Houston Lake, Missouri Property Taxes
The median property tax rate in Houston Lake, MO is 2.51%, significantly higher than both the national median of 0.99% and Missouri's state median of 1.20%. With a median home value of $115,669 in Houston Lake, the typical annual property tax bill reaches $2,899, surpassing the national median of $2,690. Property taxes in Houston Lake are determined 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 Houston Lake'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 Houston Lake 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
Houston Lake, Missouri Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
2.51%
Estimate Property Tax Bill
$2,903
Ownwell’s Houston Lake Property Tax Bill Calculator is a valuable tool for homeowners, real estate investors, and potential buyers to estimate their annual property taxes in Houston Lake with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Houston Lake to provide an accurate estimate of your property tax bill. This insightful tool allows you to understand potential tax liabilities better. For those interested in more detailed trends at the neighborhood level, additional localized information is available. Your property’s assessed value is determined by the county for property tax calculations, taking into account any applicable exemptions.
Property Tax Rates Across Houston Lake, Missouri
Property taxes in Houston Lake, Missouri, are crucial for funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Houston Lake is 1.03%, slightly higher than the Missouri state median of 0.91% and above the U.S. national median of 0.99%. Local government entities within Houston Lake set these rates annually, and they can vary significantly across different neighborhoods. Each year, Houston Lake 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 Houston Lake's effective property tax rate to other counties in Missouri and the national median. For comparison, the 64151 zip code has the highest median property tax rate of 1.03%, while the same zip code also has the lowest median tax rate of 1.03%. Understanding how these cities compare with Houston Lake provides valuable insights into the varying tax landscape across Platte County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Houston Lake Tax Rate
2.51%
Average Platte County Tax Rate
1.45%
Average Missouri Tax Rate
1.20%
Average United States Tax Rate
0.99%
Property Tax Rates Across Houston Lake, Missouri
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 64151 | 2.51% | 2.51% | 2.51% | 2.51% | 2.51% |
Source: Ownwell
Property Tax Assessment Values Across Houston Lake, Missouri
In Houston Lake, 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 Platte 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 Houston Lake, 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 Houston Lake helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The median home price in Houston Lake is $115,669, with the highest and lowest median tax bills both at $2,899 in the zip code 64151.
Average Houston Lake Assessed Value
$115,669
Average Platte County Assessed Value
$243,632
Average Missouri Assessed Value
$129,505
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Houston Lake, Missouri
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 64151 | $115,669 | $115,669 | $115,669 | $115,669 | $115,669 |
Source: Ownwell
Property Tax Bills Across Houston Lake, Missouri
In Houston Lake, Platte County, MO, property tax bills are calculated based on the assessed value of a home. The assessed value is typically a percentage of the home's market value, which is determined by the county assessor. For instance, if the median home price in Houston Lake is $115,669, the assessed value would be a fraction of this amount, depending on local assessment ratios. Once the assessed value is established, the property tax rate is applied to calculate the tax bill. In Houston Lake, the median property tax bill is $2,899, which is significantly higher than the national median property tax rate of 0.99%. This higher tax bill can be attributed to various local factors, including the specific needs and budget requirements of the county. Homeowners in Houston Lake should be aware that their property tax bills can significantly impact their annual expenses. Factors such as changes in the assessed value of their property or adjustments in the tax rate can lead to fluctuations in their tax obligations, affecting their overall financial planning.
Average Houston Lake Tax Bill
$2,899
Average Platte County Tax Bill
$3,540
Average Missouri Tax Bill
$1,606
Average United States Tax Bill
$2,690
Property Tax Bills Across Houston Lake, Missouri
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 64151 | $2,899 | $2,899 | $2,899 | $2,899 | $2,899 |
Source: Ownwell