Carthage, Missouri Property Taxes
The median property tax rate in Carthage, MO is 1.17%, slightly higher than the national median of 0.99% but below the Missouri state median of 1.20%. With a median home value of $112,000, the typical annual property tax bill in Carthage reaches $1,305, which is lower than the national median of $2,690. Property taxes in Carthage are calculated based on the tax assessed value, which is often less than the market value due to exemptions such as those for primary residences and agricultural properties. Understanding Carthage'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 Carthage or another part of the city, comprehending the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Carthage, Missouri Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.17%
Estimate Property Tax Bill
$1,310
Ownwell’s Carthage Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Carthage with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Carthage 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 Carthage, Missouri
Property taxes in Carthage, Missouri, are crucial for funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Carthage is 1.17%, higher than the U.S. national median of 0.99%. Local government entities within Carthage set these rates annually, and they can vary significantly across different neighborhoods. Each year, Carthage 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 Carthage's effective property tax rate to other counties in Missouri and the national median. For comparison, the 64836 zip code has the highest median property tax rate of 1.17%, while the same zip code also has the lowest median tax rate of 1.17%. Understanding how these cities compare with Carthage provides valuable insights into the varying tax landscape across Newton County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Carthage Tax Rate
1.17%
Average Newton County Tax Rate
1.09%
Average Missouri Tax Rate
1.20%
Average United States Tax Rate
0.99%
Property Tax Rates Across Carthage, Missouri
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 64836 | 1.17% | 1.17% | 1.17% | 1.17% | 1.17% |
Source: Ownwell
Property Tax Assessment Values Across Carthage, Missouri
In Carthage, 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 Newton 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 Carthage, 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. The median home price in Carthage is $112,000, with the median tax bill being $1,305. The zip code with both the highest and lowest median tax bills is 64836, at $1,305. Being aware of these valuation processes helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Carthage Assessed Value
$112,000
Average Newton County Assessed Value
$71,800
Average Missouri Assessed Value
$129,505
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Carthage, Missouri
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 64836 | $112,000 | $112,000 | $112,000 | $112,000 | $112,000 |
Source: Ownwell
Property Tax Bills Across Carthage, Missouri
In Carthage, MO, located in Newton County, property tax bills are calculated based on the assessed value of a home, which is determined as a percentage of its market value. The median home price in Carthage is $112,000. Property taxes are then calculated by applying the local tax rate to this assessed value. The tax rate in Carthage is influenced by various factors, including local government budgets, school district funding, and public services. Homeowners in Carthage can expect their property tax bills to be around $1,305, which is consistent across different percentiles. This figure is notably higher than the national median property tax rate of 0.99%, reflecting the specific financial needs and budgetary requirements of the local community. For homeowners, understanding how these taxes are calculated is crucial as it directly affects their annual expenses. High property taxes can impact the overall affordability of owning a home, influencing decisions on buying, selling, or investing in property within the area.
Average Carthage Tax Bill
$1,305
Average Newton County Tax Bill
$791
Average Missouri Tax Bill
$1,606
Average United States Tax Bill
$2,690
Property Tax Bills Across Carthage, Missouri
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 64836 | $1,305 | $1,305 | $1,305 | $1,305 | $1,305 |
Source: Ownwell