Tampa, Missouri Property Taxes
The median property tax rate in Tampa, Missouri is 0.94%, slightly below the national median of 0.99% and significantly lower than the Missouri state median of 1.20%. With the median home value in Tampa, the typical annual property tax bill is $124, far below the national median of $2,690. Property taxes in Tampa are calculated based on the tax assessed value, which often falls below the market value due to various exemptions such as primary residence and agricultural exemptions. Understanding Tampa'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 Tampa 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
Tampa, Missouri Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.94%
Estimate Property Tax Bill
$124
Ownwell’s Tampa Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Tampa with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Tampa 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 Tampa, Missouri
Property taxes in Tampa, Missouri, play a crucial role in funding essential local services, including public schools, road maintenance, and emergency services. The median tax rate in Tampa stands at 0.94%, slightly lower than the U.S. national median of 0.99%. Local government entities within Tampa set these rates annually, and they can vary significantly across different neighborhoods. Each year, Tampa 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 Tampa's effective property tax rate to other counties in Missouri and the national median. For comparison, the highest median property tax rate in the region is found in the 63017 zip code at 1.31%, while the lowest median tax rate is in the 65084 zip code at 0.50%. Understanding how these areas compare with Tampa 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 Tampa Tax Rate
0.94%
Average Morgan County Tax Rate
0.87%
Average Missouri Tax Rate
1.20%
Average United States Tax Rate
0.99%
Property Tax Rates Across Tampa, Missouri
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|
Source: Ownwell
Property Tax Assessment Values Across Tampa, Missouri
In Tampa, 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 Tampa, 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. For instance, the median home price in Tampa is $13,200, with tax bills ranging from $96 at the 25th percentile to $168 at the 90th percentile. Being aware of these valuation processes helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Tampa Assessed Value
$13,200
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 Tampa, Missouri
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|
Source: Ownwell
Property Tax Bills Across Tampa, Missouri
Property tax bills in Tampa, located in Morgan County, MO, are calculated based on the assessed value of the property and the local tax rate. The assessed value is a percentage of the property's market value, which is determined by the county assessor. In Morgan County, the tax rate is applied to this assessed value to determine the annual tax bill. For homeowners in Tampa, the median home price is $13,200. Property tax bills can vary significantly, ranging from $96 at the 25th percentile to $152 at the 75th percentile, and up to $168 at the 90th percentile. These figures show that while some homeowners may face relatively low property tax bills, others might pay considerably more, depending on the assessed value of their property and any applicable exemptions or deductions. Compared to the national median property tax rate of 0.99%, Tampa's property taxes are relatively modest, making it an attractive place for homeowners looking for affordability. However, the variation in tax bills highlights the importance of understanding how local assessments and rates impact individual financial obligations.
Average Tampa Tax Bill
$124
Average Morgan County Tax Bill
$420
Average Missouri Tax Bill
$1,606
Average United States Tax Bill
$2,690
Property Tax Bills Across Tampa, Missouri
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|
Source: Ownwell