Bakersfield, Ozark County, Missouri Property Taxes
The median property tax rate in Bakersfield, MO is 1.05%, slightly higher than the national median of 0.99% but lower than Missouri's state median of 1.20%. With a median home value of $56,150, the typical annual property tax bill in Bakersfield is $613, which is significantly below the national median of $2,690. Property taxes in Bakersfield are calculated based on the tax assessed value, which often falls below the market value due to various exemptions, such as those for primary residences and agricultural properties. Understanding Bakersfield'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 Bakersfield 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
Bakersfield, Ozark County, Missouri Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.05%
Estimate Property Tax Bill
$590
$547
Ownwell’s Bakersfield Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Bakersfield with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Bakersfield 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 Bakersfield, Ozark County, Missouri
Property taxes in Bakersfield, Missouri, are vital in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Bakersfield is 1.05%, higher than both the Missouri state median and the U.S. national median of 0.99%. Local government entities within Bakersfield set these rates annually, and they can vary significantly across different neighborhoods. Each year, Bakersfield 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 Bakersfield's effective property tax rate to other counties in Missouri and the national median. For comparison, the 65609 zip code has the highest median property tax rate of 1.05%, while the 65609 zip code also has the lowest median tax rate of 1.05%. Understanding how these cities compare with Bakersfield provides valuable insights into the varying tax landscape across Ozark County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Bakersfield Tax Rate
1.05%
Average Ozark County Tax Rate
0.74%
Average Missouri Tax Rate
1.20%
Average United States Tax Rate
0.99%
Property Tax Rates Across Bakersfield, Ozark County, Missouri
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 65609 | 0.94% | 1.02% | 1.05% | 1.15% | 1.15% |
Source: Ownwell
Property Tax Assessment Values Across Bakersfield, Ozark County, Missouri
In Bakersfield, 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 Ozark 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 Bakersfield, 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, the highest median tax bill in the area is $613.00 in the 65609 zip code. 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 Bakersfield helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Property Tax Assessment Values Across Bakersfield, Ozark County, Missouri
Source: Ownwell
$42,800
$63,450
$84,100
Average Bakersfield Assessed Value
$56,150
Average Ozark County Assessed Value
$64,800
Average Missouri Assessed Value
$129,505
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Bakersfield, Ozark County, Missouri
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 65609 | $18,630 | $32,025 | $56,150 | $102,050 | $128,010 |
Source: Ownwell
Property Tax Bills Across Bakersfield, Ozark County, Missouri
In Bakersfield, located in Ozark County, MO, property tax bills are calculated based on the assessed value of a home, which is a percentage of its market value. For example, if a home's market value is $56,150, the assessed value will be a fraction of this amount, as determined by local assessment rates. Once the assessed value is established, the local property tax rate is applied to calculate the tax bill. Several factors influence the final tax bill, including local government budgets, school funding needs, and other community services. In Bakersfield, the property tax bill can vary significantly. Homeowners in the 25th percentile pay around $323, while those in the 75th percentile face bills of approximately $1,031. For those in the 90th percentile, the tax bill can reach up to $1,391. Compared to the national median property tax rate of 0.99%, Bakersfield's rates are influenced by local economic conditions and funding requirements, impacting homeowners differently based on their property's assessed value.
Average Bakersfield Tax Bill
$613
Average Ozark County Tax Bill
$481
Average Missouri Tax Bill
$1,606
Average United States Tax Bill
$2,690
Property Tax Bills Across Bakersfield, Ozark County, Missouri
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 65609 | $203 | $323 | $613 | $1,031 | $1,391 |
Source: Ownwell