Mora, Missouri Property Taxes
The median property tax rate in Mora, MO is 0.69%, considerably lower than both the national median of 0.99% and the Missouri state median of 1.20%. With the median home value in Mora, the typical annual property tax bill reaches $516, significantly below the national median of $2,690. Property taxes in Mora 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 Mora'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 Mora 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
Mora, Missouri Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.69%
Estimate Property Tax Bill
$548
Ownwell’s Mora Property Tax Bill Calculator is a valuable tool for homeowners, real estate investors, and potential buyers to estimate their annual property taxes in Mora with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Mora 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 Mora, Missouri
Property taxes in Mora, Missouri, are vital in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Mora is 0.69%, lower than both the Missouri state median and the U.S. national median of 0.99%. Local government entities within Mora set these rates annually, and they can vary significantly across different neighborhoods. Each year, Mora 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 Mora's effective property tax rate to other counties in Missouri and the national median. For comparison, the 65345 zip code has both the highest and lowest median property tax rate of 0.69%. Understanding how these cities compare with Mora 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 Mora Tax Rate
0.69%
Average Morgan County Tax Rate
0.87%
Average Missouri Tax Rate
1.20%
Average United States Tax Rate
0.99%
Property Tax Rates Across Mora, Missouri
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 65345 | 0.63% | 0.64% | 0.69% | 0.76% | 0.81% |
Source: Ownwell
Property Tax Assessment Values Across Mora, Missouri
In Mora, 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 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 Mora, 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 Mora 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 65345 at $516, while the lowest median tax bill is also in 65345 at $516.
Average Mora Assessed Value
$79,400
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 Mora, Missouri
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 65345 | $29,450 | $39,875 | $79,400 | $132,525 | $209,500 |
Source: Ownwell
Property Tax Bills Across Mora, Missouri
In MORA, Morgan County, MO, property tax bills are calculated based on the assessed value of a home, which is derived from the market value. The median home price in the area is $79,400. Property taxes are then levied by applying the local tax rate to this assessed value. Several factors influence the final tax bill, including the property's location within specific school districts, municipal boundaries, and any applicable exemptions or deductions. Homeowners in MORA typically see varied tax bills. For example, the 25th percentile tax bill is around $273, while the 75th percentile reaches $966. At the higher end, the 90th percentile tax bill can escalate to $1,375. These figures highlight the range of property tax obligations homeowners might face, influenced by factors like property improvements and neighborhood developments. Compared to the national median property tax rate of 0.99%, the effective rates in MORA can vary, impacting the financial planning and budgeting for residents.
Average Mora Tax Bill
$516
Average Morgan County Tax Bill
$420
Average Missouri Tax Bill
$1,606
Average United States Tax Bill
$2,690
Property Tax Bills Across Mora, Missouri
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 65345 | $182 | $273 | $516 | $966 | $1,375 |
Source: Ownwell