Parnell, Missouri Property Taxes
The median property tax rate in Parnell, MO is 1.38%, considerably higher than both the national median of 0.99% and the Missouri state median of 1.20%. With the median home value in Parnell, the typical annual property tax bill reaches $1,267, which is below the national median of $2,690. Property taxes in Parnell are calculated based on the tax assessed value, which typically falls below the market value due to various exemptions like the primary residence and agricultural exemptions. Understanding Parnell'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 Parnell 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
Parnell, Missouri Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.38%
Estimate Property Tax Bill
$1,476
Ownwell’s Parnell Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Parnell with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Parnell 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 Parnell, Missouri
Property taxes in Parnell, Missouri, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Parnell is 1.38%, significantly higher than the U.S. national median of 0.99%. Local government entities within Parnell set these rates annually, and they can vary significantly across different neighborhoods. Each year, Parnell 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 Parnell's effective property tax rate to other counties in Missouri and the national median. For comparison, the zip code 64475 has the highest median property tax rate of 1.38%, while the same zip code also has the lowest median tax rate of 1.38%. Understanding how these cities compare with Parnell provides valuable insights into the varying tax landscape across Worth County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Parnell Tax Rate
1.38%
Average Worth County Tax Rate
1.26%
Average Missouri Tax Rate
1.20%
Average United States Tax Rate
0.99%
Property Tax Rates Across Parnell, Missouri
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 64475 | 1.10% | 1.19% | 1.38% | 1.46% | 1.58% |
Source: Ownwell
Property Tax Assessment Values Across Parnell, Missouri
In Parnell, 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 Worth 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 Parnell, 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 Parnell helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. Notably, the zip code 64475 has both the highest and lowest median tax bill at $1,267.
Average Parnell Assessed Value
$106,922
Average Worth County Assessed Value
$27,782
Average Missouri Assessed Value
$129,505
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Parnell, Missouri
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 64475 | $45,600 | $61,672 | $106,922 | $163,469 | $201,343 |
Source: Ownwell
Property Tax Bills Across Parnell, Missouri
In Parnell, located in Worth County, MO, property tax bills are calculated based on the assessed value of a home and the local tax rate. The assessed value is typically a percentage of the property's market value, which is determined by the county assessor. For example, if the median home price in Parnell is $106,922, the assessed value would be a fraction of this amount. The tax rate is then applied to the assessed value to determine the annual tax bill. Factors such as property location, improvements, and exemptions can influence the final bill. Homeowners in Parnell can expect tax bills that vary significantly, with the 25th percentile at $818 and the 75th percentile at $1,936. For those at the 90th percentile, tax bills can reach up to $2,618. These property taxes fund essential community services like schools, emergency services, and infrastructure, directly impacting the quality of life for Parnell residents. Comparing this to the national median property tax rate of 0.99%, Parnell homeowners experience a range of tax bills reflective of local property values and tax policies.
Average Parnell Tax Bill
$1,267
Average Worth County Tax Bill
$356
Average Missouri Tax Bill
$1,606
Average United States Tax Bill
$2,690
Property Tax Bills Across Parnell, Missouri
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 64475 | $725 | $818 | $1,267 | $1,936 | $2,618 |
Source: Ownwell