Marshfield, Missouri Property Taxes
The median property tax rate in Marshfield, MO is 0.97%, which is slightly below the national median of 0.99% and significantly lower than Missouri's state median of 1.20%. With a median home value of $130,300 in Marshfield, the typical annual property tax bill amounts to $1,223, well below the national median of $2,690. Property taxes in Marshfield are calculated based on the tax assessed value, which is often lower than the market value due to various exemptions, such as those for primary residences and agricultural properties. Understanding Marshfield'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 Marshfield or another part of the city, gaining insight into the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Marshfield, Missouri Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.97%
Estimate Property Tax Bill
$1,264
Ownwell’s Marshfield Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Marshfield with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Marshfield 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 Marshfield, Missouri
Property taxes in Marshfield, Missouri, are crucial in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Marshfield is 0.97%, slightly below the U.S. national median of 0.99%. Local government entities within Marshfield set these rates annually, and they can vary significantly across different neighborhoods. Each year, Marshfield 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. Understanding how Marshfield's effective property tax rate compares with other areas in Webster County and the national median provides valuable insights into the varying tax landscape across the region, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Marshfield Tax Rate
0.97%
Average Greene County Tax Rate
1.01%
Average Missouri Tax Rate
1.20%
Average United States Tax Rate
0.99%
Property Tax Rates Across Marshfield, Missouri
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 65706 | 0.91% | 0.95% | 0.97% | 0.97% | 0.97% |
Source: Ownwell
Property Tax Assessment Values Across Marshfield, Missouri
In Marshfield, 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 local 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 Marshfield, 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 Marshfield helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. For example, the highest median tax bill in the area is $1223, while the lowest is also $1223, both in the 65706 zip code. This knowledge can empower homeowners to make informed decisions and potentially reduce their property tax liabilities.
Average Marshfield Assessed Value
$130,300
Average Greene County Assessed Value
$140,200
Average Missouri Assessed Value
$129,505
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Marshfield, Missouri
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 65706 | $49,300 | $76,300 | $130,300 | $196,375 | $237,450 |
Source: Ownwell
Property Tax Bills Across Marshfield, Missouri
In Marshfield, 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 Marshfield is $130,300. The assessed value is then multiplied by the local tax rate to determine the annual property tax bill. Factors such as property improvements, market conditions, and local government budgets can influence these calculations. For homeowners in Marshfield, the tax bill can vary significantly. The 25th percentile tax bill is $708, while the 75th percentile tax bill is $1,907, and the 90th percentile tax bill reaches $2,305. These figures highlight the range of property tax burdens that residents might experience, depending on their property's assessed value and any applicable exemptions. Compared to the national median property tax rate of 0.99%, Marshfield offers a relatively moderate tax environment. However, understanding how these taxes are calculated and their potential impact on household budgets is crucial for homeowners planning their finances.
Average Marshfield Tax Bill
$1,223
Average Greene County Tax Bill
$1,465
Average Missouri Tax Bill
$1,606
Average United States Tax Bill
$2,690
Property Tax Bills Across Marshfield, Missouri
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 65706 | $471 | $708 | $1,223 | $1,907 | $2,305 |
Source: Ownwell