Aurora, Missouri Property Taxes
The median property tax rate in Aurora, MO is 0.93%, which is lower than both the national median of 0.99% and Missouri's state median of 1.20%. With a median home value of $74,217 in Aurora, the typical annual property tax bill is $695, significantly below the national median of $2,690. Property taxes in Aurora are calculated based on the assessed value, which often falls below market value due to exemptions such as those for primary residences and agricultural properties. Understanding Aurora'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 Aurora or another part of Lawrence County, comprehending the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Aurora, Missouri Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.93%
Estimate Property Tax Bill
$690
Ownwell’s Aurora Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Aurora with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Aurora 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 Aurora, Missouri
Property taxes in Aurora, Missouri, play a crucial role in supporting essential local services, including public schools, road maintenance, and emergency services. The median tax rate in Aurora is 0.93%, which is lower than the U.S. national median of 0.99%. Local government entities within Aurora set these rates annually, and they can vary significantly across different neighborhoods. Each year, Aurora 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 Aurora's effective property tax rate to other counties in Missouri and the national median. For comparison, the 65605 zip code has both the highest and lowest median property tax rate of 0.93%. Understanding how these cities compare with Aurora provides valuable insights into the varying tax landscape across Lawrence County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Aurora Tax Rate
0.93%
Average Lawrence County Tax Rate
0.92%
Average Missouri Tax Rate
1.20%
Average United States Tax Rate
0.99%
Property Tax Rates Across Aurora, Missouri
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 65605 | 0.84% | 0.90% | 0.93% | 0.95% | 0.95% |
Source: Ownwell
Property Tax Assessment Values Across Aurora, Missouri
In Aurora, 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 Lawrence 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 Aurora, 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 Aurora helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The highest and lowest median tax bills in Aurora are both $695.00, found in the zip code 65605.
Average Aurora Assessed Value
$74,217
Average Lawrence County Assessed Value
$87,220
Average Missouri Assessed Value
$129,505
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Aurora, Missouri
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 65605 | $21,568 | $38,367 | $74,217 | $137,771 | $216,675 |
Source: Ownwell
Property Tax Bills Across Aurora, Missouri
In Aurora, located in Lawrence County, MO, property tax bills are calculated based on the assessed value of a home, which is typically a percentage of its market value. The local tax rate is then applied to this assessed value to determine the annual tax bill. Various factors influence the assessed value, including the home's size, age, location, and condition. For homeowners in Aurora, the tax bill can vary significantly. For instance, the tax bill at the 25th percentile is $369, while at the 75th percentile, it rises to $1262, and at the 90th percentile, it reaches $2029. The median home price in Aurora is $74,217, which is relatively affordable compared to national averages. Understanding these property tax calculations is crucial for homeowners, as it directly impacts their annual expenses and long-term financial planning. The highest and lowest median tax bills in the area are both $695, indicating a consistent tax environment within the specific zip code 65605.
Average Aurora Tax Bill
$695
Average Lawrence County Tax Bill
$784
Average Missouri Tax Bill
$1,606
Average United States Tax Bill
$2,690
Property Tax Bills Across Aurora, Missouri
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 65605 | $214 | $369 | $695 | $1,262 | $2,029 |
Source: Ownwell