Tucson, Missouri Property Taxes
The median property tax rate in Tucson, MO is 1.88%, considerably higher than both the national median of 0.99% and the Missouri state median of 1.20%. With the median home value in Tucson at $3,600, the typical annual property tax bill reaches $49, which is significantly lower than the national median of $2,690. Property taxes in Tucson 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 Tucson'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 Tucson 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
Tucson, 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 Tucson Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Tucson with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Tucson 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 Tucson, Missouri
Property taxes in Tucson, Missouri, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Tucson is 1.88%, significantly higher than both the Missouri state median and the U.S. national median of 0.99%. Local government entities within Tucson set these rates annually, and they can vary significantly across different neighborhoods. Each year, Tucson 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. Understanding how these cities compare with Tucson 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 Tucson Tax Rate
1.88%
Average Morgan County Tax Rate
0.87%
Average Missouri Tax Rate
1.20%
Average United States Tax Rate
0.99%
Property Tax Rates Across Tucson, Missouri
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
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Source: Ownwell
Property Tax Assessment Values Across Tucson, Missouri
In Tucson, 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 Tucson, 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 Tucson helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Tucson Assessed Value
$3,600
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 Tucson, Missouri
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|
Source: Ownwell
Property Tax Bills Across Tucson, Missouri
In Tucson, located in Morgan County, MO, property tax bills are calculated based on the assessed value of the property. The assessed value is a percentage of the property's market value, which is determined by the county assessor. Factors such as property size, location, and improvements can influence this assessed value. Once the assessed value is established, the local tax rate is applied to calculate the annual tax bill. For homeowners in Tucson, the median home price is $3,600. Property tax bills can vary significantly, with those in the 25th percentile paying around $44, while those in the 75th percentile pay approximately $55. Homeowners in the 90th percentile face tax bills of about $59. Comparatively, the national median property tax rate is 0.99%, making Tucson's rates relatively manageable for most residents. Understanding these factors can help homeowners anticipate their property tax obligations and plan their finances accordingly.
Average Tucson Tax Bill
$49
Average Morgan County Tax Bill
$420
Average Missouri Tax Bill
$1,606
Average United States Tax Bill
$2,690
Property Tax Bills Across Tucson, Missouri
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
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Source: Ownwell