Chilhowee, Missouri Property Taxes
The median property tax rate in Chilhowee, MO is 1.35%, considerably higher than both the national median of 0.99% and the Missouri state median of 1.20%. With the median home value in Chilhowee, the typical annual property tax bill reaches $494, which is significantly lower than the national median of $2,690. Property taxes in Chilhowee 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 Chilhowee'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 Chilhowee or another part of Johnson County, understanding the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Chilhowee, Missouri Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.35%
Estimate Property Tax Bill
$507
Ownwell’s Chilhowee Property Tax Bill Calculator allows homeowners, real estate investors, and potential buyers to estimate their annual property taxes in Chilhowee with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Chilhowee 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 Johnson County for property tax calculations, accounting for any exemptions that may apply.
Property Tax Rates Across Chilhowee, Missouri
Property taxes in Chilhowee, Missouri, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Chilhowee is 1.35%, significantly higher than both the Missouri state median and the U.S. national median of 0.99%. Local government entities within Chilhowee set these rates annually, and they can vary significantly across different neighborhoods. Each year, Chilhowee 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 Chilhowee's effective property tax rate to other counties in Missouri and the national median. For comparison, the 64733 zip code has the highest median property tax rate of 1.35%, while the 64733 zip code also has the lowest median tax rate of 1.35%. Understanding how these areas compare with Chilhowee provides valuable insights into the varying tax landscape across Johnson County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Chilhowee Tax Rate
1.35%
Average Johnson County Tax Rate
1.24%
Average Missouri Tax Rate
1.20%
Average United States Tax Rate
0.99%
Property Tax Rates Across Chilhowee, Missouri
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 64733 | 1.07% | 1.20% | 1.35% | 1.55% | 1.61% |
Source: Ownwell
Property Tax Assessment Values Across Chilhowee, Missouri
Understanding the difference between "market value" and "assessed value" is crucial for comprehending property taxes in Chilhowee, 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 Johnson 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 Chilhowee, 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. For example, the median home price in Chilhowee is $37,544, with tax bills ranging from $169 at the 25th percentile to $1,657 at the 90th percentile. The highest and lowest median tax bill is $494 in the 64733 zip code. By understanding these valuation concepts, property owners can better navigate their tax responsibilities and identify opportunities for protesting assessments or applying for exemptions to manage the tax burden effectively.
Average Chilhowee Assessed Value
$37,544
Average Johnson County Assessed Value
$74,883
Average Missouri Assessed Value
$129,505
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Chilhowee, Missouri
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 64733 | $7,118 | $11,498 | $37,544 | $92,552 | $132,586 |
Source: Ownwell
Property Tax Bills Across Chilhowee, Missouri
In Chilhowee, property tax bills are calculated based on the assessed value of your home, which is a percentage of its market value. The local assessment rate and the property tax rate set by Johnson County are key factors in determining the final tax bill. For instance, the median home price in Chilhowee is $37,544. Homeowners in the 25th percentile pay around $169, while those in the 75th percentile pay approximately $1,190 annually. At the 90th percentile, tax bills can reach up to $1,657. These tax bills directly impact homeowners by influencing their overall housing costs. Compared to the national median property tax rate of 0.99%, Chilhowee's property taxes can vary significantly, making it crucial for homeowners to understand how local rates compare. The highest and lowest median tax bills in the area are both $494, indicating some consistency in property tax assessments within this specific zip code, 64733. Understanding these factors can help homeowners better anticipate their annual financial obligations.
Average Chilhowee Tax Bill
$494
Average Johnson County Tax Bill
$947
Average Missouri Tax Bill
$1,606
Average United States Tax Bill
$2,690
Property Tax Bills Across Chilhowee, Missouri
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 64733 | $107 | $169 | $494 | $1,190 | $1,657 |
Source: Ownwell