Skidmore, Missouri Property Taxes
The median property tax rate in Skidmore, MO is 0.80%, notably lower than both the national median of 0.99% and the Missouri state median of 1.20%. With a median home value of $249,552 in Skidmore, the typical annual property tax bill reaches $2,045, which is below the national median of $2,690. Property taxes in Skidmore are calculated based on the assessed value, which typically falls below the market value due to various exemptions such as primary residence and agricultural exemptions. Understanding Skidmore'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 Skidmore 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
Skidmore, Missouri Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.8%
Estimate Property Tax Bill
$1,996
Ownwell’s Skidmore Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Skidmore with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Skidmore 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 Skidmore, Missouri
Property taxes in Skidmore, Missouri, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Skidmore is 0.80%, which is lower than the U.S. national median of 0.99%. Local government entities within Skidmore set these rates annually, and they can vary significantly across different neighborhoods. Each year, Skidmore 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 Skidmore's effective property tax rate to other counties in Missouri and the national median. For comparison, the zip code 64487 has both the highest and lowest median property tax rate of 0.80%. Understanding how these cities compare with Skidmore provides valuable insights into the varying tax landscape across Holt County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Skidmore Tax Rate
0.80%
Average Holt County Tax Rate
1.18%
Average Missouri Tax Rate
1.20%
Average United States Tax Rate
0.99%
Property Tax Rates Across Skidmore, Missouri
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 64487 | 0.75% | 0.78% | 0.80% | 0.85% | 0.88% |
Source: Ownwell
Property Tax Assessment Values Across Skidmore, Missouri
In Skidmore, 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 Holt 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 Skidmore, 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 Skidmore helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The median home price here is $249,552, with tax bills ranging from $1,747 at the 25th percentile to $2,577 at the 90th percentile. The highest and lowest median tax bills are both $2,045 in the 64487 zip code.
Average Skidmore Assessed Value
$249,552
Average Holt County Assessed Value
$42,789
Average Missouri Assessed Value
$129,505
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Skidmore, Missouri
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 64487 | $200,178 | $229,375 | $249,552 | $283,724 | $307,666 |
Source: Ownwell
Property Tax Bills Across Skidmore, Missouri
In Skidmore, located in Holt County, MO, property tax bills are calculated based on the assessed value of a home. The assessed value is a percentage of the property's market value, which in Skidmore is influenced by various factors such as location, property size, and improvements. For instance, with a median home price of $249,552, homeowners can expect their property tax bills to vary significantly. Tax bills in Skidmore range from $1,747 at the 25th percentile to $2,577 at the 90th percentile. The median property tax bill stands at $2,045, which is higher than the national median property tax rate of 0.99%. This means that homeowners in Skidmore might pay more in property taxes compared to other regions in the country. These tax bills directly impact homeowners by influencing their annual expenses and potentially affecting their ability to invest in property improvements or other financial commitments. Understanding these factors is crucial for homeowners to manage their finances effectively.
Average Skidmore Tax Bill
$2,045
Average Holt County Tax Bill
$458
Average Missouri Tax Bill
$1,606
Average United States Tax Bill
$2,690
Property Tax Bills Across Skidmore, Missouri
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 64487 | $1,537 | $1,747 | $2,045 | $2,495 | $2,577 |
Source: Ownwell