Lone Jack, Missouri Property Taxes
The median property tax rate in Lone Jack, MO is 1.55%, considerably higher than both the national median of 0.99% and the Missouri state median of 1.20%. With the median home value in Lone Jack at $216,000, the typical annual property tax bill reaches $3,243, exceeding the national median of $2,690. Property taxes in Lone Jack are calculated based on the assessed value, which typically falls below the market value due to various exemptions like the primary residence and agricultural exemptions. Understanding Lone Jack'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 Lone Jack 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
Lone Jack, Missouri Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.55%
Estimate Property Tax Bill
$3,348
Ownwell’s Lone Jack Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Lone Jack with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Lone Jack 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 Lone Jack, Missouri
Property taxes in Lone Jack, Missouri, are vital in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Lone Jack is 1.55%, significantly higher than both the Missouri state median and the U.S. national median of 0.99%. Local government entities within Lone Jack set these rates annually, and they can vary significantly across different neighborhoods. Each year, Lone Jack 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 Lone Jack's effective property tax rate to other areas in Jackson County and the national median. For comparison, the zip code 64070 has the highest median property tax rate of 1.55%, while the same zip code also has the lowest median tax rate of 1.55%. Understanding how these areas compare with Lone Jack 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 Lone Jack Tax Rate
1.55%
Average Jackson County Tax Rate
1.56%
Average Missouri Tax Rate
1.20%
Average United States Tax Rate
0.99%
Property Tax Rates Across Lone Jack, Missouri
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 64070 | 1.44% | 1.44% | 1.55% | 1.55% | 1.55% |
Source: Ownwell
Property Tax Assessment Values Across Lone Jack, Missouri
In Lone Jack, 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 Jackson 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 Lone Jack, 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 Lone Jack helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. Notably, the zip code 64070 has both the highest and lowest median tax bills at $3,243.
Average Lone Jack Assessed Value
$216,000
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 Lone Jack, Missouri
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 64070 | $117,000 | $166,000 | $216,000 | $295,000 | $377,000 |
Source: Ownwell
Property Tax Bills Across Lone Jack, Missouri
Property tax bills in Lone Jack, Jackson County, MO, are calculated based on the assessed value of a property, which is typically a percentage of its market value. The median home price in Lone Jack is $216,000, and the assessed value is determined by local assessors. Once the assessed value is established, the tax rate, or millage rate, set by local taxing authorities, is applied to this value to calculate the tax bill. Several factors influence the final tax bill, including property location, home improvements, and local budgetary needs. Homeowners in Lone Jack see a range of property tax bills. For instance, the 25th percentile tax bill is $2,514, while the 75th percentile reaches $4,419, and the 90th percentile can be as high as $5,560. Compared to the national median property tax rate of 0.99%, Lone Jack's tax bills may seem higher, reflecting the specific financial requirements and property values in the area. This impacts homeowners by influencing their annual financial planning and potentially affecting property values.
Average Lone Jack Tax Bill
$3,243
Average Jackson County Tax Bill
$2,070
Average Missouri Tax Bill
$1,606
Average United States Tax Bill
$2,690
Property Tax Bills Across Lone Jack, Missouri
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 64070 | $1,769 | $2,514 | $3,243 | $4,419 | $5,560 |
Source: Ownwell