Sumner, Missouri Property Taxes
The median property tax rate in Sumner, MO is 0.96%, slightly lower than the national median of 0.99% and significantly below Missouri's state median of 1.20%. With the median home value in Sumner, the typical annual property tax bill reaches $2,171, which is lower than the national median of $2,690. Property taxes in Sumner are calculated based on the tax assessed value, which often falls below the market value due to various exemptions like the primary residence and agricultural exemptions. Understanding Sumner'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 Sumner 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
Sumner, Missouri Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.96%
Estimate Property Tax Bill
$1,831
Ownwell’s Sumner Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Sumner with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Sumner 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 Sumner, Missouri
Property taxes in Sumner, Missouri, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Sumner is 0.96%, slightly lower than the U.S. national median of 0.99%. Local government entities within Sumner set these rates annually, and they can vary significantly across different neighborhoods. Each year, Sumner 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 Sumner's effective property tax rate to other counties in Missouri and the national median. For comparison, the 64681 zip code has both the highest and lowest median property tax rate of 0.96%. Understanding how these cities compare with Sumner 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 Sumner Tax Rate
0.96%
Average Linn County Tax Rate
1.13%
Average Missouri Tax Rate
1.20%
Average United States Tax Rate
0.99%
Property Tax Rates Across Sumner, Missouri
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 64681 | 0.86% | 0.92% | 0.96% | 1.03% | 1.13% |
Source: Ownwell
Property Tax Assessment Values Across Sumner, Missouri
In Sumner, 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 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 Sumner, 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 Sumner helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The zip code with the highest median tax bill is 64681, with a median tax bill of $2,171.
Average Sumner Assessed Value
$190,750
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 Sumner, Missouri
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 64681 | $67,200 | $87,000 | $190,750 | $333,825 | $424,410 |
Source: Ownwell
Property Tax Bills Across Sumner, Missouri
In Sumner, Linn County, MO, property tax bills are calculated based on the assessed value of a home, which is determined by the local tax assessor. The assessed value is a percentage of the property's market value. For homeowners in Sumner, the median home price is $190,750. Property tax rates in the area can vary, but the national median property tax rate is 0.99%. Several factors influence the final tax bill, including the property's assessed value, the local tax rate, and any applicable exemptions or reductions. For example, the 25th percentile tax bill in Sumner is $808, while the 75th percentile tax bill is $3,735, indicating a wide range of possible tax amounts based on property values and exemptions. The highest median tax bill recorded in the area is $2,171, which is significantly above the national median. These property tax bills impact homeowners by contributing to local services such as schools, infrastructure, and emergency services, making it essential for homeowners to understand how their tax bills are calculated and what factors may affect them.
Average Sumner Tax Bill
$2,171
Average Linn County Tax Bill
$264
Average Missouri Tax Bill
$1,606
Average United States Tax Bill
$2,690
Property Tax Bills Across Sumner, Missouri
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 64681 | $587 | $808 | $2,171 | $3,735 | $4,314 |
Source: Ownwell