Salisbury, Missouri Property Taxes
The median property tax rate in Salisbury, MO is 1.11%, slightly higher than the national median of 0.99% but lower than Missouri's state median of 1.20%. With the median home value in Salisbury at $98,698, the typical annual property tax bill amounts to $1,050, which is below the national median of $2,690. Property taxes in Salisbury are calculated based on the tax assessed value, which often falls below the market value due to exemptions such as primary residence and agricultural exemptions. Understanding Salisbury's property tax system, exploring available exemptions, and identifying opportunities for reductions can lead to significant annual savings. Whether you're in Salisbury's central area or another part of Howard County, grasping the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Salisbury, Missouri Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.11%
Estimate Property Tax Bill
$1,096
Ownwell’s Salisbury Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Salisbury with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Salisbury 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 Salisbury, Missouri
Property taxes in Salisbury, Missouri, are crucial for funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Salisbury is 1.11%, higher than both the Missouri state median and the U.S. national median of 0.99%. Local government entities within Salisbury set these rates annually, and they can vary significantly across different neighborhoods. Each year, Salisbury 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 Salisbury's effective property tax rate to other counties in Missouri and the national median. For comparison, the zip code 65281 has both the highest and lowest median property tax rate of 1.11%. Understanding how these areas compare with Salisbury 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 Salisbury Tax Rate
1.11%
Average Howard County Tax Rate
1.31%
Average Missouri Tax Rate
1.20%
Average United States Tax Rate
0.99%
Property Tax Rates Across Salisbury, Missouri
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 65281 | 1.02% | 1.04% | 1.11% | 1.19% | 1.22% |
Source: Ownwell
Property Tax Assessment Values Across Salisbury, Missouri
In Salisbury, 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 assessor's office 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 Salisbury, 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 Salisbury helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The median home price in Salisbury is $98,698, with tax bills ranging from $628 at the 25th percentile to $2,137 at the 90th percentile. The highest and lowest median tax bills, both at $1,050, are found in the 65281 zip code.
Average Salisbury Assessed Value
$98,698
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 Salisbury, Missouri
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 65281 | $41,920 | $53,171 | $98,698 | $156,356 | $197,569 |
Source: Ownwell
Property Tax Bills Across Salisbury, Missouri
In Salisbury, Missouri, property tax bills are calculated based on the assessed value of a home, which is a percentage of its market value. The local tax rate is then applied to this assessed value. For instance, with a median home price of $98,698, homeowners can expect a range of property tax bills. At the 25th percentile, the tax bill is approximately $628, while at the 75th percentile, it can be around $1,615. For those at the 90th percentile, the tax bill might reach up to $2,137. Several factors influence these calculations, including the home's location within Howard County and any applicable exemptions. These property taxes fund essential public services such as schools, emergency services, and infrastructure. Compared to the national median property tax rate of 0.99%, Salisbury's rates can vary significantly, impacting homeowners differently based on their property's assessed value and the specific tax rates applied. Understanding these factors is crucial for homeowners to manage their annual tax obligations effectively.
Average Salisbury Tax Bill
$1,050
Average Howard County Tax Bill
$882
Average Missouri Tax Bill
$1,606
Average United States Tax Bill
$2,690
Property Tax Bills Across Salisbury, Missouri
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 65281 | $462 | $628 | $1,050 | $1,615 | $2,137 |
Source: Ownwell