Peace Valley, Oregon County, Missouri Property Taxes
The median property tax rate in Peace Valley, MO is 0.61%, significantly lower than both the national median of 0.99% and Missouri's state median of 1.20%. With the median home value in Peace Valley at $60,110, the typical annual property tax bill amounts to $348, far below the national median of $2,690. Property taxes in Peace Valley are calculated based on the tax assessed value, which is often less than the market value due to various exemptions such as primary residence and agricultural exemptions. Understanding Peace Valley'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 Peace Valley 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
Peace Valley, Oregon County, Missouri Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.61%
Estimate Property Tax Bill
$367
$340
Ownwell’s Peace Valley Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Peace Valley with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Peace Valley 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 Peace Valley, Oregon County, Missouri
Property taxes in Peace Valley, Missouri, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Peace Valley is 0.61%, which is lower than the U.S. national median of 0.99%. Local government entities within Peace Valley set these rates annually, and they can vary significantly across different neighborhoods. Each year, Peace Valley 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 Peace Valley's effective property tax rate to other areas in Missouri and the national median. For comparison, the zip code 65788 has both the highest and lowest median property tax rate in the region, standing at 0.61%. Understanding how these areas compare with Peace Valley provides valuable insights into the varying tax landscape across Oregon County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Peace Valley Tax Rate
0.61%
Average Oregon County Tax Rate
0.77%
Average Missouri Tax Rate
1.20%
Average United States Tax Rate
0.99%
Property Tax Rates Across Peace Valley, Oregon County, Missouri
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 65788 | 0.56% | 0.58% | 0.61% | 0.64% | 0.66% |
Source: Ownwell
Property Tax Assessment Values Across Peace Valley, Oregon County, Missouri
In Peace Valley, 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 Oregon 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. 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 Peace Valley helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The median home price in Peace Valley is $60,110, with annual tax bills ranging from $233 at the 25th percentile to $660 at the 90th percentile. Notably, the highest and lowest median tax bills are both $348 in the 65788 zip code.
Property Tax Assessment Values Across Peace Valley, Oregon County, Missouri
Source: Ownwell
$37,490
$48,800
$60,110
Average Peace Valley Assessed Value
$60,110
Average Oregon County Assessed Value
$40,755
Average Missouri Assessed Value
$129,505
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Peace Valley, Oregon County, Missouri
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 65788 | $28,772 | $39,090 | $60,110 | $100,145 | $108,426 |
Source: Ownwell
Property Tax Bills Across Peace Valley, Oregon County, Missouri
In Peace Valley, located in Oregon County, MO, property tax bills are calculated based on the assessed value of a home, which is determined by the county assessor. The assessed value is a percentage of the market value of the property. Factors like property size, location, and improvements can influence this assessed value. Homeowners in Peace Valley see a range of property tax bills. For instance, the 25th percentile tax bill is around $233, while the 75th percentile tax bill reaches approximately $546. At the higher end, the 90th percentile tax bill is about $660. These figures reflect the variability in property values and the corresponding tax obligations. Compared to the national median property tax rate of 0.99%, Peace Valley's tax bills are relatively modest. This can be beneficial for homeowners, as lower property taxes can make homeownership more affordable and potentially attract more residents to the area. Understanding these factors helps homeowners anticipate their tax responsibilities and manage their finances effectively.
Average Peace Valley Tax Bill
$348
Average Oregon County Tax Bill
$286
Average Missouri Tax Bill
$1,606
Average United States Tax Bill
$2,690
Property Tax Bills Across Peace Valley, Oregon County, Missouri
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 65788 | $184 | $233 | $348 | $546 | $660 |
Source: Ownwell