Nelson, Missouri Property Taxes
The median property tax rate in Nelson, MO is 1.01%, slightly higher than the national median of 0.99% but lower than Missouri's state median of 1.20%. With the median home value in Nelson at $100,390, the typical annual property tax bill reaches $1,021, which is below the national median of $2,690. Property taxes in Nelson are calculated based on the tax assessed value, which often falls below the market value due to various exemptions like the primary residence and agricultural exemptions. Understanding Nelson'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 Nelson 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
Nelson, Missouri Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.01%
Estimate Property Tax Bill
$1,014
Ownwell’s Nelson Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Nelson with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Nelson 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 Nelson, Missouri
Property taxes in Nelson, Missouri, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Nelson is 0.91%, slightly lower than the Missouri state median of 0.97% and below the U.S. national median of 0.99%. Local government entities within Nelson set these rates annually, and they can vary significantly across different neighborhoods. Each year, Nelson 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 Nelson's effective property tax rate to other counties in Missouri and the national median. For comparison, the 65347 zip code has both the highest and lowest median property tax rate of 0.91%. Understanding how these cities compare with Nelson provides valuable insights into the varying tax landscape across Pettis County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Nelson Tax Rate
1.01%
Average Pettis County Tax Rate
1.16%
Average Missouri Tax Rate
1.20%
Average United States Tax Rate
0.99%
Property Tax Rates Across Nelson, Missouri
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 65347 | 0.88% | 0.94% | 1.01% | 1.04% | 1.07% |
Source: Ownwell
Property Tax Assessment Values Across Nelson, Missouri
In Nelson, 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 Pettis County Assessor 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 Nelson, 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 Nelson helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. In Nelson, the zip code 65347 has the highest and lowest median tax bill of $1021.
Average Nelson Assessed Value
$100,390
Average Pettis County Assessed Value
$83,765
Average Missouri Assessed Value
$129,505
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Nelson, Missouri
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 65347 | $32,282 | $73,280 | $100,390 | $152,440 | $227,812 |
Source: Ownwell
Property Tax Bills Across Nelson, Missouri
In Nelson, Pettis County, MO, property tax bills are calculated based on the assessed value of a home, which is a percentage of its market value. For instance, if the median home price is $100,390, the assessed value is determined by local assessment ratios. The property tax rate is then applied to this assessed value to calculate the tax bill. Several factors influence the tax bill, including the market value of the property, local tax rates, and any applicable exemptions. In Nelson, the property tax bill can range significantly, with the 25th percentile at $749 and the 75th percentile reaching $1,510. At the 90th percentile, homeowners might see tax bills as high as $2,046. These property taxes are crucial for funding local services such as schools, public safety, and infrastructure. Homeowners need to be aware of these factors, as they directly impact their annual expenses and can vary widely within the region. Comparing these figures to the national median property tax rate of 0.99% highlights the importance of understanding local tax calculations.
Average Nelson Tax Bill
$1,021
Average Pettis County Tax Bill
$930
Average Missouri Tax Bill
$1,606
Average United States Tax Bill
$2,690
Property Tax Bills Across Nelson, Missouri
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 65347 | $327 | $749 | $1,021 | $1,510 | $2,046 |
Source: Ownwell