New London, Missouri Property Taxes
The median property tax rate in New London, MO is 0.90%, slightly below the national median of 0.99% and significantly lower than the Missouri state median of 1.20%. With a median home value of $85,430 in New London, the typical annual property tax bill amounts to $790, well below the national median of $2,690. Property taxes in New London are calculated based on the tax assessed value, which often falls below the market value due to various exemptions like primary residence and agricultural exemptions. Understanding New London'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 New London 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
New London, 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 New London Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in New London with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in New London 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 New London, Missouri
Property taxes in New London, Missouri, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in New London is 0.90%, slightly below the U.S. national median of 0.99%. Local government entities within New London set these rates annually, and they can vary significantly across different neighborhoods. Each year, New London 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 New London's effective property tax rate to other counties in Missouri and the national median. For comparison, the zip code 63459, which includes New London, has both the highest and lowest median property tax rate of 0.90%. Understanding how these cities compare with New London provides valuable insights into the varying tax landscape across Pike County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average New London Tax Rate
0.90%
Average Pike County Tax Rate
1.04%
Average Missouri Tax Rate
1.20%
Average United States Tax Rate
0.99%
Property Tax Rates Across New London, Missouri
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 63459 | 0.72% | 0.79% | 0.90% | 0.91% | 0.92% |
Source: Ownwell
Property Tax Assessment Values Across New London, Missouri
In New London, 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 local 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. In New London, the median home price is $85,430. The 25th percentile tax bill is $551, while the 75th percentile tax bill is $1,541, and the 90th percentile tax bill reaches $1,992. The zip code 63459 has the highest and lowest median tax bill of $790. Being aware of these valuation processes helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average New London Assessed Value
$85,430
Average Pike County Assessed Value
$71,050
Average Missouri Assessed Value
$129,505
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across New London, Missouri
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 63459 | $44,838 | $60,060 | $85,430 | $212,515 | $288,766 |
Source: Ownwell
Property Tax Bills Across New London, Missouri
Property tax bills in New London, Pike County, MO, are calculated based on the assessed value of a property, which is determined by the county assessor. The assessed value is a percentage of the property's market value, and this percentage can vary by property type and local regulations. Once the assessed value is established, it is multiplied by the local tax rate to determine the annual tax bill. Factors influencing the tax bill include the property's location, size, and condition, as well as any applicable exemptions or abatements. In New London, the median home price is $85,430, and property tax bills can vary significantly. For example, the 25th percentile tax bill is $551, while the 75th percentile tax bill is $1,541, and the 90th percentile tax bill reaches $1,992. This range indicates how different variables can impact the final amount homeowners are required to pay. Compared to the national median property tax rate of 0.99%, New London's tax rates can be seen as relatively moderate, providing some relief to homeowners in the area.
Average New London Tax Bill
$790
Average Pike County Tax Bill
$720
Average Missouri Tax Bill
$1,606
Average United States Tax Bill
$2,690
Property Tax Bills Across New London, Missouri
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 63459 | $407 | $551 | $790 | $1,541 | $1,992 |
Source: Ownwell