Leonard, Shelby County, Missouri Property Taxes
The median property tax rate in Leonard, MO is 0.72%, significantly lower than both the national median of 0.99% and the Missouri state median of 1.20%. With a median home value of $72,900 in Leonard, the typical annual property tax bill is $577, which is well below the national median of $2,690. Property taxes in Leonard are calculated based on the tax assessed value, which is often less than the market value due to exemptions like those for primary residences and agricultural land. Understanding Leonard's property tax system, exploring available exemptions, and identifying opportunities for reductions can result in substantial annual savings. Whether you're in the heart of Leonard or another part of the city, comprehending the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Leonard, Shelby County, Missouri Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.72%
Estimate Property Tax Bill
$525
$487
Ownwell’s Leonard Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Leonard with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Leonard 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 Leonard, Shelby County, Missouri
Property taxes in Leonard, Missouri, are essential for funding critical local services such as public schools, road maintenance, and emergency services. The median tax rate in Leonard is 0.72%, which is lower than the U.S. national median of 0.99%. Local government entities within Leonard set these rates annually, and they can vary significantly across different neighborhoods. Each year, Leonard 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 Leonard's effective property tax rate to other counties in Missouri and the national median. For comparison, the zip code 63451 has the highest and lowest median property tax rate of 0.72%. Understanding how these areas compare with Leonard provides valuable insights into the varying tax landscape across Shelby County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Leonard Tax Rate
0.72%
Average Shelby County Tax Rate
0.87%
Average Missouri Tax Rate
1.20%
Average United States Tax Rate
0.99%
Property Tax Rates Across Leonard, Shelby County, Missouri
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 63451 | 0.68% | 0.68% | 0.72% | 0.88% | 1.06% |
Source: Ownwell
Property Tax Assessment Values Across Leonard, Shelby County, Missouri
Understanding the difference between "market value" and "assessed value" is crucial for comprehending property taxes in Leonard, Missouri. 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. In Leonard, 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 Leonard helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. In Shelby County, the median home price is $72,900, with the highest median tax bill being $577 in the 63451 zip code.
Property Tax Assessment Values Across Leonard, Shelby County, Missouri
Source: Ownwell
$25,900
$59,225
$92,550
Average Leonard Assessed Value
$72,900
Average Shelby County Assessed Value
$56,500
Average Missouri Assessed Value
$129,505
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Leonard, Shelby County, Missouri
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 63451 | $13,460 | $33,450 | $72,900 | $147,450 | $284,640 |
Source: Ownwell
Property Tax Bills Across Leonard, Shelby County, Missouri
In Leonard, Shelby 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 home's market value. Homeowners in Leonard experience property tax bills that vary significantly, reflecting differences in property values and tax rates. For example, the 25th percentile tax bill is $251, while the 75th percentile reaches $1,250, and the 90th percentile goes up to $2,306. These variations are influenced by factors such as property size, location, and improvements made to the home. Homeowners in Leonard should be aware that their property tax bills can be higher or lower depending on these factors. Compared to the national median property tax rate of 0.99%, Leonard's tax bills can be relatively modest or quite substantial, depending on individual circumstances. Understanding how these elements affect property taxes can help homeowners better anticipate their annual tax obligations.
Average Leonard Tax Bill
$577
Average Shelby County Tax Bill
$514
Average Missouri Tax Bill
$1,606
Average United States Tax Bill
$2,690
Property Tax Bills Across Leonard, Shelby County, Missouri
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 63451 | $94 | $251 | $577 | $1,250 | $2,306 |
Source: Ownwell