Shelbyville, Missouri Property Taxes
The median property tax rate in Shelbyville, MO is 0.91%, lower than both the national median of 0.99% and Missouri's state median of 1.20%. With a median home value of $22,075 in Shelbyville, the typical annual property tax bill is around $170, significantly below the national median of $2,690. Property taxes in Shelbyville are calculated based on the tax assessed value, which often falls below the market value due to various exemptions like the primary residence and agricultural exemptions. Understanding Shelbyville'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 Shelbyville 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
Shelbyville, Missouri Property Tax Bill Calculator
$100,000
$2,500,000
$5,000,000
Average Tax Rate
1.2%
Estimate Property Tax Bill
$2,400
Ownwell’s Shelbyville Property Tax Bill Calculator assists homeowners, real estate investors, and potential buyers in estimating their annual property taxes in Shelbyville using just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Shelbyville to provide an estimate of your property tax bill. This valuable 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, taking into account any applicable exemptions.
Property Tax Rates Across Shelbyville, Missouri
Property taxes in Shelbyville, Missouri, are crucial for funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Shelbyville is 0.82%, lower than both the Missouri state median of 0.91% and the U.S. national median of 0.99%. Local government entities within Shelbyville set these rates annually, and they can vary significantly across different neighborhoods. Each year, Shelbyville 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 Shelbyville's effective property tax rate to other counties in Missouri and the national median. For comparison, the 63469 zip code has both the highest and lowest median property tax rate of 0.91%. Understanding how these cities compare with Shelbyville provides valuable insights into the varying tax landscape across Knox County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Shelbyville Tax Rate
0.91%
Average Knox County Tax Rate
0.72%
Average Missouri Tax Rate
1.20%
Average United States Tax Rate
0.99%
Property Tax Rates Across Shelbyville, Missouri
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 63469 | 0.69% | 0.69% | 0.91% | 1.10% | 1.10% |
Source: Ownwell
Property Tax Assessment Values Across Shelbyville, Missouri
In Shelbyville, 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 assessment authority 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 Shelbyville, 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 Shelbyville helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The highest and lowest median tax bills in the area are both $170.00 in the zip code 63469.
Average Shelbyville Assessed Value
$22,075
Average Knox County Assessed Value
$29,820
Average Missouri Assessed Value
$129,505
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Shelbyville, Missouri
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 63469 | $4,448 | $10,638 | $22,075 | $47,240 | $83,606 |
Source: Ownwell
Property Tax Bills Across Shelbyville, Missouri
In Shelbyville, located in Knox County, MO, property tax bills are calculated based on the assessed value of a home, which is a percentage of its market value. The median home price in Shelbyville is $22,075, and the property tax rate is applied to this assessed value to determine the tax bill. Various factors influence the tax bill, including the home's assessed value, local tax rates, and any applicable exemptions or deductions. For example, the 25th percentile tax bill in Shelbyville is $78, while the 75th percentile tax bill reaches $386. At the 90th percentile, homeowners might see a tax bill of $677. These variations highlight the impact of property values and local tax rates on individual tax bills. Understanding these factors helps homeowners anticipate their annual tax obligations and manage their finances accordingly. Compared to the national median property tax rate of 0.99%, Shelbyville's property tax bills are relatively modest, making it a more affordable option for homeowners.
Average Shelbyville Tax Bill
$170
Average Knox County Tax Bill
$245
Average Missouri Tax Bill
$1,606
Average United States Tax Bill
$2,690
Property Tax Bills Across Shelbyville, Missouri
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 63469 | $38 | $78 | $170 | $386 | $677 |
Source: Ownwell