Theodosia, Missouri Property Taxes
The median property tax rate in Theodosia, MO is 0.84%, lower than both the national median of 0.99% and the Missouri state median of 1.20%. With the median home value in Theodosia at $60,964, the typical annual property tax bill comes to $515, well below the national median of $2,690. Property taxes in Theodosia are calculated based on the assessed value, which typically falls below the market value due to various exemptions like the primary residence and agricultural exemptions. Understanding Theodosia'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 Theodosia 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
Theodosia, Missouri Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.84%
Estimate Property Tax Bill
$512
Ownwell’s Theodosia Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Theodosia with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Theodosia 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 Theodosia, Missouri
Property taxes in Theodosia, Missouri, are crucial in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Theodosia is 0.84%, which is lower than both the Missouri state median and the U.S. national median of 0.99%. Local government entities within Theodosia set these rates annually, and they can vary significantly across different neighborhoods. Each year, Theodosia 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 Theodosia's effective property tax rate to other counties in Missouri and the national median. For comparison, the zip code 65761 has both the highest and lowest median property tax rate of 0.84%. Understanding how these cities compare with Theodosia 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 Theodosia Tax Rate
0.84%
Average Taney County Tax Rate
0.97%
Average Missouri Tax Rate
1.20%
Average United States Tax Rate
0.99%
Property Tax Rates Across Theodosia, Missouri
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 65761 | 0.66% | 0.76% | 0.84% | 0.92% | 1.05% |
Source: Ownwell
Property Tax Assessment Values Across Theodosia, Missouri
In Theodosia, 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 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 Theodosia, 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 median home price in Theodosia stands at $60,964, with tax bills ranging from $356 at the 25th percentile to $1,193 at the 90th percentile. Being aware of these valuation processes in Theodosia helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Theodosia Assessed Value
$60,964
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 Theodosia, Missouri
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 65761 | $17,027 | $42,980 | $60,964 | $94,682 | $138,097 |
Source: Ownwell
Property Tax Bills Across Theodosia, Missouri
In Theodosia, located in Taney County, MO, property tax bills are calculated based on the assessed value of a home. The assessed value is a percentage of the property's market value, and this figure is then multiplied by the local tax rate to determine the tax bill. Factors such as property size, location, and improvements can influence the assessed value. For example, the median home price in Theodosia is $60,964, which is relatively low compared to many other regions. Homeowners in Theodosia can expect a range of tax bills. The 25th percentile tax bill is around $356, while the 75th percentile tax bill is approximately $742. At the higher end, the 90th percentile tax bill reaches up to $1,193. These figures illustrate how property taxes can vary significantly within the area. The median tax bill in the highest and lowest zip codes is $515, which is below the national median property tax rate of 0.99%. This relatively lower tax burden can make homeownership in Theodosia more affordable for many residents.
Average Theodosia Tax Bill
$515
Average Taney County Tax Bill
$449
Average Missouri Tax Bill
$1,606
Average United States Tax Bill
$2,690
Property Tax Bills Across Theodosia, Missouri
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 65761 | $212 | $356 | $515 | $742 | $1,193 |
Source: Ownwell