Walnut Grove, Missouri Property Taxes
The median property tax rate in Walnut Grove, MO is 1.09%, slightly higher than the national median of 0.99% but lower than the Missouri state median of 1.20%. With the median home value in Walnut Grove at $73,145, the typical annual property tax bill reaches $726, which is significantly below the national median of $2,690. Property taxes in Walnut Grove are determined based on the assessed value, which is often less than the market value due to various exemptions such as the primary residence and agricultural exemptions. Understanding Walnut Grove'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 Walnut Grove 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
Walnut Grove, Missouri Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.09%
Estimate Property Tax Bill
$797
Ownwell’s Walnut Grove Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Walnut Grove with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Walnut Grove 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 Walnut Grove, Missouri
Property taxes in Walnut Grove, Missouri, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Walnut Grove is 1.09%, higher than both the Missouri state median and the U.S. national median of 0.99%. Local government entities within Walnut Grove set these rates annually, and they can vary significantly across different neighborhoods. Each year, Walnut Grove 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 Walnut Grove's effective property tax rate to other counties in Missouri and the national median. For comparison, the 65770 zip code has both the highest and lowest median property tax rate of 1.09%. Understanding how these areas compare with Walnut Grove provides valuable insights into the varying tax landscape across Dade County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Walnut Grove Tax Rate
1.09%
Average Dade County Tax Rate
1.05%
Average Missouri Tax Rate
1.20%
Average United States Tax Rate
0.99%
Property Tax Rates Across Walnut Grove, Missouri
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 65770 | 0.94% | 1.01% | 1.09% | 1.10% | 1.13% |
Source: Ownwell
Property Tax Assessment Values Across Walnut Grove, Missouri
In Walnut Grove, 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 Dade 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 Walnut Grove, 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 Walnut Grove helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The highest and lowest median tax bills in the area are both in zip code 65770, valued at $726.
Average Walnut Grove Assessed Value
$73,145
Average Dade County Assessed Value
$50,295
Average Missouri Assessed Value
$129,505
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Walnut Grove, Missouri
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 65770 | $18,322 | $43,878 | $73,145 | $113,778 | $213,690 |
Source: Ownwell
Property Tax Bills Across Walnut Grove, Missouri
In Walnut Grove, located in Dade 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 tax bill. The median home price in Walnut Grove is $73,145, and property tax rates can vary within the region. For instance, homeowners in the 25th percentile can expect a tax bill around $481, while those in the 75th percentile might see a bill closer to $1,189. At the 90th percentile, tax bills can reach up to $2,304. These tax bills are significantly influenced by the local tax rate and the assessed value of the property. Compared to the national median property tax rate of 0.99%, Walnut Grove’s rates reflect the local economic conditions and public service funding needs. Homeowners should be aware of these factors as they can impact the overall affordability and financial planning associated with owning property in this area.
Average Walnut Grove Tax Bill
$726
Average Dade County Tax Bill
$544
Average Missouri Tax Bill
$1,606
Average United States Tax Bill
$2,690
Property Tax Bills Across Walnut Grove, Missouri
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 65770 | $171 | $481 | $726 | $1,189 | $2,304 |
Source: Ownwell