Laredo, Grundy County, Missouri Property Taxes
The median property tax rate in Laredo, Missouri is 1.72%, considerably higher than both the national median of 0.99% and the Missouri state median of 1.20%. With the median home value in Laredo at $26,720, the typical annual property tax bill reaches $430, which is well below the national median of $2,690. Property taxes in Laredo are calculated based on the tax assessed value, which often falls below the market value due to various exemptions like the primary residence and agricultural exemptions. Understanding Laredo'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 Laredo 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
Laredo, Grundy County, Missouri Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.72%
Estimate Property Tax Bill
$460
$426
Ownwell’s Laredo Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Laredo with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Laredo 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 Laredo, Grundy County, Missouri
Property taxes in Laredo, Missouri, are vital in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Laredo is 1.72%, higher than both the Missouri state median and the U.S. national median of 0.99%. Local government entities within Laredo set these rates annually, and they can vary significantly across different neighborhoods. Each year, Laredo 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 Laredo's effective property tax rate to other counties in Missouri and the national median. For comparison, the 64652 zip code has the highest median property tax rate of 1.72%, while the 64652 zip code also has the lowest median tax rate of 1.72%. Understanding how these cities compare with Laredo provides valuable insights into the varying tax landscape across Grundy, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Laredo Tax Rate
1.72%
Average Grundy County Tax Rate
1.42%
Average Missouri Tax Rate
1.20%
Average United States Tax Rate
0.99%
Property Tax Rates Across Laredo, Grundy County, Missouri
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 64652 | 1.21% | 1.42% | 1.72% | 1.73% | 1.73% |
Source: Ownwell
Property Tax Assessment Values Across Laredo, Grundy County, Missouri
In Laredo, 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 Grundy 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 Laredo, 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 Laredo helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The zip code with the highest median tax bill is 64652, with a value of $430, while the lowest median tax bill is also $430, making it essential to stay informed and proactive.
Property Tax Assessment Values Across Laredo, Grundy County, Missouri
Source: Ownwell
$26,720
$62,540
$98,360
Average Laredo Assessed Value
$26,720
Average Grundy County Assessed Value
$44,895
Average Missouri Assessed Value
$129,505
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Laredo, Grundy County, Missouri
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 64652 | $3,430 | $9,350 | $26,720 | $78,835 | $146,570 |
Source: Ownwell
Property Tax Bills Across Laredo, Grundy County, Missouri
In Laredo, property tax bills are calculated based on the assessed value of a property, which is determined by the local tax assessor. This assessed value is a percentage of the property's market value. The tax rate, set by local taxing authorities, is then applied to the assessed value to determine the annual tax bill. Several factors influence the tax bill, including property size, location, and any applicable exemptions or deductions. For homeowners in Laredo, the median home price is $26,720. Tax bills can vary significantly, with the 25th percentile at $161 and the 75th percentile reaching $1,104. At the 90th percentile, tax bills can go up to $2,221. These figures highlight the range of possible tax obligations, reflecting differences in property values and applicable tax rates. Comparatively, the highest and lowest median tax bills in Grundy County are both $430, indicating some uniformity within the county. Understanding these factors helps homeowners anticipate their property tax responsibilities and manage their finances accordingly.
Average Laredo Tax Bill
$430
Average Grundy County Tax Bill
$610
Average Missouri Tax Bill
$1,606
Average United States Tax Bill
$2,690
Property Tax Bills Across Laredo, Grundy County, Missouri
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 64652 | $59 | $161 | $430 | $1,104 | $2,221 |
Source: Ownwell