Newburg, Missouri Property Taxes
The median property tax rate in Newburg, MO is 0.70%, significantly lower than both the national median of 0.99% and the Missouri state median of 1.20%. With a median home value of $73,629 in Newburg, the typical annual property tax bill amounts to $562, which is well below the national median of $2,690. Property taxes in Newburg are calculated based on the tax assessed value, which is often lower than the market value due to exemptions like primary residence and agricultural exemptions. Understanding Newburg'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 Newburg or another part of the city, grasping the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Newburg, Missouri Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.7%
Estimate Property Tax Bill
$515
Ownwell’s Newburg Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Newburg with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Newburg 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 Newburg, Missouri
Property taxes in Newburg, Missouri, are crucial for funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Newburg is 0.70%, which is lower than the U.S. national median of 0.99%. Local government entities within Newburg set these rates annually, and they can vary significantly across different neighborhoods. Each year, Newburg 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 Newburg's effective property tax rate to other counties in Missouri and the national median. For comparison, the zip code 65550 has the highest median property tax rate of 0.70%, while the same zip code also has the lowest median tax rate of 0.70%. Understanding how these cities compare with Newburg provides valuable insights into the varying tax landscape across Pulaski County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Newburg Tax Rate
0.70%
Average Pulaski County Tax Rate
0.74%
Average Missouri Tax Rate
1.20%
Average United States Tax Rate
0.99%
Property Tax Rates Across Newburg, Missouri
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 65550 | 0.67% | 0.70% | 0.70% | 0.74% | 0.90% |
Source: Ownwell
Property Tax Assessment Values Across Newburg, Missouri
In Newburg, 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 Pulaski 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 Newburg, 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 Newburg helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The zip code 65550 has the highest and lowest median tax bill, both at $562.
Average Newburg Assessed Value
$73,629
Average Pulaski County Assessed Value
$115,944
Average Missouri Assessed Value
$129,505
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Newburg, Missouri
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 65550 | $14,366 | $36,120 | $73,629 | $131,716 | $178,515 |
Source: Ownwell
Property Tax Bills Across Newburg, Missouri
In Newburg, located in Pulaski County, MO, property tax bills are calculated based on the assessed value of a home, which is a percentage of the market value. The median home price in Newburg is $73,629. To determine the tax bill, local tax rates are applied to the assessed value of the property. Various factors such as property size, location, and improvements can influence the assessed value. The tax bill in Newburg can range significantly. For example, homeowners in the 25th percentile pay around $261, while those in the 75th percentile pay about $984. At the higher end, the 90th percentile sees tax bills reaching up to $1,255. The highest and lowest median tax bills in the area are both $562, found in the 65550 zip code. These property taxes fund essential public services such as schools, emergency services, and infrastructure. As a result, homeowners need to budget for these annual expenses to ensure they can maintain their property and contribute to the community.
Average Newburg Tax Bill
$562
Average Pulaski County Tax Bill
$872
Average Missouri Tax Bill
$1,606
Average United States Tax Bill
$2,690
Property Tax Bills Across Newburg, Missouri
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 65550 | $122 | $261 | $562 | $984 | $1,255 |
Source: Ownwell