Leeton, Missouri Property Taxes
The median property tax rate in Leeton, MO is 0.88%, which is notably lower than both the national median of 0.99% and the Missouri state median of 1.20%. With the median home value in Leeton, the typical annual property tax bill is $398, significantly below the national median of $2,690. Property taxes in Leeton are determined based on the tax assessed value, often lower than the market value due to exemptions like the primary residence and agricultural exemptions. Understanding Leeton'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 Leeton or another part of Henry County, grasping the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Leeton, 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 Leeton Property Tax Bill Calculator assists homeowners, real estate investors, and potential buyers in estimating their annual property taxes in Leeton with just two data points. By entering your property's estimated assessed value, the calculator uses the median tax rate in Leeton to project your property tax bill. This valuable tool provides clarity on potential tax obligations. For those interested in neighborhood-specific trends, additional localized information is available below. Your property’s assessed value, determined by Henry County, is used for property tax calculations and includes any applicable exemptions.
Property Tax Rates Across Leeton, Missouri
Property taxes in Leeton, Missouri, are vital in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Leeton is 0.88%, which is lower than the U.S. national median of 0.99%. Local government entities within Leeton set these rates annually, and they can vary significantly across different neighborhoods. Each year, Leeton 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 Leeton's effective property tax rate to other areas in Henry County and the national median. For comparison, the 64761 zip code has both the highest and lowest median property tax rate of 0.88%. Understanding how these areas compare with Leeton provides valuable insights into the varying tax landscape across Henry County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Leeton Tax Rate
0.88%
Average Henry County Tax Rate
0.95%
Average Missouri Tax Rate
1.20%
Average United States Tax Rate
0.99%
Property Tax Rates Across Leeton, Missouri
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 64761 | 0.79% | 0.84% | 0.88% | 0.95% | 0.95% |
Source: Ownwell
Property Tax Assessment Values Across Leeton, Missouri
In Leeton, 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 Leeton, 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. In Leeton, the median home price is $42,750, with property tax bills ranging from $153 at the 25th percentile to $605 at the 90th percentile. The highest and lowest median tax bills are both $398 in the 64761 zip code. Being aware of these valuation processes in Leeton helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Leeton Assessed Value
$42,750
Average Henry County Assessed Value
$36,250
Average Missouri Assessed Value
$129,505
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Leeton, Missouri
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 64761 | $8,920 | $17,350 | $42,750 | $67,550 | $70,220 |
Source: Ownwell
Property Tax Bills Across Leeton, Missouri
In Leeton, located in Henry County, MO, property tax bills are calculated based on the assessed value of a property, which is typically a percentage of its market value. For homeowners, this means that the higher the market value of their property, the higher their tax bill. The median home price in Leeton is $42,750, and the property tax rate is applied to this assessed value to determine the annual tax bill. Various factors influence the tax bill, including property size, location, and any improvements made to the property. Tax bills can vary significantly, with the 25th percentile at $153 and the 75th percentile at $548, indicating a wide range of property values and corresponding tax obligations. The 90th percentile tax bill reaches up to $605, highlighting the impact of higher-valued properties on tax rates. For homeowners in Leeton, understanding these factors is crucial for financial planning and managing annual property tax expenses.
Average Leeton Tax Bill
$398
Average Henry County Tax Bill
$369
Average Missouri Tax Bill
$1,606
Average United States Tax Bill
$2,690
Property Tax Bills Across Leeton, Missouri
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 64761 | $84 | $153 | $398 | $548 | $605 |
Source: Ownwell