Lees Summit, Missouri Property Taxes
The median property tax rate in Lees Summit, MO is 1.53%, considerably higher than both the national median of 0.99% and the Missouri state median of 1.20%. With the median home value in Lees Summit at $228,000, the typical annual property tax bill reaches $3,528, exceeding the national median of $2,690. Property taxes in Lees Summit 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 Lees Summit'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 Lees Summit 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
Lees Summit, Missouri Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.53%
Estimate Property Tax Bill
$3,488
Ownwell’s Lees Summit Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Lees Summit with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Lees Summit 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 Lees Summit, Missouri
Property taxes in Lees Summit, Missouri, are crucial in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Lees Summit is 1.53%, higher than both the Missouri state median and the U.S. national median of 0.99%. Local government entities within Lees Summit set these rates annually, and they can vary significantly across different neighborhoods. Each year, Lees Summit 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 Lees Summit's effective property tax rate to other areas in Missouri and the national median. For comparison, the 64064 zip code has the highest median property tax rate of 1.61%, while the 64065 zip code has the lowest median tax rate of 1.13%. Understanding how these areas compare with Lees Summit provides valuable insights into the varying tax landscape across Jackson County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Lees Summit Tax Rate
1.53%
Average Jackson County Tax Rate
1.56%
Average Missouri Tax Rate
1.20%
Average United States Tax Rate
0.99%
Property Tax Rates Across Lees Summit, Missouri
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 64015 | 1.61% | 1.61% | 1.61% | 1.61% | 1.61% |
| 64063 | 1.53% | 1.53% | 1.53% | 1.53% | 1.53% |
| 64064 | 1.53% | 1.61% | 1.61% | 1.61% | 1.71% |
| 64065 | 1.13% | 1.13% | 1.13% | 1.13% | 1.13% |
| 64081 | 1.53% | 1.53% | 1.53% | 1.53% | 1.53% |
| 64082 | 1.53% | 1.53% | 1.53% | 1.53% | 1.53% |
| 64086 | 1.53% | 1.53% | 1.53% | 1.53% | 1.55% |
Source: Ownwell
Property Tax Assessment Values Across Lees Summit, Missouri
Understanding the difference between "market value" and "assessed value" is crucial for comprehending property taxes in Lees Summit, Missouri. 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 Jackson County Assessment Department 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 Lees Summit, 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. For example, the median home price in Lees Summit is $228,000, with tax bills ranging significantly. The zip code 64064 has the highest median tax bill at $4,724, while zip code 64015 has the lowest at $139. By understanding these valuation concepts, property owners can better navigate their tax responsibilities and identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Lees Summit Assessed Value
$228,000
Average Jackson County Assessed Value
$127,000
Average Missouri Assessed Value
$129,505
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Lees Summit, Missouri
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 64015 | $8,595 | $8,595 | $8,595 | $8,595 | $8,595 |
| 64063 | $111,000 | $131,000 | $166,000 | $211,000 | $292,000 |
| 64064 | $129,000 | $199,000 | $294,000 | $394,000 | $490,100 |
| 64065 | $121,235 | $121,235 | $121,235 | $121,235 | $121,235 |
| 64081 | $133,000 | $177,000 | $239,000 | $324,000 | $427,000 |
| 64082 | $175,000 | $227,000 | $292,000 | $340,000 | $418,000 |
| 64086 | $147,000 | $175,000 | $213,000 | $327,500 | $476,000 |
Source: Ownwell
Property Tax Bills Across Lees Summit, Missouri
In Lees Summit, property tax bills are calculated based on the assessed value of the property, which is a percentage of its market value. The assessed value is then multiplied by the local tax rate to determine the annual tax bill. In Jackson County, the median home price is $228,000. Factors such as property location, size, and improvements can influence the assessed value. For instance, the highest median tax bill in the area is $4,724 in the 64064 zip code, while the lowest is $139 in the 64015 zip code. Homeowners in Lees Summit can expect their property tax bills to vary significantly, with the 25th percentile tax bill at $2,607 and the 75th percentile at $5,061. The 90th percentile tax bill even reaches $6,825. These variations highlight the importance of understanding how property characteristics and local rates affect individual tax obligations. Comparing these figures to the national median property tax rate of 0.99% helps homeowners gauge their tax burden relative to other regions.
Average Lees Summit Tax Bill
$3,528
Average Jackson County Tax Bill
$2,070
Average Missouri Tax Bill
$1,606
Average United States Tax Bill
$2,690
Property Tax Bills Across Lees Summit, Missouri
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 64015 | $139 | $139 | $139 | $139 | $139 |
| 64063 | $1,702 | $2,009 | $2,546 | $3,236 | $4,479 |
| 64064 | $2,081 | $3,190 | $4,724 | $6,452 | $8,156 |
| 64065 | $1,376 | $1,376 | $1,376 | $1,376 | $1,376 |
| 64081 | $2,071 | $2,730 | $3,681 | $4,969 | $6,549 |
| 64082 | $2,699 | $3,482 | $4,494 | $5,230 | $6,411 |
| 64086 | $2,255 | $2,684 | $3,267 | $5,031 | $7,301 |
Source: Ownwell