Shelbyville, Missouri Property Taxes
The median property tax rate in Shelbyville, MO is 0.83%, which is lower than both the national median of 0.99% and the Missouri state median of 1.20%. With the median home value in Shelbyville at $64,900, the typical annual property tax bill amounts to $532, significantly below the national median of $2,690. Property taxes in Shelbyville are calculated based on the tax assessed value, which often falls below the market value due to various exemptions, including primary residence and agricultural exemptions. Understanding Shelbyville'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 Shelbyville 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
Shelbyville, Missouri Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.83%
Estimate Property Tax Bill
$539
Ownwell’s Shelbyville Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Shelbyville with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Shelbyville 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 Shelbyville, Missouri
Property taxes in Shelbyville, Missouri, are essential for funding local services such as public schools, road maintenance, and emergency services. The median tax rate in Shelbyville is 0.83%, which is lower than the U.S. national median of 0.99%. Local government entities within Shelbyville set these rates annually, and they can vary significantly across different neighborhoods. Each year, Shelbyville 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 Shelbyville's effective property tax rate to other counties in Missouri and the national median. For comparison, the 63469 zip code has both the highest and lowest median property tax rate of 0.83%. Understanding how these rates compare with Shelbyville 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 Shelbyville Tax Rate
0.83%
Average Shelby County Tax Rate
0.87%
Average Missouri Tax Rate
1.20%
Average United States Tax Rate
0.99%
Property Tax Rates Across Shelbyville, Missouri
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 63469 | 0.68% | 0.68% | 0.83% | 1.02% | 1.32% |
Source: Ownwell
Property Tax Assessment Values Across Shelbyville, Missouri
In Shelbyville, 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 Shelby 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 Shelbyville, 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 Shelbyville helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The zip code with the highest median tax bill is 63469, with a median bill of $532.
Average Shelbyville Assessed Value
$64,900
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 Shelbyville, Missouri
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 63469 | $11,380 | $30,700 | $64,900 | $114,500 | $183,060 |
Source: Ownwell
Property Tax Bills Across Shelbyville, Missouri
In Shelbyville, MO, property tax bills are calculated based on the assessed value of a home, which is a percentage of its market value. For instance, with a median home price of $64,900, the assessed value is determined and then multiplied by the local tax rate to calculate the tax bill. This rate varies, but it ultimately affects how much homeowners will pay annually. Several factors influence the tax bill, including the property's location within Shelby County, its assessed value, and any applicable exemptions. The tax bill can significantly impact homeowners' finances, with the 25th percentile paying around $253, while those in the 75th percentile face a bill of $989. The highest tax bills, in the 90th percentile, can reach up to $1,681. Comparatively, the median tax bill in the area is $532, which aligns with the national median property tax rate of 0.99%. Understanding these factors helps homeowners anticipate their annual property tax obligations and manage their budgets more effectively.
Average Shelbyville Tax Bill
$532
Average Shelby County Tax Bill
$514
Average Missouri Tax Bill
$1,606
Average United States Tax Bill
$2,690
Property Tax Bills Across Shelbyville, Missouri
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 63469 | $107 | $253 | $532 | $989 | $1,681 |
Source: Ownwell