Blackburn, Missouri Property Taxes
The median property tax rate in Blackburn, MO is 0.78%, considerably lower than both the national median of 0.99% and the Missouri state median of 1.20%. With the median home value in Blackburn, the typical annual property tax bill reaches $766, significantly below the national median of $2,690. Property taxes in Blackburn 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 Blackburn'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 Blackburn or another part of Lafayette County, understanding the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Blackburn, Missouri Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.78%
Estimate Property Tax Bill
$769
Ownwell’s BLACKBURN Property Tax Bill Calculator is an essential tool for homeowners, real estate investors, and potential buyers looking to estimate their annual property taxes in BLACKBURN. By entering your property's estimated assessed value, the calculator uses the median tax rate in BLACKBURN to provide an accurate estimate of your property tax bill. This valuable tool helps you anticipate potential tax liabilities, making it easier to plan your finances. For those curious about more localized trends, additional neighborhood-level information is available further down the page. Your property’s assessed value is determined by the county and includes any applicable exemptions, ensuring a precise calculation for property tax purposes.
Property Tax Rates Across Blackburn, Missouri
Property taxes in Blackburn, Missouri, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Blackburn is 0.78%, which is lower than the U.S. national median of 0.99%. Local government entities within Blackburn set these rates annually, and they can vary significantly across different neighborhoods. Each year, Blackburn 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. Understanding how Blackburn's property tax rate compares with other areas in Lafayette County and the national median provides valuable insights into the varying tax landscape across the region, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Blackburn Tax Rate
0.78%
Average Lafayette County Tax Rate
1.10%
Average Missouri Tax Rate
1.20%
Average United States Tax Rate
0.99%
Property Tax Rates Across Blackburn, Missouri
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 65321 | 0.76% | 0.78% | 0.78% | 1.01% | 1.02% |
Source: Ownwell
Property Tax Assessment Values Across Blackburn, Missouri
In Blackburn, 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 Lafayette 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 Blackburn, 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 Blackburn helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The zip code 65321 has the highest median tax bill at $766, while the lowest is also $766.
Average Blackburn Assessed Value
$98,540
Average Lafayette County Assessed Value
$57,532
Average Missouri Assessed Value
$129,505
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Blackburn, Missouri
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 65321 | $49,608 | $64,500 | $98,540 | $161,650 | $190,930 |
Source: Ownwell
Property Tax Bills Across Blackburn, Missouri
In Blackburn, located in Lafayette 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 Blackburn is $98,540. Homeowners can expect their property tax bills to vary significantly, with the 25th percentile at $486 and the 75th percentile reaching $1,634. The highest tax bills, in the 90th percentile, can go up to $1,954. These tax amounts are determined by multiplying the assessed value by the local tax rate. Factors such as property improvements, neighborhood developments, and changes in market conditions can affect the assessed value, thereby influencing the tax bill. For comparison, the national median property tax rate stands at 0.99%, highlighting that Blackburn's tax rates can be quite variable. Homeowners in Blackburn need to be aware of these factors as they can significantly impact their annual property tax obligations, influencing their overall financial planning and homeownership costs.
Average Blackburn Tax Bill
$766
Average Lafayette County Tax Bill
$641
Average Missouri Tax Bill
$1,606
Average United States Tax Bill
$2,690
Property Tax Bills Across Blackburn, Missouri
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 65321 | $379 | $486 | $766 | $1,634 | $1,954 |
Source: Ownwell