Grubville, Missouri Property Taxes
The median property tax rate in Grubville, MO is 1.05%, 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 Grubville at $152,990, the typical annual property tax bill reaches $1,576, which is below the national median of $2,690. Property taxes in Grubville are calculated based on the assessed value, which often falls below the market value due to various exemptions like the primary residence and agricultural exemptions. Understanding Grubville'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 Grubville or another part of Franklin County, understanding the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Grubville, 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 Grubville Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Grubville with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Grubville 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 Grubville, Missouri
Property taxes in Grubville, Missouri, are crucial for funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Grubville is 1.05%, which is higher than both the Missouri state median and the U.S. national median of 0.99%. Local government entities within Grubville set these rates annually, and they can vary significantly across different neighborhoods. Each year, Grubville 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 Grubville's effective property tax rate to other counties in Missouri and the national median. For comparison, the 63041 zip code has the highest median property tax rate of 1.05%, while the same zip code also has the lowest median tax rate of 1.05%. Understanding how these cities compare with Grubville provides valuable insights into the varying tax landscape across Franklin County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Grubville Tax Rate
1.05%
Average Franklin County Tax Rate
1.08%
Average Missouri Tax Rate
1.20%
Average United States Tax Rate
0.99%
Property Tax Rates Across Grubville, Missouri
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 63041 | 0.92% | 0.96% | 1.05% | 1.07% | 1.08% |
Source: Ownwell
Property Tax Assessment Values Across Grubville, Missouri
In Grubville, 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 Franklin 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 Grubville, 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 Grubville helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The median home price in Grubville is $152,990, with annual tax bills ranging from $1,138 to $2,752. The highest and lowest median tax bill both stand at $1,576 in the 63041 zip code.
Average Grubville Assessed Value
$152,990
Average Franklin County Assessed Value
$143,800
Average Missouri Assessed Value
$129,505
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Grubville, Missouri
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 63041 | $47,045 | $104,415 | $152,990 | $205,782 | $262,220 |
Source: Ownwell
Property Tax Bills Across Grubville, Missouri
Property tax bills in Grubville, located in Franklin County, MO, are calculated based on the assessed value of a property and the local tax rate. The assessed value is a percentage of the property's market value, determined by the local assessor’s office. This assessed value is then multiplied by the local tax rate to arrive at the annual tax bill. For homeowners in Grubville, the median home price is $152,990. Property tax bills can vary widely, with the 25th percentile tax bill at $1,138 and the 75th percentile at $2,126. At the higher end, the 90th percentile tax bill reaches $2,752. These figures indicate that property taxes can significantly impact household budgets, especially when compared to the national median property tax rate of 0.99%. Understanding how property tax bills are determined is crucial for homeowners, as it directly affects their financial planning and the overall affordability of their homes. By staying informed, homeowners can better anticipate their annual tax liabilities.
Average Grubville Tax Bill
$1,576
Average Franklin County Tax Bill
$1,687
Average Missouri Tax Bill
$1,606
Average United States Tax Bill
$2,690
Property Tax Bills Across Grubville, Missouri
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 63041 | $563 | $1,138 | $1,576 | $2,126 | $2,752 |
Source: Ownwell