Squires, Missouri Property Taxes
The median property tax rate in Squires, MO, is 0.66%, notably lower than both the national median of 0.99% and Missouri's state median of 1.20%. With a median home value of $66,900 in Squires, the typical annual property tax bill amounts to $437, significantly below the national median of $2,690. Property taxes in Squires 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 Squires' property tax system, exploring available exemptions, and identifying opportunities for reductions can result in substantial annual savings. Whether you're in the heart of Squires or another part of Ozark County, comprehending the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Squires, 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 Squires Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Squires with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Squires 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 Squires, Missouri
Property taxes in Squires, Missouri, are essential for funding crucial local services such as public schools, road maintenance, and emergency services. The median tax rate in Squires is 0.66%, which is lower than both the Missouri state median and the U.S. national median of 0.99%. Local government entities within Squires set these rates annually, and they can vary significantly across different neighborhoods. Each year, Squires 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 Squires' effective property tax rate to other counties in Missouri and the national median. For comparison, the zip code 65755 has both the highest and lowest median property tax rate of 0.66%. Understanding how these cities compare with Squires 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 Squires Tax Rate
0.66%
Average Ozark County Tax Rate
0.74%
Average Missouri Tax Rate
1.20%
Average United States Tax Rate
0.99%
Property Tax Rates Across Squires, Missouri
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 65755 | 0.59% | 0.63% | 0.66% | 0.73% | 0.74% |
Source: Ownwell
Property Tax Assessment Values Across Squires, Missouri
Understanding the difference between "market value" and "assessed value" is crucial for comprehending property taxes in Squires, Missouri. The market value represents 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 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 Squires, 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 Squires helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. For instance, the zip code 65755 in Squires has the highest and lowest median tax bill at $437. By understanding these details, homeowners can make informed decisions about their property taxes.
Average Squires Assessed Value
$66,900
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 Squires, Missouri
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 65755 | $27,000 | $43,100 | $66,900 | $96,600 | $143,500 |
Source: Ownwell
Property Tax Bills Across Squires, Missouri
In Squires, located in Ozark 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 property's market value. For instance, if a home has a median market price of $66,900, the assessed value will be a fraction of this amount, depending on local assessment ratios. Once the assessed value is established, the tax rate, set by local taxing authorities, is applied. Homeowners in Squires experience varying tax bills. The 25th percentile tax bill is around $292, while those in the 75th percentile pay approximately $653. For those at the 90th percentile, the tax bill can reach up to $973. These figures illustrate the range of property tax burdens within the community. Comparatively, the highest and lowest median tax bills in the area are both $437, indicating some consistency in tax assessments. This system ensures that property taxes are proportionate to the value of the property, impacting homeowners differently based on their property’s assessed value.
Average Squires Tax Bill
$437
Average Ozark County Tax Bill
$481
Average Missouri Tax Bill
$1,606
Average United States Tax Bill
$2,690
Property Tax Bills Across Squires, Missouri
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 65755 | $169 | $292 | $437 | $653 | $973 |
Source: Ownwell