Higginsville, Missouri Property Taxes
The median property tax rate in Higginsville, MO is 1.01%, slightly higher than the national median of 0.99% but lower than the Missouri state median of 1.20%. With the median home value in Higginsville, the typical annual property tax bill reaches $508, which is significantly below the national median of $2,690. Property taxes in Higginsville 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 Higginsville'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 Higginsville or another part of Lafayette County, understanding the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Higginsville, 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 Higginsville Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Higginsville with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Higginsville 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 Higginsville, Missouri
Property taxes in Higginsville, Missouri, are vital in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Higginsville is 1.01%, higher than both the Missouri state median and the U.S. national median of 0.99%. Local government entities within Higginsville set these rates annually, and they can vary significantly across different neighborhoods. Each year, Higginsville 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 Higginsville's effective property tax rate to other counties in Missouri and the national median. For comparison, the 64037 zip code has the highest median property tax rate of 1.01%, while the 64037 zip code also has the lowest median tax rate of 1.01%. Understanding how these cities compare with Higginsville provides valuable insights into the varying tax landscape across Lafayette County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Higginsville Tax Rate
1.01%
Average Lafayette County Tax Rate
1.10%
Average Missouri Tax Rate
1.20%
Average United States Tax Rate
0.99%
Property Tax Rates Across Higginsville, Missouri
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 64037 | 0.76% | 0.81% | 1.01% | 1.31% | 1.34% |
Source: Ownwell
Property Tax Assessment Values Across Higginsville, Missouri
Understanding the difference between "market value" and "assessed value" is crucial for comprehending property taxes in Higginsville, 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 Lafayette 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 Higginsville, 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 Higginsville is $46,586, with tax bills ranging from $273 at the 25th percentile to $1,924 at the 90th percentile. 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 helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Higginsville Assessed Value
$46,586
Average Lafayette County Assessed Value
$57,532
Average Missouri Assessed Value
$129,505
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Higginsville, Missouri
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 64037 | $16,600 | $29,397 | $46,586 | $98,180 | $179,650 |
Source: Ownwell
Property Tax Bills Across Higginsville, Missouri
In Higginsville, located in Lafayette County, MO, property tax bills are determined by multiplying the assessed value of a property by the local tax rate. The assessed value is a percentage of the property's market value, which in this region is influenced by factors such as the property's location, size, and condition. The median home price in Higginsville stands at $46,586. Homeowners in Higginsville experience a range of tax bills. The 25th percentile tax bill is $273, while the 75th percentile tax bill is $975, and the 90th percentile tax bill reaches up to $1,924. The median tax bill in the area is $508, which is significantly lower than the national median property tax rate of 0.99%. These property tax bills impact homeowners by influencing their annual budget and long-term financial planning. Lower tax rates can be a relief for homeowners, making property ownership more affordable compared to areas with higher tax rates.
Average Higginsville Tax Bill
$508
Average Lafayette County Tax Bill
$641
Average Missouri Tax Bill
$1,606
Average United States Tax Bill
$2,690
Property Tax Bills Across Higginsville, Missouri
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 64037 | $173 | $273 | $508 | $975 | $1,924 |
Source: Ownwell