La Russell, Missouri Property Taxes
The median property tax rate in LA Russell, MO is 0.77%, considerably lower than both the national median of 0.99% and the Missouri state median of 1.20%. With the median home value in LA Russell at $51,250, the typical annual property tax bill reaches $396, significantly below the national median of $2,690. Property taxes in LA Russell 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 LA Russell'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 LA Russell or another part of Jasper County, understanding the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
La Russell, Missouri Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.77%
Estimate Property Tax Bill
$395
Ownwell’s LA RUSSELL Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in LA RUSSELL with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in LA RUSSELL 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 La Russell, Missouri
Property taxes in LA RUSSELL, Missouri, are vital in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in LA RUSSELL is 0.77%, which is lower than both the Missouri state median and the U.S. national median of 0.99%. Local government entities within LA RUSSELL set these rates annually, and they can vary significantly across different neighborhoods. Each year, LA RUSSELL 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 LA RUSSELL's effective property tax rate to other counties in Missouri and the national median. For comparison, the 64848 zip code has the highest median property tax rate of 0.77%, while the 64848 zip code also has the lowest median tax rate of 0.77%. Understanding how these cities compare with LA RUSSELL provides valuable insights into the varying tax landscape across Jasper County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average La Russell Tax Rate
0.77%
Average Jasper County Tax Rate
0.89%
Average Missouri Tax Rate
1.20%
Average United States Tax Rate
0.99%
Property Tax Rates Across La Russell, Missouri
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 64848 | 0.75% | 0.76% | 0.77% | 0.79% | 0.82% |
Source: Ownwell
Property Tax Assessment Values Across La Russell, Missouri
Understanding the difference between "market value" and "assessed value" is crucial for comprehending property taxes in LA Russell, 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 Jasper County Assessor 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 LA Russell, 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 LA Russell helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The zip code with the highest and lowest median tax bill is 64848, both at $396, reflecting the uniformity in tax burdens within the area.
Average La Russell Assessed Value
$51,250
Average Jasper County Assessed Value
$82,940
Average Missouri Assessed Value
$129,505
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across La Russell, Missouri
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 64848 | $7,710 | $18,685 | $51,250 | $75,060 | $109,266 |
Source: Ownwell
Property Tax Bills Across La Russell, Missouri
In LA Russell, located in Jasper County, MO, property tax bills are calculated based on the assessed value of a home, which is determined by the county assessor. The assessed value is a percentage of the property's market value, and this figure is then multiplied by the local tax rate to determine the tax bill. For homeowners in LA Russell, the median home price is $51,250. Property tax bills in the area vary significantly, with the 25th percentile paying around $145 and the 75th percentile paying approximately $551. At the 90th percentile, homeowners might see tax bills as high as $834. Compared to the national median property tax rate of 0.99%, homeowners in LA Russell benefit from relatively lower property tax bills. This can make homeownership more affordable, but it also means that local public services funded by property taxes may have different levels of resources. Understanding these factors helps homeowners anticipate their annual expenses and plan their finances accordingly.
Average La Russell Tax Bill
$396
Average Jasper County Tax Bill
$737
Average Missouri Tax Bill
$1,606
Average United States Tax Bill
$2,690
Property Tax Bills Across La Russell, Missouri
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 64848 | $59 | $145 | $396 | $551 | $834 |
Source: Ownwell