Marshfield, Missouri Property Taxes
The median property tax rate in Marshfield, MO is 0.58%, significantly lower than both the national median of 0.99% and the Missouri state median of 1.20%. With the median home value in Marshfield at $104,815, the typical annual property tax bill is $607, well below the national median of $2,690. Property taxes in Marshfield are calculated based on the tax assessed value, which often falls below the market value due to various exemptions such as primary residence and agricultural exemptions. Understanding Marshfield'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 Marshfield or another part of Wright County, grasping the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Marshfield, Missouri Property Tax Bill Calculator
$100,000
$2,500,000
$5,000,000
Average Tax Rate
1.2%
Estimate Property Tax Bill
$2,400
Ownwell’s Marshfield Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Marshfield with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Marshfield 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 Marshfield, Missouri
Property taxes in Marshfield, Missouri, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Marshfield is 0.58%, which is lower than both the Missouri state median and the U.S. national median of 0.99%. Local government entities within Marshfield set these rates annually, and they can vary significantly across different neighborhoods. Each year, Marshfield 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 Marshfield's effective property tax rate to other counties in Missouri and the national median. For comparison, the 65706 zip code has both the highest and lowest median property tax rate of 0.58%. Understanding how these cities compare with Marshfield 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 Marshfield Tax Rate
0.58%
Average Wright County Tax Rate
0.60%
Average Missouri Tax Rate
1.20%
Average United States Tax Rate
0.99%
Property Tax Rates Across Marshfield, Missouri
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 65706 | 0.58% | 0.58% | 0.58% | 0.58% | 0.59% |
Source: Ownwell
Property Tax Assessment Values Across Marshfield, Missouri
In Marshfield, 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 Wright County 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 Marshfield, 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 Marshfield helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The highest median tax bill in the area is $607 in zip code 65706, which contrasts with the national median property tax rate of 0.99%.
Average Marshfield Assessed Value
$104,815
Average Wright County Assessed Value
$57,736
Average Missouri Assessed Value
$129,505
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Marshfield, Missouri
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 65706 | $60,078 | $76,854 | $104,815 | $132,776 | $149,552 |
Source: Ownwell
Property Tax Bills Across Marshfield, Missouri
In Marshfield, property tax bills are calculated based on the assessed value of a home, which is typically a percentage of its market value. Local tax rates are then applied to this assessed value to determine the annual tax bill. Factors influencing the tax bill include the home's assessed value, local tax rates, and any applicable exemptions or deductions. For instance, the median home price in Marshfield is $104,815, and property tax bills can vary significantly. Homeowners in the 25th percentile pay around $447 annually, while those in the 75th percentile see bills closer to $767. At the 90th percentile, tax bills can reach up to $863. These tax bills are crucial for homeowners as they directly impact the overall cost of owning property. Compared to the national median property tax rate of 0.99%, Marshfield's rates offer a relatively manageable tax burden, making it an attractive option for potential homeowners. Understanding these factors helps residents anticipate and plan for their annual property taxes.
Average Marshfield Tax Bill
$607
Average Wright County Tax Bill
$358
Average Missouri Tax Bill
$1,606
Average United States Tax Bill
$2,690
Property Tax Bills Across Marshfield, Missouri
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 65706 | $351 | $447 | $607 | $767 | $863 |
Source: Ownwell