Morrisville, Missouri Property Taxes
The median property tax rate in Morrisville, MO is 0.96%, slightly below the national median of 0.99% and significantly lower than Missouri's state median of 1.20%. With a median home value of $39,654 in Morrisville, the typical annual property tax bill is $362, which is far less than the national median of $2,690. Property taxes in Morrisville are determined based on the tax assessed value, which is often lower than the market value due to various exemptions such as primary residence and agricultural exemptions. By understanding Morrisville's property tax system and exploring available exemptions, homeowners and real estate investors can uncover opportunities for significant annual savings. Whether residing in the heart of Morrisville or its surrounding areas, gaining insights into the local property tax structure is advantageous for anyone looking to minimize their tax burden.
Last Updated June 14, 2024
Morrisville, Missouri Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.96%
Estimate Property Tax Bill
$381
Ownwell’s Morrisville Property Tax Bill Calculator empowers homeowners, real estate investors, and potential buyers to estimate their annual property taxes in Morrisville with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Morrisville to provide an estimate of your property tax bill. This valuable tool helps you understand potential tax liabilities. For those interested in neighborhood-level trends, scroll down to find more localized information. Your property’s assessed value is the value assigned by the county for property tax calculations, taking into account any applicable exemptions.
Property Tax Rates Across Morrisville, Missouri
Property taxes in Morrisville, Missouri, are essential in funding crucial local services such as public schools, road maintenance, and emergency services. The median tax rate in Morrisville is 0.96%, which is slightly lower than the U.S. national median of 0.99%. Local government entities within Morrisville set these rates annually, and they can vary significantly across different neighborhoods. Each year, Morrisville 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 Morrisville's effective property tax rate to other areas in Polk County and the national median. For comparison, the 65710 zip code has the highest median property tax rate of 0.96%, while the 65645 zip code has the lowest median tax rate of 0.93%. Understanding how these areas compare with Morrisville provides valuable insights into the varying tax landscape across Polk County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Morrisville Tax Rate
0.96%
Average Polk County Tax Rate
0.91%
Average Missouri Tax Rate
1.20%
Average United States Tax Rate
0.99%
Property Tax Rates Across Morrisville, Missouri
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 65645 | 0.38% | 0.70% | 0.93% | 0.96% | 1.00% |
| 65710 | 0.74% | 0.86% | 0.96% | 1.04% | 1.04% |
Source: Ownwell
Property Tax Assessment Values Across Morrisville, Missouri
In Morrisville, 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 Polk 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 Morrisville, 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 example, the highest median tax bill in the area is $367 in the 65710 zip code, while the lowest is $291 in the 65645 zip code. Being aware of these valuation processes in Morrisville helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Morrisville Assessed Value
$39,654
Average Polk County Assessed Value
$49,465
Average Missouri Assessed Value
$129,505
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Morrisville, Missouri
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 65645 | $30,821 | $36,316 | $96,421 | $99,526 | $104,459 |
| 65710 | $9,500 | $20,936 | $39,030 | $70,373 | $117,684 |
Source: Ownwell
Property Tax Bills Across Morrisville, Missouri
Property tax bills in Morrisville, located in Polk County, MO, are calculated based on the assessed value of the property. The assessed value is determined by the local assessor's office, which evaluates the property's market value and applies an assessment ratio. In Missouri, residential properties are typically assessed at 19% of their market value. For instance, a home with a median market price of $39,654 would have an assessed value of approximately $7,534. Once the assessed value is established, the local tax rate is applied. In Polk County, property tax rates can vary, but they are generally close to the national median property tax rate of 0.99%. The tax bill can fluctuate significantly depending on the property's value and the specific tax rate in the area. For example, homeowners in Morrisville might see tax bills ranging from $202 at the 25th percentile to $1,097 at the 90th percentile. These property taxes fund essential local services such as schools, public safety, and infrastructure, directly impacting the community's quality of life.
Average Morrisville Tax Bill
$362
Average Polk County Tax Bill
$421
Average Missouri Tax Bill
$1,606
Average United States Tax Bill
$2,690
Property Tax Bills Across Morrisville, Missouri
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 65645 | $199 | $269 | $291 | $339 | $677 |
| 65710 | $93 | $194 | $367 | $664 | $1,099 |
Source: Ownwell