Larussell, Missouri Property Taxes
The median property tax rate in La Russell, MO is 0.76%, which is notably 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 $48,320, the typical annual property tax bill amounts to $365, significantly below the national median of $2,690. Property taxes in La Russell are calculated based on the tax assessed value, which often falls below the market value due to various exemptions, such as those for primary residences and agricultural properties. Understanding La Russell's property tax system, exploring available exemptions, and identifying opportunities for reductions can lead to substantial annual savings. Whether you're in the heart of La Russell or another part of Jasper County, grasping the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Larussell, Missouri Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.76%
Estimate Property Tax Bill
$367
Ownwell’s LaRussell Property Tax Bill Calculator empowers homeowners, real estate investors, and potential buyers to estimate their annual property taxes in LaRussell with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in LaRussell to provide an estimate of your property tax bill. This insightful tool helps you understand potential tax liabilities. For those interested in neighborhood-level trends, more localized information is available below. Your property’s assessed value is determined by the county for property tax calculations and includes any applicable exemptions.
Property Tax Rates Across Larussell, Missouri
Property taxes in La Russell, Missouri, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in La Russell is 0.76%, 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 0.76%, while the same zip code also has the lowest median tax rate of 0.76%. 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 Larussell Tax Rate
0.76%
Average Jasper County Tax Rate
0.89%
Average Missouri Tax Rate
1.20%
Average United States Tax Rate
0.99%
Property Tax Rates Across Larussell, Missouri
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 64848 | 0.76% | 0.76% | 0.76% | 0.76% | 0.76% |
Source: Ownwell
Property Tax Assessment Values Across Larussell, Missouri
Understanding the difference between "market value" and "assessed value" is crucial for comprehending property taxes in LaRussell, 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 LaRussell, 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 LaRussell helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The zip code 64848 has both the highest and lowest median tax bills, amounting to $365.
Average Larussell Assessed Value
$48,320
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 Larussell, Missouri
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 64848 | $48,320 | $48,320 | $48,320 | $48,320 | $48,320 |
Source: Ownwell
Property Tax Bills Across Larussell, Missouri
In La Russell, property tax bills are calculated based on the assessed value of a property, which is determined by the Jasper County assessor. This assessed value is a percentage of the property's market value. For homeowners in La Russell, the median home price is $48,320. The property tax rate in this region is applied to the assessed value to determine the annual tax bill. Factors such as property location, improvements, and market conditions can influence the assessed value. In La Russell, the property tax bills are relatively uniform, with the 25th, 75th, and 90th percentiles all having a tax bill of $365. This figure is consistent across different zip codes within the city, indicating a stable tax environment. Compared to the national median property tax rate of 0.99%, La Russell's property tax bills are quite modest. This stable and predictable tax bill can provide homeowners with a sense of financial security, making it easier to budget for annual expenses.
Average Larussell Tax Bill
$365
Average Jasper County Tax Bill
$737
Average Missouri Tax Bill
$1,606
Average United States Tax Bill
$2,690
Property Tax Bills Across Larussell, Missouri
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 64848 | $365 | $365 | $365 | $365 | $365 |
Source: Ownwell