Morse Mill, Missouri Property Taxes
The median property tax rate in Morse Mill, MO is 1.46%, considerably higher than both the national median of 0.99% and the Missouri state median of 1.20%. With the median home value in Morse Mill at $42,700, the typical annual property tax bill reaches $621, which is below the national median of $2,690. Property taxes in Morse Mill 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 Morse Mill'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 Morse Mill 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
Morse Mill, Missouri Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.46%
Estimate Property Tax Bill
$623
Ownwell’s Morse Mill Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Morse Mill with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Morse Mill 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 Morse Mill, Missouri
Property taxes in Morse Mill, Missouri, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Morse Mill is 1.46%, significantly higher than both the Missouri state median and the U.S. national median of 0.99%. Local government entities within Morse Mill set these rates annually, and they can vary significantly across different neighborhoods. Each year, Morse Mill 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 Morse Mill's effective property tax rate to other counties in Missouri and the national median. For comparison, the 63066 zip code has the highest median property tax rate of 1.46%, while the same zip code also has the lowest median tax rate of 1.46%. Understanding how these cities compare with Morse Mill provides valuable insights into the varying tax landscape across Jefferson County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Morse Mill Tax Rate
1.46%
Average Jefferson County Tax Rate
1.33%
Average Missouri Tax Rate
1.20%
Average United States Tax Rate
0.99%
Property Tax Rates Across Morse Mill, Missouri
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 63066 | 1.45% | 1.45% | 1.46% | 1.46% | 1.46% |
Source: Ownwell
Property Tax Assessment Values Across Morse Mill, Missouri
Understanding the difference between "market value" and "assessed value" is crucial for comprehending property taxes in Morse Mill, Missouri. 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 Jefferson 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 Morse Mill, 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 Morse Mill helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The highest and lowest median tax bills in Morse Mill are both $621, found in the 63066 zip code.
Average Morse Mill Assessed Value
$42,700
Average Jefferson County Assessed Value
$133,600
Average Missouri Assessed Value
$129,505
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Morse Mill, Missouri
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 63066 | $39,740 | $40,850 | $42,700 | $44,550 | $45,660 |
Source: Ownwell
Property Tax Bills Across Morse Mill, Missouri
In Morse Mill, property tax bills are determined by assessing the market value of a home and applying the local tax rate to that value. The median home price in Morse Mill is $42,700. Property taxes are calculated based on this assessed value, with the tax rate set by Jefferson County. For homeowners, this means that the tax bill can vary significantly depending on the value of their property. In Morse Mill, the 25th percentile tax bill is $594, while the 75th percentile tax bill is $648. The 90th percentile tax bill reaches up to $664. These figures show that property taxes in Morse Mill are relatively consistent, with the highest and lowest median tax bills both recorded at $621 in the 63066 zip code. Compared to the national median property tax rate of 0.99%, Morse Mill's property tax rates can be considered moderate. Homeowners in Morse Mill should be aware of these factors as they directly impact their annual property tax obligations.
Average Morse Mill Tax Bill
$621
Average Jefferson County Tax Bill
$1,729
Average Missouri Tax Bill
$1,606
Average United States Tax Bill
$2,690
Property Tax Bills Across Morse Mill, Missouri
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 63066 | $578 | $594 | $621 | $648 | $664 |
Source: Ownwell