Mound City, Missouri Property Taxes
The median property tax rate in Mound City, MO is 1.01%, slightly higher than the national median of 0.99% but lower than the Missouri state median of 1.20%. With a median home value of $50,500 in Mound City, the typical annual property tax bill amounts to $509, which is significantly below the national median of $2,690. Property taxes here are calculated based on the tax assessed value, which is generally lower than the market value due to exemptions like the primary residence and agricultural exemptions. Understanding Mound City's property tax system, exploring available exemptions, and identifying opportunities for reductions can lead to meaningful annual savings. Whether you're in the heart of Mound City or another part of the city, grasping the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Mound City, Missouri Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.01%
Estimate Property Tax Bill
$510
Ownwell’s Mound City Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Mound City with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Mound City 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 Mound City, Missouri
Property taxes in Mound City, Missouri, are vital in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Mound City is 1.01%, higher than both the Missouri state median and the U.S. national median of 0.99%. Local government entities within Mound City set these rates annually, and they can vary significantly across different neighborhoods. Each year, Mound City 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 Mound City's effective property tax rate to other areas in Missouri and the national median. For comparison, the 64470 zip code has the highest median property tax rate of 1.01%, while the 64437 zip code has the lowest median tax rate of 0.66%. Understanding how these areas compare with Mound City provides valuable insights into the varying tax landscape across Holt County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Mound City Tax Rate
1.01%
Average Holt County Tax Rate
1.18%
Average Missouri Tax Rate
1.20%
Average United States Tax Rate
0.99%
Property Tax Rates Across Mound City, Missouri
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 64437 | 0.66% | 0.66% | 0.66% | 0.66% | 0.66% |
| 64470 | 0.66% | 0.66% | 1.01% | 1.38% | 1.38% |
Source: Ownwell
Property Tax Assessment Values Across Mound City, Missouri
In Mound City, 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 Holt 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 Mound City, 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 example, in the zip code 64437, the highest median tax bill is $1,216, while in the zip code 64470, the lowest median tax bill is $506. Being aware of these valuation processes in Mound City helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Mound City Assessed Value
$50,500
Average Holt County Assessed Value
$42,789
Average Missouri Assessed Value
$129,505
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Mound City, Missouri
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 64437 | $125,375 | $147,187 | $183,542 | $219,896 | $241,708 |
| 64470 | $8,583 | $23,000 | $50,368 | $96,044 | $162,965 |
Source: Ownwell
Property Tax Bills Across Mound City, Missouri
In Mound City, located in Holt County, MO, property tax bills are calculated based on the assessed value of a home, which is a percentage of its market value. For example, with a median home price of $50,500, the assessed value is determined and then multiplied by the local property tax rate. The tax bill can vary significantly depending on the home's assessed value and the specific tax rate applied. Several factors influence the final tax bill, including the home's location, any applicable exemptions, and the specific tax rates set by local taxing authorities. In Mound City, the tax bills range from the 25th percentile at $250 to the 90th percentile at $1,622, reflecting the variability in property values and tax rates within the area. Homeowners in the highest median tax bill zip code, 64437, pay around $1,216, whereas those in the lowest median tax bill zip code, 64470, pay approximately $506. This variability impacts homeowners by affecting their annual financial obligations and potentially influencing their decisions regarding property ownership and investment.
Average Mound City Tax Bill
$509
Average Holt County Tax Bill
$458
Average Missouri Tax Bill
$1,606
Average United States Tax Bill
$2,690
Property Tax Bills Across Mound City, Missouri
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 64437 | $831 | $975 | $1,216 | $1,457 | $1,602 |
| 64470 | $95 | $249 | $506 | $934 | $1,620 |
Source: Ownwell