Leadwood, Missouri Property Taxes
The median property tax rate in Leadwood, MO is 1.31%, considerably higher than both the national median of 0.99% and the Missouri state median of 1.20%. With the median home value in Leadwood at $6,100, the typical annual property tax bill reaches $90, which is significantly lower than the national median of $2,690. Property taxes in Leadwood 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 Leadwood'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 Leadwood 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
Leadwood, Missouri Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.31%
Estimate Property Tax Bill
$80
Ownwell’s Leadwood Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Leadwood with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Leadwood 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 Leadwood, Missouri
Property taxes in Leadwood, Missouri, are essential for funding crucial local services such as public schools, road maintenance, and emergency services. The median tax rate in Leadwood is 1.16%, higher than the Missouri state median of 0.93% and the U.S. national median of 0.99%. Local government entities within Leadwood set these rates annually, and they can vary significantly across different neighborhoods. Each year, Leadwood 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 Leadwood's effective property tax rate to other counties in Missouri and the national median. For comparison, 63101 has the highest median property tax rate of 1.35%, while 65201 has the lowest median tax rate of 0.70%. Understanding how these cities compare with Leadwood provides valuable insights into the varying tax landscape across St. Francois County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Leadwood Tax Rate
1.31%
Average Morgan County Tax Rate
0.87%
Average Missouri Tax Rate
1.20%
Average United States Tax Rate
0.99%
Property Tax Rates Across Leadwood, Missouri
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|
Source: Ownwell
Property Tax Assessment Values Across Leadwood, Missouri
Understanding the difference between "market value" and "assessed value" is crucial for comprehending property taxes in Leadwood, Missouri. 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 Morgan 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 Leadwood, 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. For instance, homes in the 63653 zip code can see tax bills ranging from $68 at the 25th percentile to $1964 at the 90th percentile. 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 Leadwood helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Leadwood Assessed Value
$6,100
Average Morgan County Assessed Value
$49,350
Average Missouri Assessed Value
$129,505
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Leadwood, Missouri
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|
Source: Ownwell
Property Tax Bills Across Leadwood, Missouri
In Leadwood, property tax bills are calculated based on the assessed value of a property, which is a percentage of its market value. The assessed value is then multiplied by the local tax rate to determine the annual tax bill. Factors such as property improvements, neighborhood changes, and market trends can influence the assessed value. For homeowners in Leadwood, the median home price is $6,100, significantly lower than the national median, which results in relatively lower property tax bills. Homeowners in Leadwood can expect their tax bills to vary widely. At the 25th percentile, the tax bill is $68, reflecting the lower end of the housing market. Meanwhile, the 75th percentile tax bill is $1,261, and the 90th percentile reaches $1,964, indicating higher-valued properties. These variations highlight how property values and local tax rates directly impact the financial responsibilities of homeowners. Understanding these factors can help homeowners anticipate their annual property tax obligations and plan their finances accordingly.
Average Leadwood Tax Bill
$90
Average Morgan County Tax Bill
$420
Average Missouri Tax Bill
$1,606
Average United States Tax Bill
$2,690
Property Tax Bills Across Leadwood, Missouri
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|
Source: Ownwell