Long Lane, Missouri Property Taxes
The median property tax rate in Long Lane, MO is 0.76%, which is lower than both the national median of 0.99% and the Missouri state median of 1.20%. With the median home value in Long Lane at $62,750, the typical annual property tax bill is $470, significantly below the national median of $2,690. Property taxes in Long Lane are calculated based on the tax assessed value, which often falls below the market value due to various exemptions such as primary residence and agricultural exemptions. Understanding Long Lane'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 Long Lane 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
Long Lane, 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 Long Lane Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Long Lane with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Long Lane 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 Dallas County for property tax calculations, accounting for any exemptions that may apply.
Property Tax Rates Across Long Lane, Missouri
Property taxes in Long Lane, Missouri, are essential for funding critical local services, including public schools, road maintenance, and emergency services. The median tax rate in Long Lane is 0.76%, which is lower than the U.S. national median of 0.99%. Local government entities within Long Lane set these rates annually, and they can vary significantly across different neighborhoods. Each year, Long Lane 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 Long Lane's effective property tax rate to other counties in Missouri and the national median. For comparison, the zip code 65590 has both the highest and lowest median property tax rate of 0.76%. Understanding how these cities compare with Long Lane provides valuable insights into the varying tax landscape across Dallas County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Long Lane Tax Rate
0.76%
Average Dallas County Tax Rate
0.78%
Average Missouri Tax Rate
1.20%
Average United States Tax Rate
0.99%
Property Tax Rates Across Long Lane, Missouri
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 65590 | 0.68% | 0.72% | 0.76% | 0.79% | 0.84% |
Source: Ownwell
Property Tax Assessment Values Across Long Lane, Missouri
In Long Lane, 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 Assessor 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 Long Lane, 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 Long Lane helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The highest and lowest median tax bills in Long Lane are both $470.00, found in the 65590 zip code.
Average Long Lane Assessed Value
$62,750
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 Long Lane, Missouri
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 65590 | $18,910 | $32,825 | $62,750 | $102,625 | $159,980 |
Source: Ownwell
Property Tax Bills Across Long Lane, Missouri
In Long Lane, Dallas County, MO, property tax bills are calculated based on the assessed value of the property. The assessed value is a percentage of the property's market value, and this percentage is determined by state law. Homeowners in Long Lane pay property taxes that reflect this assessed value, multiplied by the local tax rate. The median home price in Long Lane is $62,750, and property tax bills vary significantly. For instance, the tax bill at the 25th percentile is $262, while at the 75th percentile, it is $772. At the 90th percentile, homeowners may see tax bills as high as $1,225. These property taxes fund essential public services such as schools, emergency services, and infrastructure. Compared to the national median property tax rate of 0.99%, Long Lane's property tax rates can be considered relatively moderate. Homeowners in this region need to be aware of these factors as they significantly impact the overall cost of owning a home.
Average Long Lane Tax Bill
$470
Average Dallas County Tax Bill
$511
Average Missouri Tax Bill
$1,606
Average United States Tax Bill
$2,690
Property Tax Bills Across Long Lane, Missouri
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 65590 | $134 | $262 | $470 | $772 | $1,225 |
Source: Ownwell