Hatfield, Missouri Property Taxes
The median property tax rate in Hatfield, MO is 1.37%, considerably higher than both the national median of 0.99% and the Missouri state median of 1.20%. With the median home value in Hatfield at $46,455, the typical annual property tax bill reaches $595, which is significantly lower than the national median of $2,690. Property taxes in Hatfield 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 Hatfield'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 Hatfield 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
Hatfield, 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 Hatfield Property Tax Bill Calculator is an essential tool for homeowners, real estate investors, and potential buyers looking to estimate their annual property taxes in Hatfield. By simply entering your property's estimated assessed value, the calculator uses the median tax rate in Hatfield to provide an accurate estimate of your property tax bill. This valuable tool helps you understand your potential tax liabilities with ease. For those interested in more granular insights, scroll down to explore trends and localized information at the neighborhood level. The assessed value of your property, determined by Harrison County, is used for these calculations and takes into account any applicable exemptions.
Property Tax Rates Across Hatfield, Missouri
Property taxes in Hatfield, Missouri, are essential for funding crucial local services such as public schools, road maintenance, and emergency services. The median tax rate in Hatfield is 1.37%, which is significantly higher than both the Missouri state median and the U.S. national median of 0.99%. Local government entities within Hatfield set these rates annually, and they can vary significantly across different neighborhoods. Each year, Hatfield 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 Hatfield's effective property tax rate to other counties in Missouri and the national median. For comparison, the zip code 64458 has the highest median property tax rate of 1.37%, while the same zip code also has the lowest median tax rate of 1.37%. Understanding how these areas compare with Hatfield provides valuable insights into the varying tax landscape across Harrison County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Hatfield Tax Rate
1.37%
Average Harrison County Tax Rate
1.31%
Average Missouri Tax Rate
1.20%
Average United States Tax Rate
0.99%
Property Tax Rates Across Hatfield, Missouri
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 64458 | 1.05% | 1.19% | 1.37% | 1.42% | 1.44% |
Source: Ownwell
Property Tax Assessment Values Across Hatfield, Missouri
In Hatfield, 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 Harrison 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 Hatfield, 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 Hatfield helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The median home price in Hatfield is $46,455, with the highest median tax bill being $595 in the 64458 zip code.
Average Hatfield Assessed Value
$46,455
Average Harrison County Assessed Value
$35,200
Average Missouri Assessed Value
$129,505
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Hatfield, Missouri
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 64458 | $1,099 | $17,355 | $46,455 | $91,258 | $146,570 |
Source: Ownwell
Property Tax Bills Across Hatfield, Missouri
In Hatfield, located in Harrison County, MO, property tax bills are calculated based on the assessed value of a home, which is a percentage of its market value. The median home price in Hatfield is $46,455. Homeowners in this area can expect their property tax bills to vary significantly, with the 25th percentile at $198 and the 75th percentile reaching $1,148. For those at the 90th percentile, the tax bill can be as high as $1,932. The tax rate in Hatfield is influenced by local government budgets and the needs of public services such as schools, infrastructure, and emergency services. This means that even within the same county, tax bills can differ based on specific ZIP codes. For instance, the highest median tax bill in Hatfield is $595, which is relatively modest compared to the national median property tax rate of 0.99%. Understanding these factors helps homeowners anticipate their annual tax obligations and plan their finances accordingly.
Average Hatfield Tax Bill
$595
Average Harrison County Tax Bill
$480
Average Missouri Tax Bill
$1,606
Average United States Tax Bill
$2,690
Property Tax Bills Across Hatfield, Missouri
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 64458 | $15 | $198 | $595 | $1,148 | $1,932 |
Source: Ownwell