Salisbury, Missouri Property Taxes
The median property tax rate in Salisbury, MO is 1.00%, 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 $61,080, the typical annual property tax bill in Salisbury is $622, which is significantly below the national median of $2,690. Property taxes in Salisbury are calculated based on the tax assessed value, which often falls below the market value due to various exemptions like the primary residence and agricultural exemptions. Understanding Salisbury'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 Salisbury 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
Salisbury, Missouri Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1%
Estimate Property Tax Bill
$611
Ownwell’s Salisbury Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Salisbury with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Salisbury 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 Salisbury, Missouri
Property taxes in Salisbury, Missouri, are essential in funding critical local services such as public schools, road maintenance, and emergency services. The median tax rate in Salisbury is 1.00%, which is higher than the U.S. national median of 0.99%. Local government entities within Salisbury set these rates annually, and they can vary significantly across different neighborhoods. Each year, Salisbury 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 Salisbury's effective property tax rate to other counties in Missouri and the national median. For comparison, the 65281 zip code has the highest median property tax rate of 1.00%, while the same zip code also has the lowest median tax rate of 1.00%. Understanding how these cities compare with Salisbury provides valuable insights into the varying tax landscape across Randolph County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Salisbury Tax Rate
1.00%
Average Randolph County Tax Rate
1.24%
Average Missouri Tax Rate
1.20%
Average United States Tax Rate
0.99%
Property Tax Rates Across Salisbury, Missouri
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 65281 | 0.88% | 0.92% | 1.00% | 1.01% | 1.01% |
Source: Ownwell
Property Tax Assessment Values Across Salisbury, Missouri
In Salisbury, 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 Randolph 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 Salisbury, 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. The median home price in Salisbury is $61,080, with tax bills ranging from $500 at the 25th percentile to $1,451 at the 90th percentile. The zip code 65281 has the highest and lowest median tax bill of $622. Being aware of these valuation processes helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Salisbury Assessed Value
$61,080
Average Randolph County Assessed Value
$62,225
Average Missouri Assessed Value
$129,505
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Salisbury, Missouri
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 65281 | $47,664 | $52,695 | $61,080 | $113,870 | $145,544 |
Source: Ownwell
Property Tax Bills Across Salisbury, Missouri
In Salisbury, MO, property tax bills are calculated based on the assessed value of a home, which is a percentage of its market value. The median home price in Salisbury is $61,080. Property taxes are determined by multiplying the assessed value by the local tax rate, which in Randolph County is competitive compared to the national median property tax rate of 0.99%. Several factors influence the tax bill, including the property's location within the county, any applicable exemptions, and the specific tax rate set by local taxing authorities. For instance, the tax bill for the 25th percentile is $500, while the 75th percentile sees a tax bill of $1,140, and the 90th percentile reaches $1,451. This range highlights how property values and local tax rates can impact homeowners differently. Homeowners in Salisbury should be aware of these factors as they significantly affect their annual property tax obligations. Understanding how these elements interplay can help homeowners anticipate and manage their tax bills effectively.
Average Salisbury Tax Bill
$622
Average Randolph County Tax Bill
$705
Average Missouri Tax Bill
$1,606
Average United States Tax Bill
$2,690
Property Tax Bills Across Salisbury, Missouri
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 65281 | $427 | $500 | $622 | $1,140 | $1,451 |
Source: Ownwell