Chula, Missouri Property Taxes
The median property tax rate in Chula, MO is 1.14%, slightly higher than the national median of 0.99% but lower than Missouri's state median of 1.20%. With the median home value in Chula at $137,830, the typical annual property tax bill reaches $1,431, which is below the national median of $2,690. Property taxes in Chula are calculated based on the tax assessed value, which is often lower than the market value due to exemptions such as primary residence and agricultural exemptions. Understanding Chula'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 Chula 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
Chula, 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 Chula Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Chula with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Chula 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 Chula, Missouri
Property taxes in Chula, Missouri, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Chula is 1.14%, higher than the U.S. national median of 0.99%. Local government entities within Chula set these rates annually, and they can vary significantly across different neighborhoods. Each year, Chula 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 Chula's effective property tax rate to other counties in Missouri and the national median. For comparison, the zip code 64635 has both the highest and lowest median property tax rate of 1.14%. Understanding how these cities compare with Chula provides valuable insights into the varying tax landscape across Grundy County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Chula Tax Rate
1.14%
Average Grundy County Tax Rate
1.42%
Average Missouri Tax Rate
1.20%
Average United States Tax Rate
0.99%
Property Tax Rates Across Chula, Missouri
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 64635 | 1.03% | 1.04% | 1.14% | 1.35% | 1.40% |
Source: Ownwell
Property Tax Assessment Values Across Chula, Missouri
In Chula, 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 Grundy 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 Chula, 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 Chula helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The zip code with the highest median tax bill is 64635, amounting to $1,431, which is important for homeowners to note.
Average Chula Assessed Value
$137,830
Average Grundy County Assessed Value
$44,895
Average Missouri Assessed Value
$129,505
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Chula, Missouri
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 64635 | $41,460 | $76,250 | $137,830 | $242,070 | $364,922 |
Source: Ownwell
Property Tax Bills Across Chula, Missouri
In Chula, Grundy County, MO, property tax bills are calculated based on the assessed value of a home, which is a percentage of its market value. The assessed value is then multiplied by the local tax rate to determine the annual tax bill. Factors such as property size, location, and improvements made to the property can influence the assessed value. For homeowners, understanding these factors is crucial as they directly affect the amount they owe in property taxes. The median home price in Chula is $137,830. Property tax bills in the area can vary significantly, with the 25th percentile tax bill at $857 and the 75th percentile reaching $3,302. At the 90th percentile, homeowners might see bills as high as $3,738. This range highlights the variability in tax obligations based on property values and local tax rates. Comparing this to the national median property tax rate of 0.99%, homeowners in Chula may find their tax bills either more manageable or more burdensome depending on their specific property assessments.
Average Chula Tax Bill
$1,431
Average Grundy County Tax Bill
$610
Average Missouri Tax Bill
$1,606
Average United States Tax Bill
$2,690
Property Tax Bills Across Chula, Missouri
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 64635 | $618 | $857 | $1,431 | $3,302 | $3,738 |
Source: Ownwell