Benson, Missouri Property Taxes
The median property tax rate in Benson, MO is 1.14%, which is higher than both the national median of 0.99% and the Missouri state median of 1.20%. With the median home value in Benson, the typical annual property tax bill reaches $60, falling short of the national median of $2,690. Property taxes in Benson 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 Benson'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 Benson 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
Benson, Missouri Property Tax Bill Calculator
$100,000
$2,500,000
$5,000,000
Average Tax Rate
1.2%
Estimate Property Tax Bill
$2,400
Ownwell’s Benson Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Benson with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Benson 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 Benson, Missouri
Property taxes in Benson, Missouri, are vital in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Benson is 1.14%, higher than both the Missouri state median and the U.S. national median of 0.99%. Local government entities within Benson set these rates annually, and they can vary significantly across different neighborhoods. Each year, Benson 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 Benson's effective property tax rate to other counties in Missouri and the national median. For comparison, the 85602 zip code has the highest median property tax rate of 1.14%, while the 85602 zip code also has the lowest median tax rate of 1.14%. Understanding how these cities compare with Benson provides valuable insights into the varying tax landscape across Taney County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Benson Tax Rate
1.14%
Average Taney County Tax Rate
0.97%
Average Missouri Tax Rate
1.20%
Average United States Tax Rate
0.99%
Property Tax Rates Across Benson, Missouri
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 85602 | 1.14% | 1.14% | 1.14% | 1.14% | 1.14% |
Source: Ownwell
Property Tax Assessment Values Across Benson, Missouri
In Benson, 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 Taney County Assessor's Office 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 Benson, 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 Benson helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. In Taney County, the zip code with the highest tax bill is 29213, while the lowest tax bill is also found in 29213, both amounting to $60.
Average Benson Assessed Value
$5,289
Average Taney County Assessed Value
$44,055
Average Missouri Assessed Value
$129,505
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Benson, Missouri
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 85602 | $5,289 | $5,289 | $5,289 | $5,289 | $5,289 |
Source: Ownwell
Property Tax Bills Across Benson, Missouri
Property tax bills in Benson, located in Taney County, MO, are calculated based on the assessed value of the property, which is determined by the county assessor. This assessed value is a percentage of the property's market value. The tax rate, also known as the mill rate, is then applied to this assessed value to determine the tax bill. Factors such as property size, location, and improvements can influence the assessed value. For homeowners in Benson, the property tax rate is relatively low compared to the national median property tax rate of 0.99%. With median home prices at $5,289, property tax bills in Benson are notably modest. The 25th, 75th, and 90th percentiles of tax bills are all uniformly at $60, reflecting a consistent and predictable tax environment. This stability can be beneficial for homeowners, providing a clear expectation of their annual property tax obligations. Understanding these factors helps homeowners in Benson manage their finances more effectively and plan for future expenses.
Average Benson Tax Bill
$60
Average Taney County Tax Bill
$449
Average Missouri Tax Bill
$1,606
Average United States Tax Bill
$2,690
Property Tax Bills Across Benson, Missouri
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 85602 | $60 | $60 | $60 | $60 | $60 |
Source: Ownwell