Sugar Creek, Missouri Property Taxes
The median property tax rate in Sugar Creek, MO is 1.00%, just slightly above the national median of 0.99% but below Missouri's state median of 1.20%. With the median home value in Sugar Creek at $76,200, the typical annual property tax bill amounts to $664, which is significantly lower than the national median of $2,690. Property taxes in Sugar Creek are calculated based on the assessed value, which often falls below the market value due to various exemptions such as primary residence and agricultural exemptions. Understanding Sugar Creek'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 Sugar Creek 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
Sugar Creek, Missouri Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1%
Estimate Property Tax Bill
$762
Ownwell’s Sugar Creek Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Sugar Creek with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Sugar Creek 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 Sugar Creek, Missouri
Property taxes in Sugar Creek, Missouri, are essential in funding key local services such as public schools, road maintenance, and emergency services. The median tax rate in Sugar Creek is 1.00%, which is higher than the U.S. national median of 0.99%. Local government entities within Sugar Creek set these rates annually, and they can vary significantly across different neighborhoods. Each year, Sugar Creek 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 Sugar Creek's effective property tax rate to other areas in Missouri and the national median. For comparison, the 64054 zip code has the highest median property tax rate of 1.00%, while the same zip code also has the lowest median tax rate of 1.00%. Understanding how these areas compare with Sugar Creek 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 Sugar Creek Tax Rate
1.00%
Average Morgan County Tax Rate
0.87%
Average Missouri Tax Rate
1.20%
Average United States Tax Rate
0.99%
Property Tax Rates Across Sugar Creek, Missouri
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 64054 | 0.88% | 0.93% | 1.00% | 1.08% | 1.13% |
Source: Ownwell
Property Tax Assessment Values Across Sugar Creek, Missouri
In Sugar Creek, 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 Sugar Creek, 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. Zip code 64054 has the highest median tax bill of $664, which is the same as the lowest median tax bill in the area. Being aware of these valuation processes in Sugar Creek helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Sugar Creek Assessed Value
$76,200
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 Sugar Creek, Missouri
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 64054 | $23,080 | $43,000 | $76,200 | $109,400 | $129,320 |
Source: Ownwell
Property Tax Bills Across Sugar Creek, Missouri
In Sugar Creek, property tax bills are calculated based on the assessed value of a home, which is a percentage of its market value. The market value is determined by local assessors who evaluate various factors such as location, property size, and condition. Once the assessed value is established, local tax rates are applied to determine the final tax bill. For instance, with a median home price of $76,200 in Sugar Creek, homeowners can expect varying tax bills. The 25th percentile tax bill is around $389, while the 75th percentile reaches $939. At the 90th percentile, tax bills can go up to $1,105. These figures highlight the range of property tax burdens homeowners might face, depending on their property's assessed value and specific circumstances. Comparatively, the national median property tax rate is 0.99%, making it essential for Sugar Creek homeowners to understand how local rates and property assessments impact their annual tax obligations. This understanding helps homeowners better manage their finances and anticipate future tax bills.
Average Sugar Creek Tax Bill
$664
Average Morgan County Tax Bill
$420
Average Missouri Tax Bill
$1,606
Average United States Tax Bill
$2,690
Property Tax Bills Across Sugar Creek, Missouri
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 64054 | $224 | $389 | $664 | $939 | $1,105 |
Source: Ownwell