Glasgow, Missouri Property Taxes
The median property tax rate in Glasgow, MO is 1.46%, considerably higher than both the national median of 0.99% and Missouri's state median of 1.20%. With the median home value in Glasgow at $57,565, the typical annual property tax bill reaches $788, which is lower than the national median of $2,690. Property taxes in Glasgow are calculated based on the tax assessed value, which typically falls below the market value due to various exemptions like the primary residence and agricultural exemptions. Understanding Glasgow'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 Glasgow 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
Glasgow, 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 Glasgow Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Glasgow with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Glasgow 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 Glasgow, Missouri
Property taxes in Glasgow, Missouri, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Glasgow is 1.46%, significantly higher than both the Missouri state median and the U.S. national median of 0.99%. Local government entities within Glasgow set these rates annually, and they can vary significantly across different neighborhoods. Each year, Glasgow 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 Glasgow's effective property tax rate to other counties in Missouri and the national median. For comparison, the 65254 zip code has the highest median property tax rate of 1.46%, while the same zip code also has the lowest median tax rate of 1.46%. Understanding how these cities compare with Glasgow provides valuable insights into the varying tax landscape across Howard County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Glasgow Tax Rate
1.46%
Average Howard County Tax Rate
1.31%
Average Missouri Tax Rate
1.20%
Average United States Tax Rate
0.99%
Property Tax Rates Across Glasgow, Missouri
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 65254 | 1.07% | 1.25% | 1.46% | 1.47% | 1.47% |
Source: Ownwell
Property Tax Assessment Values Across Glasgow, Missouri
In Glasgow, 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 Glasgow, 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 Glasgow helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The highest median tax bill in Glasgow is $788 in the zip code 65254, while the lowest is also $788 in the same zip code. This highlights the importance of understanding your specific property details to effectively manage and potentially reduce your tax obligations.
Average Glasgow Assessed Value
$57,565
Average Howard County Assessed Value
$68,234
Average Missouri Assessed Value
$129,505
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Glasgow, Missouri
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 65254 | $21,682 | $32,702 | $57,565 | $98,734 | $162,793 |
Source: Ownwell
Property Tax Bills Across Glasgow, Missouri
In Glasgow, located in Howard County, MO, property tax bills are calculated based on the assessed value of a home, which is a percentage of the market value. With a median home price of $57,565, the tax bill can vary significantly. For instance, the tax bill at the 25th percentile is around $450, while at the 75th percentile, it rises to approximately $1,280, and at the 90th percentile, it can reach $2,082. These figures illustrate the range of property tax burdens homeowners may face. Several factors influence the tax bill, including the property's assessed value, local tax rates, and any applicable exemptions. The assessed value is determined by the county assessor and reflects a portion of the property's market value. Local tax rates are then applied to this assessed value to calculate the final tax bill. Homeowners in Glasgow experience varying levels of property tax, which can impact their overall financial planning and housing affordability. Understanding these factors helps homeowners anticipate and manage their property tax obligations effectively.
Average Glasgow Tax Bill
$788
Average Howard County Tax Bill
$882
Average Missouri Tax Bill
$1,606
Average United States Tax Bill
$2,690
Property Tax Bills Across Glasgow, Missouri
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 65254 | $296 | $450 | $788 | $1,280 | $2,082 |
Source: Ownwell