Reeds Spring, Taney County, Missouri Property Taxes
The median property tax rate in Reeds Spring, MO is 0.96%, slightly lower than the national median of 0.99% and significantly below the Missouri state median of 1.20%. With a median home value of $75,100 in Reeds Spring, the typical annual property tax bill amounts to $655, which is considerably less than the national median of $2,690. Property taxes in Reeds Spring are calculated based on the assessed value, which is often lower than the market value due to various exemptions such as those for primary residences and agricultural properties. Understanding Reeds Spring'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 Reeds Spring or another part of Taney County, gaining insight into the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Reeds Spring, Taney County, Missouri Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.96%
Estimate Property Tax Bill
$721
$669
Ownwell’s Reeds Spring Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Reeds Spring with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Reeds Spring 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 Reeds Spring, Taney County, Missouri
Property taxes in Reeds Spring, Missouri, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Reeds Spring is 0.96%, which is slightly below the U.S. national median of 0.99%. Local government entities within Reeds Spring set these rates annually, and they can vary significantly across different neighborhoods. Each year, Reeds Spring 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 Reeds Spring's effective property tax rate to other areas and the national median. For comparison, the zip code 65737 has the highest median property tax rate of 0.96%, while the lowest median tax rate is also 0.96%. Understanding how these areas compare with Reeds Spring 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 Reeds Spring Tax Rate
0.96%
Average Taney County Tax Rate
0.97%
Average Missouri Tax Rate
1.20%
Average United States Tax Rate
0.99%
Property Tax Rates Across Reeds Spring, Taney County, Missouri
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 65737 | 0.83% | 0.93% | 0.96% | 0.96% | 0.96% |
Source: Ownwell
Property Tax Assessment Values Across Reeds Spring, Taney County, Missouri
Understanding the difference between "market value" and "assessed value" is crucial for comprehending property taxes in Reeds Spring, Missouri. The market value represents 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 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 Reeds Spring, 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. For instance, the highest median tax bill in the 65737 zip code is $655, while the lowest is also $655. 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 Reeds Spring helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Property Tax Assessment Values Across Reeds Spring, Taney County, Missouri
Source: Ownwell
$3,708
$162,879
$322,050
Average Reeds Spring Assessed Value
$75,100
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 Reeds Spring, Taney County, Missouri
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 65737 | $5,044 | $15,536 | $75,100 | $199,845 | $350,148 |
Source: Ownwell
Property Tax Bills Across Reeds Spring, Taney County, Missouri
In Reeds Spring, 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 tax bill. For instance, with a median home price of $75,100, homeowners can expect their property tax bill to vary significantly. The 25th percentile tax bill stands at $142, while the 75th percentile tax bill reaches $1,901, and the 90th percentile tax bill can be as high as $3,404. These property tax bills are influenced by several factors, including local government budgets, public service funding needs, and school district levies. Compared to the national median property tax rate of 0.99%, Reeds Spring homeowners may find their tax obligations vary widely. This variability can impact homeowners' financial planning, potentially affecting decisions related to property investment and long-term residency. Understanding these factors is crucial for homeowners to manage their expenses effectively.
Average Reeds Spring Tax Bill
$655
Average Taney County Tax Bill
$449
Average Missouri Tax Bill
$1,606
Average United States Tax Bill
$2,690
Property Tax Bills Across Reeds Spring, Taney County, Missouri
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 65737 | $42 | $142 | $655 | $1,901 | $3,404 |
Source: Ownwell