Loose Creek, Missouri Property Taxes
The median property tax rate in Loose Creek, MO is 0.89%, which is lower than both the national median of 0.99% and the Missouri state median of 1.20%. With a median home value of $32,598 in Loose Creek, the typical annual property tax bill is about $308, significantly below the national median of $2,690. Property taxes in Loose Creek are calculated based on the tax assessed value, which usually falls below the market value due to various exemptions such as those for primary residences and agricultural properties. Understanding Loose Creek'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 Loose Creek or another part of Osage County, grasping the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Loose Creek, Missouri Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.89%
Estimate Property Tax Bill
$290
Ownwell’s Loose Creek Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Loose Creek with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Loose Creek 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 Loose Creek, Missouri
Property taxes in Loose Creek, Missouri, are vital in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Loose Creek is 0.89%, slightly lower than the U.S. national median of 0.99%. Local government entities within Loose Creek set these rates annually, and they can vary significantly across different neighborhoods. Each year, Loose Creek 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 Loose Creek's effective property tax rate to other areas in Missouri and the national median. For comparison, the zip code 65054 has both the highest and lowest median property tax rate of 0.89%. Understanding how these cities compare with Loose Creek provides valuable insights into the varying tax landscape across Osage County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Loose Creek Tax Rate
0.89%
Average Osage County Tax Rate
0.86%
Average Missouri Tax Rate
1.20%
Average United States Tax Rate
0.99%
Property Tax Rates Across Loose Creek, Missouri
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 65054 | 0.59% | 0.69% | 0.89% | 0.90% | 1.12% |
Source: Ownwell
Property Tax Assessment Values Across Loose Creek, Missouri
In Loose Creek, 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 Osage 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 Loose Creek, 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 Loose Creek helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The zip code 65054 has the highest and lowest median tax bill, both at $308.
Average Loose Creek Assessed Value
$32,598
Average Osage County Assessed Value
$30,816
Average Missouri Assessed Value
$129,505
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Loose Creek, Missouri
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 65054 | $11,829 | $18,547 | $32,598 | $83,174 | $128,390 |
Source: Ownwell
Property Tax Bills Across Loose Creek, Missouri
In Loose Creek, located in Osage County, MO, property tax bills are calculated based on the assessed value of a property, which is a percentage of its market value. The median home price in this area is $32,598. The local property tax rate is applied to this assessed value to determine the tax bill. Factors such as the property's location, improvements, and land value are considered in the assessment process. Homeowners in Loose Creek may see a wide range of property tax bills. For instance, the 25th percentile tax bill is $125, while the 75th percentile tax bill is $639. Those in the 90th percentile could face tax bills up to $1,294. The highest and lowest median tax bills in the area both stand at $308, highlighting a relatively consistent tax rate within the zip code 65054. This variation in tax bills can significantly impact homeowners' financial planning, particularly when compared to the national median property tax rate of 0.99%.
Average Loose Creek Tax Bill
$308
Average Osage County Tax Bill
$261
Average Missouri Tax Bill
$1,606
Average United States Tax Bill
$2,690
Property Tax Bills Across Loose Creek, Missouri
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 65054 | $90 | $125 | $308 | $639 | $1,294 |
Source: Ownwell