Stone County Economic Development Resources
Median Household Income based on 2010
Median Household Income based on 2010 Census: $40,021
Average Household Income based on 2010 Census: $49,937
Median Family Income based on 2010 Census: $46,840
Average Family Income based on 2010 Census: $56,042
Educational Attainment for Stone County Residents Over 25 years Old:
Education Level - Numbers - Percent
Less than 9th Grade - 0,963 - 04.0%
Some High School - 2,749 - 11.4%
High School Grad (or GED) - 9,307 - 38.2%
Some College (No degree) - 6,069 - 25.1%
Associates Degree - 1,554 - 06.4%
Bachelors or More - 3,609 - 14.9%
Property Tax In Missouri
Although other taxes have proliferated in recent years, the property tax remains a mainstay of local government finance in Missouri. It provides a major source of revenue for most local governments and will continue to be important to them.
The property tax gives local taxpayers a measure of control over their local governments. Local governments retain a greater measure of their autonomy when they can rely on property taxes. This tax provides a relationship to services received, such as police and fire protection and local streets, although it does so imperfectly.
Everyone pays this tax, either directly or indirectly, and its revenues would be very difficult to replace from other revenue sources.
More than 2,500 Missouri local governments rely on property taxes. They received more than $3.3 billion in property taxes in 1997. The taxes were levied on an assessed valuation of $54.4 billion, 25% of which was personal property and 75% was real estate. Because of new construction, and increased values, assessed valuations grew an average of 6% a year from 1985, when the first statewide reassessment was completed, to 1997. During that time, taxes levied grew by an average of 10% a year. The difference between those percentages is reflective of the tax rate increases adopted by local governments and their voters, and the creation of some new local governments.
How the Tax Is Determined.
The amount of property taxes imposed on any taxpayer is determined by two separate factors:
- The assessed value of their taxable property, as established by the local assessor, and
- The total of the tax rates that have been set by the several governing bodies of local governments where the property is located.
In setting values, the assessor is bound by laws and rules designed to assure that assessments are as 'uniform as possible. Once the assessor arrives at the total value of the taxpayer's taxable real and personal property, he/she calculates the portion that is assessed value by multiplying the total value by the percentages set in the law for each type of property.
Tax rates that have been set by the local governments taxing the property are multiplied by the assessed value and divided by 100. The result is the amount of tax levied against the property.
Property is assessed at differing percentages of value according to the type of property or its use. The statutes provide that all property improved by a structure which is used or intended to be used as a residence is to be classified as residential. The agricultural property must be devoted primarily to raising crops, livestock, dairying, etc.
Real property is assessed:
Residential 19.0% of Value
All Other 32.0% of Value
Personal property is assessed:
Manufactured Homes 19.0% of Value
Farm Machinery, Livestock 12.0% of Value
Historic Cars, Planes .5% of Value
Crops (Grain) .5% of Value
Vehicles (Other) 33.3% of Value
Example: Homeowner's Tax Bill A home, owner with a $50,000 house and two cars worth a total of $15,000, living in an area where the tax rates levied by local governments (including the state 3-cent levy) total $5.70 per $100 assessed valuation, would have taxes calculated:
Home (full value) - $50,000 x 19%.0 = $9,500 (assessed value)
Car (full value) - $15,000 x 33.3% = $5,000 (assessed value)
Total Assessed Value = $14,500 Times tax rate per $100 x .0570
Tax levied = $826.50
To view the complete document of 'The Property Tax In Missouri' click on the following link: www.stoneco-mo.us
Stone County Population by Age – 2010 Census
Age - Number - Percent
0-18 - 6764 - 20.5%
19-29 - 3034 - 9.2%
30-54 - 9808 - 30.0%
55-69 - 8017 - 24.5%
70 + - 5063 - 15.5%