Loma Linda, Missouri Property Taxes
The median property tax rate in Loma Linda, MO is 1.32%, considerably higher than both the national median of 0.99% and the Missouri state median of 1.20%. With the median home value in Loma Linda at $190,900, the typical annual property tax bill reaches $2,581, slightly below the national median of $2,690. Property taxes in Loma Linda 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 Loma Linda'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 Loma Linda 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
Loma Linda, 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 Loma Linda Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Loma Linda with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Loma Linda 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 Loma Linda, Missouri
Property taxes in Loma Linda, Missouri, are vital in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Loma Linda is 1.32%, significantly higher than both the Missouri state median and the U.S. national median of 0.99%. Local government entities within Loma Linda set these rates annually, and they can vary significantly across different neighborhoods. Each year, Loma Linda 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 Loma Linda's effective property tax rate to other counties in Missouri and the national median. For comparison, the 64804 zip code has the highest median property tax rate of 1.32%, while the 64804 zip code also has the lowest median tax rate of 1.32%. Understanding how these cities compare with Loma Linda provides valuable insights into the varying tax landscape across Newton County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Loma Linda Tax Rate
1.32%
Average Newton County Tax Rate
1.09%
Average Missouri Tax Rate
1.20%
Average United States Tax Rate
0.99%
Property Tax Rates Across Loma Linda, Missouri
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 64804 | 1.32% | 1.32% | 1.32% | 1.35% | 1.50% |
Source: Ownwell
Property Tax Assessment Values Across Loma Linda, Missouri
In Loma Linda, 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 Newton 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 Loma Linda, 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 example, the median home price in Loma Linda is $190,900, with the 25th percentile tax bill at $2,065 and the 75th percentile tax bill at $3,142. The highest median tax bill is $2,581 in zip code 64804, which is also the lowest median tax bill in the area. By understanding these valuation concepts, property owners can better navigate their tax responsibilities and identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Loma Linda Assessed Value
$190,900
Average Newton County Assessed Value
$71,800
Average Missouri Assessed Value
$129,505
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Loma Linda, Missouri
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 64804 | $115,170 | $144,875 | $190,900 | $230,500 | $287,220 |
Source: Ownwell
Property Tax Bills Across Loma Linda, Missouri
In Loma Linda, located in Newton County, MO, property tax bills are calculated based on the assessed value of a home, which is a percentage of its market value. The median home price in Loma Linda is $190,900. Homeowners’ tax bills can vary significantly depending on the assessed value and the local tax rate. The 25th percentile tax bill is $2,065, while the 75th percentile tax bill reaches $3,142, and the 90th percentile tax bill goes up to $3,949. These figures indicate a range in property tax burdens within the city. Several factors influence the final tax bill, including the home's market value, assessment ratio, and the local tax rate. Compared to the national median property tax rate of 0.99%, the rates in Loma Linda can lead to a substantial annual tax bill. This variation in tax bills can impact homeowners differently, affecting their financial planning and overall cost of homeownership. The highest and lowest median tax bills in the area are both $2,581, found in the 64804 zip code.
Average Loma Linda Tax Bill
$2,581
Average Newton County Tax Bill
$791
Average Missouri Tax Bill
$1,606
Average United States Tax Bill
$2,690
Property Tax Bills Across Loma Linda, Missouri
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 64804 | $1,604 | $2,065 | $2,581 | $3,142 | $3,949 |
Source: Ownwell