Slater, Missouri Property Taxes
The median property tax rate in Slater, MO is 2.29%, considerably higher than both the national median of 0.99% and the Missouri state median of 1.20%. With the median home value in Slater, the typical annual property tax bill reaches $41, which is significantly lower than the national median of $2,690. Property taxes in Slater 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 Slater'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 Slater 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
Slater, Missouri Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
2.29%
Estimate Property Tax Bill
$41
Ownwell’s Slater Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Slater with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Slater 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 Slater, Missouri
Property taxes in Slater, Missouri, are crucial for funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Slater is 1.04%, slightly higher than both the Missouri state median of 0.93% and the U.S. national median of 0.99%. Local government entities within Slater set these rates annually, and they can vary significantly across different neighborhoods. Each year, Slater 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 Slater's effective property tax rate to other counties in Missouri and the national median. For comparison, the 65349 zip code has the highest median property tax rate of 1.04%, while the 65349 zip code also has the lowest median tax rate of 1.04%. Understanding how these cities compare with Slater provides valuable insights into the varying tax landscape across Saline County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Slater Tax Rate
2.29%
Average Morgan County Tax Rate
0.87%
Average Missouri Tax Rate
1.20%
Average United States Tax Rate
0.99%
Property Tax Rates Across Slater, Missouri
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 65349 | 2.29% | 2.29% | 2.29% | 2.29% | 2.29% |
Source: Ownwell
Property Tax Assessment Values Across Slater, Missouri
In Slater, 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 Slater, 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 Slater helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The highest tax bills can be found in zip codes with values around $41, while the lowest also hover around $41.
Average Slater Assessed Value
$1,800
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 Slater, Missouri
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 65349 | $1,800 | $1,800 | $1,800 | $1,800 | $1,800 |
Source: Ownwell
Property Tax Bills Across Slater, Missouri
In Slater, located in Morgan County, MO, property tax bills are calculated based on the assessed value of a home. The assessed value is a percentage of the property's market value, determined by local government assessors. This assessed value is then multiplied by the local tax rate to determine the annual property tax bill. For homeowners in Slater, the property tax rate is a crucial factor. The median home price in the area is $1,800, and the property tax bill at the 25th, 75th, and 90th percentiles is consistently $41. This suggests a relatively low and stable property tax burden compared to the national median property tax rate of 0.99%. Factors such as property improvements, neighborhood developments, and changes in the local tax rate can influence the assessed value and, consequently, the tax bill. For homeowners, understanding these factors is essential for financial planning and ensuring they are not overpaying on their property taxes.
Average Slater Tax Bill
$41
Average Morgan County Tax Bill
$420
Average Missouri Tax Bill
$1,606
Average United States Tax Bill
$2,690
Property Tax Bills Across Slater, Missouri
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 65349 | $41 | $41 | $41 | $41 | $41 |
Source: Ownwell