Truxton, Warren County, Missouri Property Taxes
The median property tax rate in Truxton, MO, is 1.07%, slightly higher than the national median of 0.99% but lower than Missouri's state median of 1.20%. With the median home value in Truxton at $76,281, the typical annual property tax bill is $774, which is significantly below the national median of $2,690. Property taxes in Truxton are calculated based on the tax assessed value, often lower than the market value due to exemptions like the primary residence and agricultural exemptions. Understanding Truxton'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 Truxton 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
Truxton, Warren County, Missouri Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.07%
Estimate Property Tax Bill
$816
$757
Ownwell’s Truxton Property Tax Bill Calculator empowers homeowners, real estate investors, and prospective buyers to estimate their annual property taxes in Truxton with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Truxton 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 Truxton, Warren County, Missouri
Property taxes in Truxton, Missouri, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Truxton is 0.93%, which is lower than both the Missouri state median of 0.97% and the U.S. national median of 0.99%. Local government entities within Truxton set these rates annually, and they can vary significantly across different neighborhoods. Each year, Truxton 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 Truxton's effective property tax rate to other counties in Missouri and the national median. For comparison, the 63381 zip code has the highest median property tax rate of 0.93%, while the same 63381 zip code also has the lowest median tax rate of 0.93%. Understanding how these cities compare with Truxton provides valuable insights into the varying tax landscape across Lincoln, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Truxton Tax Rate
1.07%
Average Warren County Tax Rate
1.14%
Average Missouri Tax Rate
1.20%
Average United States Tax Rate
0.99%
Property Tax Rates Across Truxton, Warren County, Missouri
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 63381 | 0.83% | 1.00% | 1.07% | 1.10% | 1.11% |
Source: Ownwell
Property Tax Assessment Values Across Truxton, Warren County, Missouri
In Truxton, 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 Warren 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 Truxton, 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 Truxton helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The median home price in Truxton is $76,281, with the median tax bill ranging from $433 at the 25th percentile to $2,878 at the 90th percentile. The highest and lowest median tax bills are both $774 in the 63381 zip code.
Property Tax Assessment Values Across Truxton, Warren County, Missouri
Source: Ownwell
$37,757
$106,561
$175,365
Average Truxton Assessed Value
$76,281
Average Warren County Assessed Value
$120,064
Average Missouri Assessed Value
$129,505
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Truxton, Warren County, Missouri
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 63381 | $18,915 | $40,656 | $76,281 | $160,234 | $276,501 |
Source: Ownwell
Property Tax Bills Across Truxton, Warren County, Missouri
In Truxton, located in Warren County, MO, property tax bills are calculated based on the assessed value of a home, which is typically a percentage of its market value. Homeowners in this area see a range of tax bills depending on their property's assessed value. For example, the 25th percentile tax bill is around $433, while the 75th percentile tax bill reaches up to $1,488. At the higher end, the 90th percentile tax bill can be as much as $2,878. Several factors influence these tax amounts, including the property's assessed value, local tax rates, and any applicable exemptions. With the median home price in Truxton at $76,281, the property tax bills can significantly impact homeowners' finances. Compared to the national median property tax rate of 0.99%, the tax burden in Truxton can vary widely, reflecting the diverse economic landscape of the area. Understanding these factors helps homeowners anticipate their annual property tax obligations and plan their budgets accordingly.
Average Truxton Tax Bill
$774
Average Warren County Tax Bill
$1,370
Average Missouri Tax Bill
$1,606
Average United States Tax Bill
$2,690
Property Tax Bills Across Truxton, Warren County, Missouri
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 63381 | $201 | $433 | $774 | $1,488 | $2,878 |
Source: Ownwell