Chula, Missouri Property Taxes
The median property tax rate in Chula, MO is 0.96%, slightly lower than both the national median of 0.99% and Missouri's state median of 1.20%. With the median home value in Chula at $61,800, the typical annual property tax bill reaches $704, which is significantly less than the national median of $2,690. Property taxes in Chula are calculated based on the assessed value, which often falls below the market value due to various exemptions like the primary residence and agricultural exemptions. Understanding Chula'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 Chula 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
Chula, Missouri Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.96%
Estimate Property Tax Bill
$593
Ownwell’s Chula Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Chula with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Chula 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 Chula, Missouri
Property taxes in Chula, Missouri, are crucial for funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Chula is 0.96%, which is slightly lower than the U.S. national median of 0.99%. Local government entities within Chula set these rates annually, and they can vary significantly across different neighborhoods. Each year, Chula 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 Chula's effective property tax rate to other counties in Missouri and the national median. For comparison, the 64635 zip code has the highest median property tax rate of 0.96%, while the same zip code also has the lowest median tax rate of 0.96%. Understanding how these cities compare with Chula provides valuable insights into the varying tax landscape across Linn County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Chula Tax Rate
0.96%
Average Linn County Tax Rate
1.13%
Average Missouri Tax Rate
1.20%
Average United States Tax Rate
0.99%
Property Tax Rates Across Chula, Missouri
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 64635 | 0.78% | 0.80% | 0.96% | 1.02% | 1.20% |
Source: Ownwell
Property Tax Assessment Values Across Chula, Missouri
In Chula, 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 Linn County Assessor's Office 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 Chula, 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 Chula helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The zip code with the highest median tax bill is 64635, with a bill of $704.00, which is significantly above the national median property tax rate of 0.99%.
Average Chula Assessed Value
$61,800
Average Linn County Assessed Value
$25,200
Average Missouri Assessed Value
$129,505
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Chula, Missouri
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 64635 | $25,440 | $42,600 | $61,800 | $96,600 | $163,220 |
Source: Ownwell
Property Tax Bills Across Chula, Missouri
In Chula, property tax bills are calculated based on the assessed value of a homeowner's property, which is a percentage of its market value. The local tax rate is then applied to this assessed value to determine the tax bill. Several factors influence the final tax amount, including property size, location, and any applicable exemptions or deductions. For instance, the median home price in Chula is $61,800. Homeowners in the 25th percentile can expect a tax bill around $345, while those in the 75th percentile might see a bill closer to $1,179. At the 90th percentile, the tax bill can reach up to $1,340. Comparatively, the highest median tax bill in the region is $704, which is significantly lower than the national median property tax rate of 0.99%. These property tax bills can significantly impact homeowners, influencing their annual budgets and long-term financial planning. Understanding how these taxes are calculated can help homeowners better manage their expenses and take advantage of any available tax relief programs.
Average Chula Tax Bill
$704
Average Linn County Tax Bill
$264
Average Missouri Tax Bill
$1,606
Average United States Tax Bill
$2,690
Property Tax Bills Across Chula, Missouri
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 64635 | $255 | $345 | $704 | $1,179 | $1,340 |
Source: Ownwell