Lebanon, Missouri Property Taxes
The median property tax rate in Lebanon, MO is 0.83%, which is notably lower than the national median of 0.99% and the Missouri state median of 1.20%. With a median home value of $55,700 in Lebanon, the typical annual property tax bill amounts to $460, significantly below the national median of $2,690. Property taxes in Lebanon are calculated based on the tax assessed value, often lower than the market value due to exemptions such as those for primary residences and agricultural properties. Understanding Lebanon'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 Lebanon or another part of the city, gaining insight into the local property tax system benefits both homeowners and real estate investors.
Last Updated June 14, 2024
Lebanon, 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 Lebanon Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Lebanon with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Lebanon 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 Lebanon, Missouri
Property taxes in Lebanon, Missouri, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Lebanon is 0.83%, which is lower than the U.S. national median of 0.99%. Local government entities within Lebanon set these rates annually, and they can vary significantly across different neighborhoods. Each year, Lebanon 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 Lebanon's effective property tax rate to other counties in Missouri and the national median. For comparison, the zip code 65536 has the same median property tax rate of 0.83%. Understanding how these areas compare with Lebanon provides valuable insights into the varying tax landscape across Laclede County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Lebanon Tax Rate
0.83%
Average Dallas County Tax Rate
0.78%
Average Missouri Tax Rate
1.20%
Average United States Tax Rate
0.99%
Property Tax Rates Across Lebanon, Missouri
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 65536 | 0.72% | 0.80% | 0.83% | 0.87% | 0.96% |
Source: Ownwell
Property Tax Assessment Values Across Lebanon, Missouri
In Lebanon, 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 Dallas 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 Lebanon, 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 Lebanon helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The highest median tax bill in the area is $460.00 in zip code 65536, while the lowest median tax bill is also $460.00 in the same zip code.
Average Lebanon Assessed Value
$55,700
Average Dallas County Assessed Value
$66,700
Average Missouri Assessed Value
$129,505
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Lebanon, Missouri
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 65536 | $20,640 | $39,200 | $55,700 | $108,600 | $169,520 |
Source: Ownwell
Property Tax Bills Across Lebanon, Missouri
In Lebanon, located in Dallas County, MO, property tax bills are calculated based on the assessed value of a home, which is a percentage of its market value. The median home price in Lebanon is $55,700. Property tax rates and bills can vary significantly. For example, the 25th percentile tax bill is $318, while the 75th percentile tax bill is $896, and the 90th percentile tax bill reaches up to $1,454. The highest median tax bill in the area is $460, found in the 65536 zip code. Several factors influence the property tax bill, including the home's assessed value, local tax rates, and any applicable exemptions. Compared to the national median property tax rate of 0.99%, Lebanon's property tax bills reflect the local economic conditions and housing market. For homeowners, these taxes can impact monthly expenses and overall affordability, making it crucial to understand how their tax bill is derived and what factors may lead to fluctuations in their annual payments.
Average Lebanon Tax Bill
$460
Average Dallas County Tax Bill
$511
Average Missouri Tax Bill
$1,606
Average United States Tax Bill
$2,690
Property Tax Bills Across Lebanon, Missouri
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 65536 | $169 | $318 | $460 | $896 | $1,454 |
Source: Ownwell