Crane, Missouri Property Taxes
The median property tax rate in Crane, MO is 0.91%, which is lower than both the national median of 0.99% and the Missouri state median of 1.20%. With the median home value in Crane at $44,170, the typical annual property tax bill amounts to $403, significantly below the national median of $2,690. Property taxes in Crane are calculated based on the assessed value, which usually falls below the market value due to various exemptions like the primary residence and agricultural exemptions. Understanding Crane's property tax system, exploring available exemptions, and identifying opportunities for reductions can lead to substantial annual savings. Whether you're in the heart of Crane 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
Crane, Missouri Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.91%
Estimate Property Tax Bill
$402
Ownwell’s Crane Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Crane with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Crane 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 Crane, Missouri
Property taxes in Crane, Missouri, are vital in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Crane is 0.91%, which is lower than the U.S. national median of 0.99%. Local government entities within Crane set these rates annually, and they can vary significantly across different neighborhoods. Each year, Crane 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 Crane's effective property tax rate to other counties in Missouri and the national median. For comparison, the 65633 zip code has both the highest and lowest median property tax rate of 0.91%. Understanding how these areas compare with Crane provides valuable insights into the varying tax landscape across Stone County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Crane Tax Rate
0.91%
Average Stone County Tax Rate
0.93%
Average Missouri Tax Rate
1.20%
Average United States Tax Rate
0.99%
Property Tax Rates Across Crane, Missouri
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 65633 | 0.89% | 0.90% | 0.91% | 0.99% | 1.03% |
Source: Ownwell
Property Tax Assessment Values Across Crane, Missouri
In Crane, 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 Stone 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 Crane, 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 Crane is $44,170, with tax bills ranging from $184 at the 25th percentile to $1,353 at the 90th percentile. The zip code 65633 has both the highest and lowest median tax bill at $403. Being aware of these valuation processes in Crane helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Crane Assessed Value
$44,170
Average Stone County Assessed Value
$50,150
Average Missouri Assessed Value
$129,505
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Crane, Missouri
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 65633 | $10,400 | $19,700 | $44,170 | $86,150 | $142,373 |
Source: Ownwell
Property Tax Bills Across Crane, Missouri
In Crane, located in Stone County, 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 Crane stands at $44,170. Homeowners in Crane experience varying property tax bills, with the 25th percentile paying around $184 and the 75th percentile facing bills up to $813. The 90th percentile sees property tax bills as high as $1,353, which can significantly impact household budgets. The determining factors for these tax bills include the assessed value of the property and the local tax rate set by the county. Crane's property tax rate is influenced by local government budgets, school funding needs, and public services. Compared to the national median property tax rate of 0.99%, Crane's rates can be relatively moderate, but the actual tax burden on homeowners can vary widely. Understanding these factors helps homeowners anticipate their annual tax obligations and plan their finances accordingly.
Average Crane Tax Bill
$403
Average Stone County Tax Bill
$460
Average Missouri Tax Bill
$1,606
Average United States Tax Bill
$2,690
Property Tax Bills Across Crane, Missouri
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 65633 | $95 | $184 | $403 | $813 | $1,353 |
Source: Ownwell