Linneus, Linn County, Missouri Property Taxes
The median property tax rate in Linneus, MO is 1.01%, slightly higher than the national median of 0.99% but lower than the Missouri state median of 1.20%. With the median home value in Linneus at $34,350, the typical annual property tax bill is $336, which is significantly below the national median of $2,690. Property taxes in Linneus are calculated based on the tax assessed value, which often falls below the market value due to exemptions such as those for primary residences and agricultural properties. Understanding Linneus'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 Linneus 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
Linneus, Linn County, Missouri Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.01%
Estimate Property Tax Bill
$347
$322
Ownwell’s Linneus Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Linneus with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Linneus 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 Linneus, Linn County, Missouri
Property taxes in Linneus, Missouri, are essential for funding crucial local services such as public schools, road maintenance, and emergency services. The median tax rate in Linneus is 0.87%, which is lower than both the Missouri state median of 0.97% and the U.S. national median of 0.99%. Local government entities within Linneus set these rates annually, and they can vary significantly across different neighborhoods. Each year, Linneus 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 Linneus's effective property tax rate to other counties in Missouri and the national median. For comparison, the 64653 zip code has the highest median property tax rate of 0.87%, while the same zip code also has the lowest median tax rate of 0.87%. Understanding how these cities compare with Linneus provides valuable insights into the varying tax landscape across Linn County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Linneus Tax Rate
1.01%
Average Linn County Tax Rate
1.13%
Average Missouri Tax Rate
1.20%
Average United States Tax Rate
0.99%
Property Tax Rates Across Linneus, Linn County, Missouri
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 64653 | 0.77% | 0.80% | 1.01% | 1.34% | 1.41% |
Source: Ownwell
Property Tax Assessment Values Across Linneus, Linn County, Missouri
In Linneus, 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 Linn 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 Linneus, 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 Linneus 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 $336 in the 64653 zip code, while the lowest median tax bill is also $336 in the same zip code.
Property Tax Assessment Values Across Linneus, Linn County, Missouri
Source: Ownwell
$9,900
$40,150
$70,400
Average Linneus Assessed Value
$34,350
Average Linn County Assessed Value
$25,200
Average Missouri Assessed Value
$129,505
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Linneus, Linn County, Missouri
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 64653 | $1,700 | $6,500 | $34,350 | $78,825 | $141,900 |
Source: Ownwell
Property Tax Bills Across Linneus, Linn County, Missouri
In Linneus, located in Linn County, MO, property tax bills are determined based on the assessed value of a home, which is a percentage of its market value. The assessed value is then multiplied by the local tax rate to calculate the tax bill. For example, the median home price in Linneus is $34,350. The tax bills in this area can vary significantly, with the 25th percentile at $92, the 75th percentile at $863, and the 90th percentile reaching up to $1,441. Factors influencing the tax bill include the property's assessed value, local tax rates, and any applicable exemptions or deductions. Compared to the national median property tax rate of 0.99%, homeowners in Linneus may find their tax bills relatively manageable. However, the variation in tax amounts can affect homeowners differently, impacting their annual budgets and financial planning. Understanding these factors can help homeowners anticipate their property tax responsibilities and plan accordingly.
Average Linneus Tax Bill
$336
Average Linn County Tax Bill
$264
Average Missouri Tax Bill
$1,606
Average United States Tax Bill
$2,690
Property Tax Bills Across Linneus, Linn County, Missouri
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 64653 | $21 | $92 | $336 | $863 | $1,441 |
Source: Ownwell