Licking, Phelps County, Missouri Property Taxes

Name: Property Tax Bills Across Licking, Phelps County, Missouri
Creator: Ownwell
License: https://creativecommons.org/licenses/by-nc/4.0/

Median Licking, MO effective property tax rate: 0.61%, significantly lower than the national median of 1.02%, but lower than the Missouri state median of 1.20%.
Median Licking, MO home value: $80,840
Median annual Licking, MO tax bill: $497, $1,903 lower than the national median property tax bill of $2,400.

How are property taxes in Phelps calculated?

Property taxes in Licking, MO are calculated based on the tax assessed value, which is often lower than the actual market value due to property tax exemptions such as the homestead or senior exemption.

Understanding Licking’s property tax system, exemptions, and reduction opportunities can lead to significant savings. Regardless of where you live in Licking, knowing local tax details benefits homeowners and investors.

Last Updated March 1, 2025

Licking, Phelps County, Missouri Property Tax Bill Calculator

Property Assessed Value

$100,000

$1,500,000

$3,000,000

Median Effective Tax Rate

0.61%

Estimate Property Tax Bill

$493

$458

Ownwell’s Licking Property Tax Bill Calculator empowers homeowners, real estate investors, and potential buyers to estimate their annual property taxes in Licking with just two data points. By entering your property's estimated assessed value, our calculator applies Licking’s median effective tax rate to accurately estimate your property tax bill. Note that your property's assessed value — determined by your county — reflects any exemptions you may have, ensuring a precise calculation for your property tax obligations. This insightful tool helps you understand potential tax liabilities and highlights how Ownwell can assist in reducing property taxes in Phelps County. For those interested in more localized information, please scroll down to explore city-level trends!

Property Tax Rates Across Licking, Phelps County, Missouri

Local government entities set tax rates, which can vary widely within a state. This variation arises because each county estimates its required budget to provide services and divides that by the total value of all taxable property within its jurisdiction, resulting in the property tax rate. While votes and laws play a role in setting tax rates and budgets, this is the annual process in a nutshell.

In Licking, located in Texas County, Missouri, the effective property tax rate is notably lower than the national median of 1.02%. Missouri’s median property tax rate of 0.93% is also below the national average, reflecting the state's overall lower tax burden. Within Missouri, Licking’s effective tax rate is even more favorable compared to other cities in the state. This can be beneficial for property owners seeking to minimize their tax expenses while still enjoying the benefits of local services funded by these taxes. Comparing Licking’s property tax rate with the national median helps highlight the potential savings for homeowners in this region. Such savings can be a significant factor for those considering property investments or residency in Licking, Missouri.

Property Tax Rates Across Licking, Phelps County, Missouri

Source: Ownwell

0.61%

0.82%

1.03%

Our median effective property tax rate (tax bill ÷ assessor's market value) accounts for exemptions and deductions, making it more accurate than the general median tax rate, which is the midpoint of statutory rates before adjustments.

Median Effective Licking Tax Rate

0.61%

Median Effective Phelps County Tax Rate

0.98%

Median Effective Missouri Tax Rate

1.20%

Median Effective United States Tax Rate

1.02%

Property Tax Rates Across Licking, Phelps County, Missouri

Zip	10th Percentile	25th Percentile	Median Tax Rate	75th Percentile	90th Percentile
65542	N/A	N/A	N/A	N/A	N/A

Source: Ownwell

Property Tax Assessment Values Across Licking, Phelps County, Missouri

When examining property taxes in Licking, MO, understanding the distinction between "market value" and "assessed value" is crucial. The market value is what a willing buyer would pay to a willing seller in an open and competitive market, often influenced by location, property condition, and economic market trends. The Phelps County Assessor's Office estimates the market value for tax purposes. The assessed value is the market value minus any applicable exemptions or limits determined by local laws and offerings. The tax assessed value is the figure used to calculate your property taxes or the amount multiplied by your tax rate to get your tax bill. In Phelps County, assessment notices are sent in the spring each year. They’ll typically reach your mailbox by the middle of April. Each property owner receives an assessment notice that contains both the market value and assessed value, along with an estimate of your property tax bill. By providing insights into how assessed and market values are determined, this section helps property owners navigate their tax responsibilities and understand the valuation processes affecting their property taxes in Licking. For example, the median home price in Licking is $80,840, with tax bills ranging significantly across the county.

Property Tax Assessment Values Across Licking, Phelps County, Missouri

Source: Ownwell

$37,100

$78,532

$119,964

Median Licking Market Value

$80,840

Median Phelps County Market Value

$106,880

Median Missouri Market Value

$129,505

Median United States Market Value

$235,294

Property Tax Assessment Values Across Licking, Phelps County, Missouri

Zip	10th Percentile	25th Percentile	Median Home Price	75th Percentile	90th Percentile
65542	N/A	N/A	N/A	N/A	N/A

Source: Ownwell

Property Tax Bills Across Licking, Phelps County, Missouri

Property tax bills in Licking, Phelps County, MO, are calculated based on the assessed value of a property. The assessed value is typically a percentage of the property's market value, which is determined by local assessors. The median home price in the area is $80,840, which influences the assessed value and, consequently, the tax bill. Homeowners in Licking face a range of tax bills, with the 25th percentile at $444, the 75th percentile at $688, and the 90th percentile at $694. Compared to the national median property tax bill of $2,400, Licking's tax bills are relatively lower, providing some relief to homeowners. However, understanding how assessed values are determined and ensuring they are accurate is crucial for homeowners to avoid overpaying. Ownwell offers expertise in property tax appeals, helping homeowners navigate the complexities of the tax system. By analyzing property assessments and identifying discrepancies, Ownwell assists homeowners in potentially reducing their tax bills, ensuring they only pay their fair share.

Property Tax Bills Across Licking, Phelps County, Missouri

Source: Ownwell

$290

$748

$1,205

Median Licking Tax Bill

$497

Median Phelps County Tax Bill

$1,009

Median Missouri Tax Bill

$1,606

Median United States Tax Bill

$2,400

Property Tax Bills Across Licking, Phelps County, Missouri

Zip	10th Percentile	25th Percentile	Median Tax Bill	75th Percentile	90th Percentile
65542	N/A	N/A	N/A	N/A	N/A

Source: Ownwell