Garrison, Missouri Property Taxes
The median property tax rate in Garrison, MO is 0.88%, 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 Garrison, the typical annual property tax bill is $108, significantly below the national median of $2,690. Property taxes in Garrison are calculated based on the tax assessed value, often lower than the market value due to exemptions like primary residence and agricultural exemptions. Understanding Garrison'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 Garrison 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
Garrison, Missouri Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.88%
Estimate Property Tax Bill
$108
Ownwell’s Garrison Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Garrison with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Garrison 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 Garrison, Missouri
Property taxes in Garrison, Missouri, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Garrison is 0.88%, which is lower than the U.S. national median of 0.99%. Local government entities within Garrison set these rates annually, and they can vary across different neighborhoods. Each year, Garrison 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 Garrison's effective property tax rate to other counties in Missouri and the national median. For comparison, the zip code 65657 has both the highest and lowest median property tax rate of 0.88%. Understanding how these cities compare with Garrison 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 Garrison Tax Rate
0.88%
Average Taney County Tax Rate
0.97%
Average Missouri Tax Rate
1.20%
Average United States Tax Rate
0.99%
Property Tax Rates Across Garrison, Missouri
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 65657 | 0.88% | 0.88% | 0.88% | 0.88% | 0.88% |
Source: Ownwell
Property Tax Assessment Values Across Garrison, Missouri
In Garrison, 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 Garrison, 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 zip code with the highest median tax bill is 65657 at $108, while the zip code with the lowest median tax bill is also 65657 at $108. Being aware of these valuation processes in Garrison helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Garrison Assessed Value
$12,292
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 Garrison, Missouri
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 65657 | $12,292 | $12,292 | $12,292 | $12,292 | $12,292 |
Source: Ownwell
Property Tax Bills Across Garrison, Missouri
In Garrison, located in Taney County, MO, property tax bills are calculated based on the assessed value of a home, which is a percentage of its market value. The local tax rate is then applied to this assessed value to determine the annual tax bill. For example, with a median home price of $12,292, homeowners can expect a tax bill around $108, which is significantly lower than the national median property tax rate of 0.99%. Factors influencing the tax bill include the home's assessed value, local tax rates, and any applicable exemptions. The assessed value is periodically reviewed and can change based on market conditions or improvements made to the property. This relatively low tax bill can be advantageous for homeowners, making Garrison an attractive place for those looking to minimize their property tax expenses. However, it's essential for homeowners to stay informed about any changes in local tax policies that could affect their future tax liabilities.
Average Garrison Tax Bill
$108
Average Taney County Tax Bill
$449
Average Missouri Tax Bill
$1,606
Average United States Tax Bill
$2,690
Property Tax Bills Across Garrison, Missouri
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 65657 | $108 | $108 | $108 | $108 | $108 |
Source: Ownwell