Summersville, Missouri Property Taxes
The median property tax rate in Summersville, MO is 0.70%, considerably lower than both the national median of 0.99% and the Missouri state median of 1.20%. With the median home value in Summersville, the typical annual property tax bill reaches $447, significantly below the national median of $2,690. Property taxes in Summersville 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 Summersville'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 Summersville 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
Summersville, Missouri Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.7%
Estimate Property Tax Bill
$440
Ownwell’s Summersville Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Summersville with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Summersville 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 Summersville, Missouri
Property taxes in Summersville, Missouri, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Summersville is 0.70%, which is lower than both the Missouri state median and the U.S. national median of 0.99%. Local government entities within Summersville set these rates annually, and they can vary significantly across different neighborhoods. Each year, Summersville 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 Summersville's effective property tax rate to other counties in Missouri and the national median. For comparison, the zip code 65571 has both the highest and lowest median property tax rate of 0.70%. Understanding how these areas compare with Summersville provides valuable insights into the varying tax landscape across Texas County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Summersville Tax Rate
0.70%
Average Texas County Tax Rate
0.70%
Average Missouri Tax Rate
1.20%
Average United States Tax Rate
0.99%
Property Tax Rates Across Summersville, Missouri
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 65571 | 0.62% | 0.66% | 0.70% | 0.82% | 0.83% |
Source: Ownwell
Property Tax Assessment Values Across Summersville, Missouri
Understanding the difference between "market value" and "assessed value" is crucial for comprehending property taxes in Summersville, Missouri. 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 local appraisal district 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 Summersville, 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 Summersville is $62,800, with property tax bills ranging from $260 at the 25th percentile to $1,053 at the 90th percentile. The highest and lowest median tax bills are both $447 in the 65571 zip code. Being aware of these valuation processes helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Summersville Assessed Value
$62,800
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 Summersville, Missouri
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 65571 | $19,907 | $35,538 | $62,800 | $105,152 | $158,490 |
Source: Ownwell
Property Tax Bills Across Summersville, Missouri
In Summersville, Texas County, MO, property tax bills are calculated based on the assessed value of a home, which is a percentage of its market value. The median home price in Summersville is $62,800. Local tax authorities determine the assessed value, which is then multiplied by the local tax rate to calculate the annual tax bill. Factors such as home improvements, neighborhood developments, and changes in market conditions can influence the assessed value. Tax bills in Summersville vary, with the 25th percentile at $260, the 75th percentile at $729, and the 90th percentile reaching $1,053. The highest and lowest median tax bills in the area both stand at $447, indicating some consistency in tax assessments within the zip code 65571. Compared to the national median property tax rate of 0.99%, homeowners in Summersville may find their tax bills relatively manageable, potentially offering a more affordable living situation. Understanding these factors can help homeowners anticipate and plan for their property tax obligations.
Average Summersville Tax Bill
$447
Average Texas County Tax Bill
$521
Average Missouri Tax Bill
$1,606
Average United States Tax Bill
$2,690
Property Tax Bills Across Summersville, Missouri
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 65571 | $152 | $260 | $447 | $729 | $1,053 |
Source: Ownwell