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 65754 | 0.71% | 0.76% | 0.82% | 0.86% | 0.90% |
Source: Ownwell
Property Tax Assessment Values Across Spokane, Missouri
In Spokane, 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 Christian County Assessment 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 Spokane, 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 Spokane helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The zip code with the highest median tax bill is 65754, valued at $1,214.
Average Spokane Assessed Value
$147,200
Average Christian County Assessed Value
$157,000
Average Missouri Assessed Value
$129,505
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Spokane, Missouri
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 65754 | $69,740 | $112,300 | $147,200 | $194,600 | $251,320 |
Source: Ownwell
Property Tax Bills Across Spokane, Missouri
In Spokane, property tax bills are determined by assessing the market value of a home and applying the local tax rate to that value. The median home price in Spokane is $147,200, and property taxes are calculated based on this assessed value. Several factors influence the final tax bill, including the home's location, its assessed value, and any applicable exemptions or deductions. The tax bill can vary significantly among homeowners. For instance, the 25th percentile tax bill is $858, while the 75th percentile tax bill is $1664. At the higher end, the 90th percentile tax bill reaches $2070. This variation highlights how different factors, such as neighborhood and property characteristics, can impact the amount homeowners owe. For those in the zip code 65754, the median tax bill is $1214, which is the highest in the area. Understanding these factors helps homeowners anticipate their property tax obligations and manage their finances more effectively.
Average Spokane Tax Bill
$1,214
Average Christian County Tax Bill
$1,599
Average Missouri Tax Bill
$1,606
Average United States Tax Bill
$2,690
Property Tax Bills Across Spokane, Missouri
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 65754 | $491 | $858 | $1,214 | $1,664 | $2,070 |
Source: Ownwell