Phillipsburg, Missouri Property Taxes
The median property tax rate in Phillipsburg, MO is 1.00%, slightly above the national median of 0.99% but lower than Missouri's state median of 1.20%. With a median home value of $62,500 in Phillipsburg, the typical annual property tax bill amounts to $606, which is significantly below the national median of $2,690. Property taxes in Phillipsburg are calculated based on the tax assessed value, often lower than the market value due to exemptions like those for primary residences and agricultural properties. Understanding Phillipsburg'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 Phillipsburg or another part of the city, grasping the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Phillipsburg, Missouri Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1%
Estimate Property Tax Bill
$625
Ownwell’s Phillipsburg Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Phillipsburg with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Phillipsburg 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 Phillipsburg, Missouri
Property taxes in Phillipsburg, Missouri, are vital in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Phillipsburg is 1.00%, higher than both the Missouri state median and the U.S. national median of 0.99%. Local government entities within Phillipsburg set these rates annually, and they can vary significantly across different neighborhoods. Each year, Phillipsburg 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 Phillipsburg's effective property tax rate to other counties in Missouri and the national median. For comparison, the 65722 zip code has the highest median property tax rate of 1.00%, while the same zip code also has the lowest median tax rate of 1.00%. Understanding how these cities compare with Phillipsburg provides valuable insights into the varying tax landscape across Laclede County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Phillipsburg Tax Rate
1.00%
Average Laclede County Tax Rate
1.10%
Average Missouri Tax Rate
1.20%
Average United States Tax Rate
0.99%
Property Tax Rates Across Phillipsburg, Missouri
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 65722 | 0.78% | 0.82% | 1.00% | 1.13% | 1.13% |
Source: Ownwell
Property Tax Assessment Values Across Phillipsburg, Missouri
In Phillipsburg, 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 Laclede 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 Phillipsburg, 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 Phillipsburg helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The highest median tax bill in the area is $606.00, specifically in the 65722 zip code, which is also the lowest.
Average Phillipsburg Assessed Value
$62,500
Average Laclede County Assessed Value
$72,400
Average Missouri Assessed Value
$129,505
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Phillipsburg, Missouri
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 65722 | $21,300 | $37,775 | $62,500 | $99,350 | $150,000 |
Source: Ownwell
Property Tax Bills Across Phillipsburg, Missouri
In Phillipsburg, Missouri, property tax bills are calculated based on the assessed value of a home, which is determined by the Laclede County Assessor's Office. The assessed value is typically a percentage of the property's market value. Factors such as property size, location, and improvements are considered in this assessment. The local tax rate, applied to this assessed value, determines the final tax bill. For homeowners in Phillipsburg, the median home price is $62,500. The property tax bill can vary significantly, with the 25th percentile at $386 and the 75th percentile at $958. At the 90th percentile, the tax bill reaches $1,448. This variability reflects differences in property values and individual assessments. Compared to the national median property tax rate of 0.99%, Phillipsburg's property tax rates offer a range that can affect homeowners differently based on their property's assessed value. Understanding these factors can help homeowners anticipate their tax obligations and plan accordingly.
Average Phillipsburg Tax Bill
$606
Average Laclede County Tax Bill
$742
Average Missouri Tax Bill
$1,606
Average United States Tax Bill
$2,690
Property Tax Bills Across Phillipsburg, Missouri
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 65722 | $232 | $386 | $606 | $958 | $1,448 |
Source: Ownwell