Nevada, Missouri Property Taxes
The median property tax rate in Nevada, MO is 1.14%, slightly higher than the national median of 0.99% but lower than the Missouri state median of 1.20%. With the median home value in Nevada at $60,725, the typical annual property tax bill comes to $657, which is significantly below the national median of $2,690. Property taxes in Nevada are calculated based on the assessed value, often reduced by exemptions such as those for primary residences and agricultural properties. Understanding Nevada'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 Nevada or another part of Vernon County, understanding the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Nevada, 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 Nevada Property Tax Bill Calculator is a valuable tool for homeowners, real estate investors, and potential buyers to estimate their annual property taxes in Nevada, MO, with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Nevada 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 Vernon County for property tax calculations, accounting for any exemptions that may apply.
Property Tax Rates Across Nevada, Missouri
Property taxes in Nevada, Missouri, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Nevada is 1.14%, which is higher than both the Missouri state median and the U.S. national median of 0.99%. Local government entities within Nevada set these rates annually, and they can vary significantly across different neighborhoods. Each year, Nevada 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 Nevada's effective property tax rate to other counties in Missouri and the national median. For comparison, the 64772 zip code has both the highest and lowest median property tax rate of 1.14%. Understanding how these cities compare with Nevada provides valuable insights into the varying tax landscape across Vernon County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Nevada Tax Rate
1.14%
Average Vernon County Tax Rate
1.01%
Average Missouri Tax Rate
1.20%
Average United States Tax Rate
0.99%
Property Tax Rates Across Nevada, Missouri
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 64772 | 0.87% | 0.98% | 1.14% | 1.15% | 1.20% |
Source: Ownwell
Property Tax Assessment Values Across Nevada, Missouri
In Nevada, 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 Vernon 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 Nevada, 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 Nevada helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The zip code with the highest median tax bill is 64772, amounting to $657.00, which is significantly lower than the national median property tax rate of 0.99%.
Average Nevada Assessed Value
$60,725
Average Vernon County Assessed Value
$51,890
Average Missouri Assessed Value
$129,505
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Nevada, Missouri
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 64772 | $12,060 | $30,832 | $60,725 | $104,725 | $167,515 |
Source: Ownwell
Property Tax Bills Across Nevada, Missouri
In Nevada, MO, property tax bills are calculated based on the assessed value of a home, which is derived from its market value. The median home price in Nevada is $60,725. The local tax rate is applied to this assessed value to determine the annual tax bill. Factors such as property size, location, and improvements can influence the assessed value. Homeowners in Nevada, MO, see a range of property tax bills. At the 25th percentile, the tax bill is $342, while at the 75th percentile, it rises to $1,121. The 90th percentile tax bill reaches $1,719. The highest and lowest median tax bills in the area are both $657, indicating a relatively consistent tax environment across different properties. Compared to the national median property tax rate of 0.99%, Nevada, MO, offers a more affordable property tax scenario for homeowners. Understanding these factors helps homeowners anticipate their financial responsibilities and plan accordingly.
Average Nevada Tax Bill
$657
Average Vernon County Tax Bill
$536
Average Missouri Tax Bill
$1,606
Average United States Tax Bill
$2,690
Property Tax Bills Across Nevada, Missouri
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 64772 | $126 | $342 | $657 | $1,121 | $1,719 |
Source: Ownwell