Any individual who owns a home must pay property taxes. In the state of Missouri, homeowners who fail to pay these taxes on time are subject to penalties, interest, and late fees.
When property taxes remain unpaid for a long time, the county collector is authorized to sell your home at a tax sale.
If you are a first-time homeowner, this article provides a helpful guide on real property tax that Springfield, MO, residents should be aware of.
Introduction to Property Taxes in Springfield, MO
In Missouri, the average effective property tax rate is 0.88%, slightly lower than the national average of 0.99%.
Property tax rates in Missouri vary from county to county. In particular, the effective tax rate in Greene County is 0.91%.
Overview of Property Taxation System
If you own a property in Missouri, you will be required to pay property tax, even if the property was gifted to you through an estate.
The property tax amount due depends on your home and land’s assessed value, as well as the total tax rate in your county.
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Importance of Property Taxes
Property taxes in Missouri are a vital source of revenue for local governments.
The money collected from Missouri property taxes is used for multiple public services throughout the state, including:
- First responders
- Law enforcement
- General government services
- Municipal employees’ salaries
- Municipal infrastructure
- Land construction or improvements
- Protective services
- Recreational services
- Resident services (i.e., garbage pickup)
Understanding the Property Taxes in Springfield, MO
In Greene County, where the city of Springfield is located, the median home value is $151,300.
Given an average effective property tax rate of 0.91%, the median annual property tax payment of Springfield homeowners is $1,383.
The effective tax rate is a county’s median annual property tax paid as a percentage of its median home value.
Basis of Property Tax Assessment
Tax rates in Missouri are determined by local tax authorities. The rate to be paid by homeowners is the total of all the rates for all the districts that cover your home. Property tax rates are expressed per $100 in assessed value.
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Property Tax Rates in Springfield
The average yearly property tax paid by Greene County homeowners amounts to approximately 1.78% of their annual income.
How Rates Are Determined
Properties in Missouri are reassessed every two years. County assessors appraise the market value of real properties in several ways.
The most common way of assessing a property’s value is by the sale prices of nearby comparable properties and attributes of your home.
Once the county assessor determines the property’s market value, a state assessment rate of 19% is applied. In effect, your property’s assessed value should equal to 19% of its market value.
Comparing Springfield's Rates With Other Cities
With an average effective property tax rate of 0.91%, Greene County homeowners pay lower property taxes compared to cities in other counties like St. Louis County, Jackson County, and St. Charles County, which have relatively higher rates.
St. Louis County, Missouri’s most populous county, has the highest property tax rate in the state, with an average effective property tax rate of 1.45%. With a median home value at $206,700, the median annual property tax bill in this county is $3,003.
The average effective tax rate in Jackson County is 1.43%. In St. Charles County, the typical homeowner pays $3,073 annually in property taxes, the third-highest amount in the state.
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Payment Process Explained
This section provides important information on how to pay property tax in Missouri to avoid penalties.
How and Where to Pay Property Taxes
If you have just purchased a home in Springfield, MO, you can set up your real property taxes to be paid in escrow after you have closed the deal.
If you already own a property in Springfield and you’re not sure if you are paying property taxes out of escrow, check your mortgage statement and make sure it includes the following:
- Principal
- Interest
- Homeowner’s insurance
- Missouri property taxes
Personal property and real estate tax statements are available online for review and payment on November 1. Paper copies are mailed out after a couple of weeks, and email reminders are sent to those whose email is on file with the county.
Those who didn’t receive a mailed statement can contact the Collector’s Office via email at collectorhelp@greenecountymo.gov.
Payment can be made online, over the phone, in person, or by mail.
Online Payment Process:
- Click on the green ‘Statements and Receipts’ button in the upper left corner of the webpage to find your unique tax ID number and PIN.
- Look up your tax ID number and PIN by using your name, tax ID from a mailed statement, or home address.
- Click on the corresponding row to see your 2022 tax statement. The tax statement will have the unique tax ID number and PIN on the upper left corner of the statement that is needed to pay the taxes online.
- Click the red “pay taxes” button on the site’s homepage.
You can pay by eCheck at no charge. If you opt to use a credit card, this will have a 2% charge. Using a debit card has a 1.5% charge.
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Over-the-Phone Payment Process:
Greene County homeowners can pay by phone by calling 888-523-0054. Be sure to have your tax ID ready.
This payment mode is only available if all other outstanding taxes have been paid off. This service will include a 2% fee for any card.
In-Person Payment Process:
Visit the collector’s office located in the Greene County Historic Courthouse in Room 109. The office is open 8:30 a.m. to 4:30 p.m. Monday through Friday and closed on holidays.
Mail Payment Process:
Mail in a check to 940 N. Boonville, Springfield, MO 65802. Mailed payments must have a U.S. postmark.
If you can’t find your statement or you have a question about your tax amount, call the Greene County Assessor’s office at 417-868-4101 or email assessoronline@greenecountymo.gov.
Late Payments and Penalties
Missouri property taxes are due by 11:59 p.m. on December 31 of the calendar year. Late payments will incur a 9% penalty and a 2% interest charge.
Conclusion
Property taxes in Springfield, MO, may be quite overwhelming for new homeowners, and it might be good to seek the help of a professional to ensure that you pay your taxes on time.
If you have any questions about this article or would like to explore the properties in Springfield, MO, feel free to give me a call at 417-241-6565 or send me an email at office@gatewaymo.com.
Frequently Asked Questions
When are property taxes due in Springfield, MO?
Missouri property taxes are due by 11:59 p.m. on December 31 of the calendar year.
How do property taxes in Springfield, MO, contribute to local services?
The money collected from Missouri property taxes is used for various public services, such as municipal infrastructure, law enforcement, and recreational services.
How is my property tax calculated in Springfield, MO?
The county assessor determines the property’s market value and then applies a state assessment rate of 19%.