Liberty, Missouri Property Taxes
The median property tax rate in Liberty, MO is 0.93%, slightly below both the national median of 0.99% and the Missouri state median of 1.20%. With the median home value in Liberty at $73,500, the typical annual property tax bill is $168, significantly lower than the national median of $2,690. Property taxes in Liberty are calculated based on the tax assessed value, which is often less than the market value due to various exemptions like the primary residence and agricultural exemptions. Understanding Liberty's property tax system, exploring available exemptions, and identifying opportunities for reductions can lead to substantial annual savings. Whether you're in the heart of Liberty 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
Liberty, Missouri Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.93%
Estimate Property Tax Bill
$684
Ownwell’s Liberty Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Liberty with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Liberty 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 Liberty, Missouri
Property taxes in Liberty, Missouri, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Liberty is 1.34%, which is higher than both the Missouri state median of 0.97% and the U.S. national median of 0.99%. Local government entities within Liberty set these rates annually, and they can vary significantly across different neighborhoods. Each year, Liberty 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 Liberty's effective property tax rate to other counties in Missouri and the national median. For comparison, the 64068 zip code has the highest median property tax rate of 1.34%, while the same zip code also has the lowest median tax rate of 1.34%. Understanding how these cities compare with Liberty provides valuable insights into the varying tax landscape across Clay County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Liberty Tax Rate
0.93%
Average Morgan County Tax Rate
0.87%
Average Missouri Tax Rate
1.20%
Average United States Tax Rate
0.99%
Property Tax Rates Across Liberty, Missouri
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 64068 | 0.83% | 0.85% | 0.93% | 1.41% | 2.15% |
Source: Ownwell
Property Tax Assessment Values Across Liberty, Missouri
Understanding the difference between "market value" and "assessed value" is crucial for comprehending property taxes in Liberty, 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 local 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 Liberty, 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 Liberty helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The highest median tax bill in Liberty is $168.00 in the 64068 zip code, while the lowest median tax bill is also $168.00 in the 64068 zip code.
Average Liberty Assessed Value
$73,500
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 Liberty, Missouri
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 64068 | $1,200 | $2,000 | $73,500 | $166,800 | $268,800 |
Source: Ownwell
Property Tax Bills Across Liberty, Missouri
In Liberty, located in Morgan County, MO, property tax bills are calculated based on the assessed value of a property, which is determined by the county assessor. The assessed value is a percentage of the property's market value. Homeowners in Liberty can expect their property tax bill to vary significantly depending on the value of their property and the local tax rate. For instance, the median home price in Liberty is $73,500, and the property tax rate is applied to this assessed value to determine the annual tax bill. Several factors influence the tax bill, including property size, improvements, and market conditions. Tax bills in Liberty range widely, with the 25th percentile at $39, the 75th percentile at $1,428, and the 90th percentile reaching up to $2,496. This variability shows how different properties can incur vastly different tax liabilities. Compared to the national median property tax rate of 0.99%, Liberty's rates can significantly impact homeowners, potentially making property taxes a substantial part of their annual expenses.
Average Liberty Tax Bill
$168
Average Morgan County Tax Bill
$420
Average Missouri Tax Bill
$1,606
Average United States Tax Bill
$2,690
Property Tax Bills Across Liberty, Missouri
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 64068 | $23 | $39 | $168 | $1,428 | $2,496 |
Source: Ownwell