Advance, Missouri Property Taxes
The median property tax rate in Advance, MO is 0.81%, 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 Advance at $85,800, the typical annual property tax bill is $783, significantly below the national median of $2,690. Property taxes in Advance are calculated based on the tax assessed value, often lower than the market value due to exemptions like those for primary residences and agricultural properties. Understanding Advance'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 Advance or another part of Stoddard County, grasping the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Advance, Missouri Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.81%
Estimate Property Tax Bill
$695
Ownwell’s Advance Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Advance with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Advance 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 Advance, Missouri
Property taxes in Advance, Missouri, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Advance is 0.81%, which is lower than the U.S. national median of 0.99%. Local government entities within Advance set these rates annually, and they can vary significantly across different neighborhoods. Each year, Advance 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 Advance's effective property tax rate to other counties in Missouri and the national median. For comparison, the 63730 zip code has the highest median property tax rate of 0.81%, while the same zip code also has the lowest median tax rate of 0.81%. Understanding how these cities compare with Advance provides valuable insights into the varying tax landscape across Stoddard County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Advance Tax Rate
0.81%
Average Stoddard County Tax Rate
0.85%
Average Missouri Tax Rate
1.20%
Average United States Tax Rate
0.99%
Property Tax Rates Across Advance, Missouri
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 63730 | 0.65% | 0.72% | 0.81% | 0.85% | 0.87% |
Source: Ownwell
Property Tax Assessment Values Across Advance, Missouri
In Advance, 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 Stoddard 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 Advance, 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 Advance helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The zip code 63730 has the highest and lowest median tax bill at $783.
Average Advance Assessed Value
$85,800
Average Stoddard County Assessed Value
$85,450
Average Missouri Assessed Value
$129,505
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Advance, Missouri
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 63730 | $15,300 | $40,675 | $85,800 | $147,375 | $244,680 |
Source: Ownwell
Property Tax Bills Across Advance, Missouri
Property tax bills in Advance, located in Stoddard County, Missouri, are calculated based on the assessed value of a property, which is a percentage of its market value. The local tax rate is then applied to this assessed value to determine the tax bill. Factors such as the property's location, size, and any improvements or renovations can influence its assessed value. For homeowners in Advance, the median home price is $85,800. Property tax bills vary significantly, with the 25th percentile at $488 and the 75th percentile reaching $1,267. The 90th percentile tax bill is as high as $1,975. Comparatively, the national median property tax rate is 0.99%, which provides a benchmark for understanding local tax obligations. The highest and lowest median tax bills in the area are both $783, indicating some consistency within the region. These property taxes play a crucial role in funding local services such as schools, emergency services, and infrastructure, directly impacting the quality of life for residents.
Average Advance Tax Bill
$783
Average Stoddard County Tax Bill
$758
Average Missouri Tax Bill
$1,606
Average United States Tax Bill
$2,690
Property Tax Bills Across Advance, Missouri
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 63730 | $238 | $488 | $783 | $1,267 | $1,975 |
Source: Ownwell