Concordia, Missouri Property Taxes
The median property tax rate in Concordia, MO is 1.18%, slightly higher than the national median of 0.99% but just below the Missouri state median of 1.20%. With a median home value of $65,850 in Concordia, the typical annual property tax bill is $848, which is significantly lower than the national median of $2,690. Property taxes in Concordia are calculated based on the tax assessed value, which is often lower than the market value due to exemptions such as those for primary residences and agricultural land. Understanding Concordia'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 Concordia or another part of Lafayette County, grasping the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Concordia, 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 Concordia Property Tax Bill Calculator is an essential tool for homeowners, real estate investors, and potential buyers to estimate their annual property taxes in Concordia with just two simple inputs. By entering your property's estimated assessed value, the calculator uses the median tax rate in Concordia to provide an accurate estimate of your property tax bill. This valuable resource helps you grasp potential tax liabilities and make informed financial decisions. For those interested in more detailed insights, you can explore trends on a neighborhood level by scrolling down for localized information. Your property’s assessed value is determined by the county for tax purposes, taking into account any applicable exemptions.
Property Tax Rates Across Concordia, Missouri
Property taxes in Concordia, Missouri, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Concordia is 1.18%, significantly higher than the U.S. national median of 0.99%. Local government entities within Concordia set these rates annually, and they can vary significantly across different neighborhoods. Each year, Concordia 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 Concordia's effective property tax rate to other counties in Missouri and the national median. For comparison, the 64020 zip code has the highest median property tax rate of 1.18%, while the same 64020 zip code also has the lowest median tax rate of 1.18%. Understanding how these cities compare with Concordia provides valuable insights into the varying tax landscape across Lafayette County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Concordia Tax Rate
1.18%
Average Lafayette County Tax Rate
1.10%
Average Missouri Tax Rate
1.20%
Average United States Tax Rate
0.99%
Property Tax Rates Across Concordia, Missouri
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 64020 | 0.75% | 0.95% | 1.18% | 1.36% | 1.36% |
Source: Ownwell
Property Tax Assessment Values Across Concordia, Missouri
In Concordia, 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 Assessor's Office 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. Assessment notices in Concordia 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. The median home price in Concordia is $65,850, with tax bills ranging from $445 at the 25th percentile to $2,683 at the 90th percentile. The zip code 64020 has both the highest and lowest median tax bill of $848. Being aware of these valuation processes helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Concordia Assessed Value
$65,850
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 Concordia, Missouri
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 64020 | $27,742 | $43,338 | $65,850 | $161,870 | $257,892 |
Source: Ownwell
Property Tax Bills Across Concordia, Missouri
In Concordia, located in Lafayette County, MO, property tax bills are calculated based on the assessed value of your home and the local tax rate. The assessed value is typically a percentage of the market value of the property. For homeowners in Concordia, the median home price is $65,850. The tax rate is then applied to this assessed value to determine the annual tax bill. Several factors influence the final tax bill, including property improvements, neighborhood developments, and changes in local government budgets. Homeowners in Concordia can expect their tax bills to vary widely: the 25th percentile tax bill is around $445, while the 75th percentile reaches $1,862, and the 90th percentile can be as high as $2,683. This variability can significantly impact household finances, making it essential for homeowners to stay informed about their property’s assessed value and any changes in tax rates. Compared to the national median property tax rate of 0.99%, Concordia's rates reflect the local economic conditions and municipal needs, directly affecting how much homeowners are required to pay annually.
Average Concordia Tax Bill
$848
Average Lafayette County Tax Bill
$641
Average Missouri Tax Bill
$1,606
Average United States Tax Bill
$2,690
Property Tax Bills Across Concordia, Missouri
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 64020 | $296 | $445 | $848 | $1,862 | $2,683 |
Source: Ownwell