Hunnewell, Missouri Property Taxes
The median property tax rate in Hunnewell, MO is 1.16%, slightly above the national median of 0.99% but below the Missouri state median of 1.20%. With a median home value of $25,900 in Hunnewell, the typical annual property tax bill amounts to $357, which is significantly lower than the national median of $2,690. Property taxes in Hunnewell are calculated based on the tax assessed value, which often falls below the market value due to exemptions such as primary residence and agricultural exemptions. Understanding Hunnewell'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 Hunnewell 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
Hunnewell, 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 HUNNEWELL Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in HUNNEWELL with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in HUNNEWELL 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 Hunnewell, Missouri
Property taxes in Hunnewell, Missouri, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Hunnewell is 1.16%, which is significantly higher than the U.S. national median of 0.99%. Local government entities within Hunnewell set these rates annually, and they can vary significantly across different neighborhoods. Each year, Hunnewell 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 Hunnewell's effective property tax rate to other areas in Shelby County and the national median. For comparison, the highest and lowest median property tax rates in Shelby County are both 1.16%, found in the zip code 63443. Understanding how these areas compare with Hunnewell provides valuable insights into the varying tax landscape across Shelby County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Hunnewell Tax Rate
1.16%
Average Shelby County Tax Rate
0.87%
Average Missouri Tax Rate
1.20%
Average United States Tax Rate
0.99%
Property Tax Rates Across Hunnewell, Missouri
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 63443 | 0.75% | 0.87% | 1.16% | 1.38% | 1.38% |
Source: Ownwell
Property Tax Assessment Values Across Hunnewell, Missouri
In Hunnewell, 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 Shelby 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 Hunnewell, 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 Hunnewell helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The zip code 63443 has both the highest and lowest median tax bill, standing at $357.
Average Hunnewell Assessed Value
$25,900
Average Shelby County Assessed Value
$56,500
Average Missouri Assessed Value
$129,505
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Hunnewell, Missouri
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 63443 | $5,560 | $10,550 | $25,900 | $72,050 | $115,120 |
Source: Ownwell
Property Tax Bills Across Hunnewell, Missouri
In Hunnewell, MO, property tax bills are calculated based on the assessed value of a home, which is a percentage of its market value. The median home price in Hunnewell is $25,900. Local tax authorities determine the assessed value, and then apply the local tax rate to calculate the tax bill. Factors such as property location, home improvements, and neighborhood amenities can influence the assessed value. Homeowners in Hunnewell can expect property tax bills to vary significantly. The 25th percentile tax bill is around $149, while the 75th percentile reaches $676. At the higher end, the 90th percentile tax bill is approximately $1,315. The highest and lowest median tax bills are both $357, indicating a consistent median rate within the 63443 zip code. Compared to the national median property tax rate of 0.99%, Hunnewell's property taxes can be relatively low, offering homeowners a more affordable living situation. However, the variation in tax bills means that individual circumstances can significantly impact the overall cost.
Average Hunnewell Tax Bill
$357
Average Shelby County Tax Bill
$514
Average Missouri Tax Bill
$1,606
Average United States Tax Bill
$2,690
Property Tax Bills Across Hunnewell, Missouri
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 63443 | $70 | $149 | $357 | $676 | $1,315 |
Source: Ownwell