Graff, Texas County, Missouri Property Taxes
The median property tax rate in Graff, MO is 0.68%, considerably lower than both the national median of 0.99% and the Missouri state median of 1.20%. With the median home value in Graff at $56,915, the typical annual property tax bill reaches $377, significantly below the national median of $2,690. Property taxes in Graff are calculated based on the tax assessed value, which typically falls below the market value due to various exemptions like the primary residence and agricultural exemptions. Understanding Graff'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 Graff or another part of Texas County, understanding the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Graff, Texas County, Missouri Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.68%
Estimate Property Tax Bill
$387
$359
Ownwell’s GRAFF Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in GRAFF with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in GRAFF 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 Graff, Texas County, Missouri
Property taxes in Graff, Missouri, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Graff is 0.68%, which is lower than both the Missouri state median and the U.S. national median of 0.99%. Local government entities within Graff set these rates annually, and they can vary significantly across different neighborhoods. Each year, Graff 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 Graff's effective property tax rate to other counties in Missouri and the national median. For comparison, the 65660 zip code has both the highest and lowest median property tax rate of 0.68%. Understanding how these cities compare with Graff provides valuable insights into the varying tax landscape across Wright County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Graff Tax Rate
0.68%
Average Texas County Tax Rate
0.70%
Average Missouri Tax Rate
1.20%
Average United States Tax Rate
0.99%
Property Tax Rates Across Graff, Texas County, Missouri
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 65660 | 0.55% | 0.61% | 0.68% | 0.76% | 0.80% |
Source: Ownwell
Property Tax Assessment Values Across Graff, Texas County, Missouri
In Graff, 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 Texas 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 Graff, 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 Graff helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The zip code 65660 in Texas County has the highest and lowest median tax bill at $377.
Property Tax Assessment Values Across Graff, Texas County, Missouri
Source: Ownwell
$47,880
$79,465
$111,050
Average Graff Assessed Value
$56,915
Average Texas County Assessed Value
$74,330
Average Missouri Assessed Value
$129,505
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Graff, Texas County, Missouri
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 65660 | $32,133 | $41,608 | $56,915 | $101,828 | $141,484 |
Source: Ownwell
Property Tax Bills Across Graff, Texas County, Missouri
In Graff, Texas County, MO, property tax bills are calculated based on the assessed value of the property. The assessed value is determined by evaluating the market value of the home and then applying the local assessment ratio. For homeowners in Graff, the median home price is $56,915. Property tax rates are then applied to this assessed value to calculate the annual tax bill. Factors that influence the tax bill include the property's location, its assessed value, and any applicable exemptions or deductions. In Graff, the 25th percentile of tax bills is $331, while the 75th percentile is $597. The 90th percentile tax bill can reach up to $1,051, indicating some variation depending on the property specifics. For homeowners, understanding these calculations is crucial as property taxes can significantly impact annual expenses. Compared to the national median property tax rate of 0.99%, Graff's property taxes offer a point of comparison for evaluating local tax burdens.
Average Graff Tax Bill
$377
Average Texas County Tax Bill
$521
Average Missouri Tax Bill
$1,606
Average United States Tax Bill
$2,690
Property Tax Bills Across Graff, Texas County, Missouri
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 65660 | $264 | $331 | $377 | $597 | $1,051 |
Source: Ownwell