Kearney, Missouri Property Taxes
The median property tax rate in Kearney, MO is 1.16%, which is higher than the national median of 0.99% but slightly lower than the Missouri state median of 1.20%. With a median home value of $260,052 in Kearney, the typical annual property tax bill amounts to $2,988, surpassing the national median of $2,690. Property taxes in Kearney are calculated based on the tax assessed value, which usually falls below the market value due to various exemptions like primary residence and agricultural exemptions. Understanding Kearney'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 Kearney 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
Kearney, Missouri Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.16%
Estimate Property Tax Bill
$3,017
Ownwell’s Kearney Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Kearney with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Kearney 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 Kearney, Missouri
Property taxes in Kearney, Missouri, are crucial for funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Kearney is 1.11%, higher than both the Missouri state median of 0.93% and the U.S. national median of 0.99%. Local government entities within Kearney set these rates annually, and they can vary significantly across different neighborhoods. Each year, Kearney 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 Kearney's effective property tax rate to other counties in Missouri and the national median. For comparison, the 64060 zip code has the highest median property tax rate of 1.11%, while the same zip code also has the lowest median tax rate of 1.11%. Understanding how these cities compare with Kearney provides valuable insights into the varying tax landscape across Clay County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Kearney Tax Rate
1.16%
Average Clay County Tax Rate
1.34%
Average Missouri Tax Rate
1.20%
Average United States Tax Rate
0.99%
Property Tax Rates Across Kearney, Missouri
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 64060 | 1.06% | 1.12% | 1.16% | 1.20% | 1.23% |
Source: Ownwell
Property Tax Assessment Values Across Kearney, Missouri
In Kearney, 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 Clay 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 Kearney, 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. For instance, the median home price in Kearney is $260,052, with tax bills ranging from $2,320 at the 25th percentile to $5,257 at the 90th percentile. The highest and lowest median tax bills are both $2,988 in zip code 64060. Being aware of these valuation processes helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Kearney Assessed Value
$260,052
Average Clay County Assessed Value
$203,105
Average Missouri Assessed Value
$129,505
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Kearney, Missouri
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 64060 | $164,990 | $202,000 | $260,052 | $342,710 | $459,116 |
Source: Ownwell
Property Tax Bills Across Kearney, Missouri
In Kearney, located in Clay County, MO, property tax bills are calculated based on the assessed value of a home, which is a percentage of its market value. The local tax rate is then applied to this assessed value to determine the tax bill. For example, with a median home price of $260,052, homeowners can expect their tax bills to vary significantly. The 25th percentile tax bill is around $2,320, while the 75th percentile reaches $3,948, and the 90th percentile climbs to $5,257. These figures illustrate the range of potential tax obligations, influenced by factors such as property size, location, and any applicable exemptions. Comparatively, the highest and lowest median tax bills in Kearney both stand at $2,988, which aligns closely with the national median property tax rate of 0.99%. This consistency suggests a relatively stable tax environment for homeowners in the area. Understanding these factors helps homeowners anticipate their financial responsibilities and plan accordingly.
Average Kearney Tax Bill
$2,988
Average Clay County Tax Bill
$2,651
Average Missouri Tax Bill
$1,606
Average United States Tax Bill
$2,690
Property Tax Bills Across Kearney, Missouri
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 64060 | $1,908 | $2,320 | $2,988 | $3,948 | $5,257 |
Source: Ownwell