Moscow Mills, Missouri Property Taxes
The median property tax rate in Moscow Mills, MO is 1.70%, considerably higher than both the national median of 0.99% and the Missouri state median of 1.20%. With the median home value in Moscow Mills, the typical annual property tax bill reaches $36, which is significantly lower than the national median of $2,690. Property taxes in Moscow Mills 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 Moscow Mills' property tax system, exploring available exemptions, and identifying opportunities for reductions can lead to significant annual savings. Whether you're in the heart of Moscow Mills 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
Moscow Mills, 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 Moscow Mills Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Moscow Mills with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Moscow Mills 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 Moscow Mills, Missouri
Property taxes in Moscow Mills, Missouri, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Moscow Mills is 1.15%, which is higher than both the Missouri state median of 0.91% and the U.S. national median of 0.99%. Local government entities within Moscow Mills set these rates annually, and they can vary significantly across different neighborhoods. Each year, Moscow Mills 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 Moscow Mills' effective property tax rate to other counties in Missouri and the national median. For comparison, the 63362 zip code has the highest median property tax rate of 1.15%, while the same zip code also has the lowest median tax rate of 1.15%. Understanding how these cities compare with Moscow Mills provides valuable insights into the varying tax landscape across Lincoln County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Moscow Mills Tax Rate
1.70%
Average Morgan County Tax Rate
0.87%
Average Missouri Tax Rate
1.20%
Average United States Tax Rate
0.99%
Property Tax Rates Across Moscow Mills, Missouri
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 63362 | 1.07% | 1.28% | 1.70% | 2.04% | 2.12% |
Source: Ownwell
Property Tax Assessment Values Across Moscow Mills, Missouri
In Moscow Mills, 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 local 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 Moscow Mills, 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 instance, homeowners in zip codes with the highest tax bills see amounts around $704, while those in areas with the lowest tax bills see amounts around $25. 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 Moscow Mills helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Moscow Mills Assessed Value
$2,000
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 Moscow Mills, Missouri
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 63362 | $1,230 | $1,725 | $2,000 | $28,125 | $75,150 |
Source: Ownwell
Property Tax Bills Across Moscow Mills, Missouri
In Moscow Mills, Morgan County, MO, property tax bills are calculated based on the assessed value of a home, which is a percentage of its market value. The local tax rate is then applied to this assessed value to determine the annual tax bill. For example, the median home price in the area is $2000, and the tax bills can vary significantly. The 25th percentile tax bill is $25, while the 75th percentile is $279, and the 90th percentile reaches $704. These variations are influenced by factors such as property size, location, and any applicable exemptions or deductions. Homeowners in Moscow Mills should be aware that their property taxes can impact their overall housing costs and budget planning. Comparing these figures to the national median property tax rate of 0.99%, it's evident that the local tax burden can vary widely, potentially offering some homeowners a more favorable tax situation. Understanding these factors can help homeowners better anticipate their financial obligations and make informed decisions about their properties.
Average Moscow Mills Tax Bill
$36
Average Morgan County Tax Bill
$420
Average Missouri Tax Bill
$1,606
Average United States Tax Bill
$2,690
Property Tax Bills Across Moscow Mills, Missouri
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 63362 | $21 | $25 | $36 | $279 | $704 |
Source: Ownwell