Seymour, Missouri Property Taxes
The median property tax rate in Seymour, MO is 0.66%, significantly lower than both the national median of 0.99% and the Missouri state median of 1.20%. With the median home value in Seymour at $71,263, the typical annual property tax bill amounts to $486, well below the national median of $2,690. Property taxes in Seymour 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 Seymour'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 Seymour 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
Seymour, Missouri Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.66%
Estimate Property Tax Bill
$470
Ownwell’s Seymour Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Seymour with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Seymour 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 Seymour, Missouri
Property taxes in Seymour, Missouri, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Seymour is 0.66%, which is lower than both the Missouri state median and the U.S. national median of 0.99%. Local government entities within Seymour set these rates annually, and they can vary significantly across different neighborhoods. Each year, Seymour 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 Seymour's effective property tax rate to other counties in Missouri and the national median. For comparison, the 65746 zip code has the highest median property tax rate of 0.66%, while the 65746 zip code also has the lowest median tax rate of 0.66%. Understanding how these cities compare with Seymour 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 Seymour Tax Rate
0.66%
Average Wright County Tax Rate
0.60%
Average Missouri Tax Rate
1.20%
Average United States Tax Rate
0.99%
Property Tax Rates Across Seymour, Missouri
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 65746 | 0.64% | 0.65% | 0.66% | 0.68% | 0.71% |
Source: Ownwell
Property Tax Assessment Values Across Seymour, Missouri
In Seymour, 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 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 Seymour, 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 Seymour helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The median home price in Seymour is $71,263, with tax bills ranging from $234 at the 25th percentile to $1,084 at the 90th percentile. Notably, the zip code 65746 has both the highest and lowest median tax bill at $486.
Average Seymour Assessed Value
$71,263
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 Seymour, Missouri
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 65746 | $15,499 | $33,329 | $71,263 | $115,407 | $164,378 |
Source: Ownwell
Property Tax Bills Across Seymour, Missouri
In Seymour, Wright County, MO, property tax bills are calculated based on the assessed value of a home. The assessed value is typically a percentage of the market value, which is determined by the local assessor. For example, the median home price in Seymour is $71,263. Property tax rates in this area are applied to the assessed value to determine the annual tax bill. The tax bill can vary significantly; homeowners in the 25th percentile pay around $234, while those in the 75th percentile pay approximately $741. At the 90th percentile, the tax bill can reach up to $1,084. These variations are influenced by factors such as property size, location, and any applicable exemptions. Compared to the national median property tax rate of 0.99%, homeowners in Seymour experience a range of tax bills that can impact their annual budgeting and financial planning. Understanding these factors helps homeowners anticipate their property tax obligations and manage their finances more effectively.
Average Seymour Tax Bill
$486
Average Wright County Tax Bill
$358
Average Missouri Tax Bill
$1,606
Average United States Tax Bill
$2,690
Property Tax Bills Across Seymour, Missouri
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 65746 | $99 | $234 | $486 | $741 | $1,084 |
Source: Ownwell