Imperial, Missouri Property Taxes
The median property tax rate in Imperial, MO is 1.23%, which is considerably higher than both the national median of 0.99% and the Missouri state median of 1.20%. With a median home value in Imperial, the typical annual property tax bill reaches $835, which is significantly lower than the national median of $2,690. Property taxes in Imperial 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 Imperial'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 Imperial 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
Imperial, Missouri Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.23%
Estimate Property Tax Bill
$1,231
Ownwell’s Imperial Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Imperial with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Imperial 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 Imperial, Missouri
Property taxes in Imperial, Missouri, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Imperial is 1.23%, which is higher than the U.S. national median of 0.99%. Local government entities within Imperial set these rates annually, and they can vary significantly across different neighborhoods. Each year, Imperial 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 Imperial's effective property tax rate to other counties in Missouri and the national median. For comparison, the 63052 zip code has the highest median property tax rate of 1.23%, while the same zip code also has the lowest median tax rate of 1.23%. Understanding how these cities compare with Imperial provides valuable insights into the varying tax landscape across Morgan County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Imperial Tax Rate
1.23%
Average Morgan County Tax Rate
0.87%
Average Missouri Tax Rate
1.20%
Average United States Tax Rate
0.99%
Property Tax Rates Across Imperial, Missouri
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 63052 | 0.90% | 1.03% | 1.23% | 1.44% | 1.56% |
Source: Ownwell
Property Tax Assessment Values Across Imperial, Missouri
In Imperial, 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 Morgan 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 Imperial, 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 instance, the median property tax bill in Imperial is $835, with the zip code 63052 experiencing both the highest and lowest median tax bills. Being aware of these valuation processes helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Imperial Assessed Value
$100,050
Average Morgan County Assessed Value
$49,350
Average Missouri Assessed Value
$129,505
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Imperial, Missouri
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 63052 | $22,810 | $51,775 | $100,050 | $148,325 | $177,290 |
Source: Ownwell
Property Tax Bills Across Imperial, Missouri
In Imperial, located in Morgan County, MO, property tax bills are calculated based on the assessed value of a home, which is determined by the county assessor. The assessed value is typically a percentage of the home's market value. For example, with a median home price of $100,050, the tax bill can vary significantly. Homeowners in the 25th percentile pay around $446, while those in the 75th percentile see bills closer to $1,224. The highest median tax bill in the area is $835, found in the 63052 zip code. Several factors influence the tax bill, including the property's assessed value, local tax rates, and any applicable exemptions or deductions. These elements combine to determine the final amount owed. Compared to the national median property tax rate of 0.99%, Imperial's rates can vary, impacting homeowners differently based on their property's value and location within the city. Understanding these factors helps homeowners anticipate their tax obligations and manage their finances accordingly.
Average Imperial Tax Bill
$835
Average Morgan County Tax Bill
$420
Average Missouri Tax Bill
$1,606
Average United States Tax Bill
$2,690
Property Tax Bills Across Imperial, Missouri
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 63052 | $213 | $446 | $835 | $1,224 | $1,458 |
Source: Ownwell