Mora, Missouri Property Taxes
The median property tax rate in Mora, MO is 1.00%, slightly higher than the national median of 0.99% but lower than the Missouri state median of 1.20%. With a median home value in Mora of $70,710, the typical annual property tax bill amounts to $707, which is significantly below the national median of $2,690. Property taxes in Mora are calculated based on the tax assessed value, which often is lower than the market value due to exemptions like primary residence and agricultural exemptions. Understanding Mora'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 Mora or another part of Benton County, grasping the local property tax system can benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Mora, Missouri Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1%
Estimate Property Tax Bill
$707
Ownwell’s Mora Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Mora with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Mora 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 Mora, Missouri
Property taxes in Mora, Missouri, are essential for funding crucial local services such as public schools, road maintenance, and emergency services. The median tax rate in Mora is 1.00%, which is higher than both the Missouri state median and the U.S. national median of 0.99%. Local government entities within Mora set these rates annually, and they can vary significantly across different neighborhoods. Each year, Mora 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 Mora's effective property tax rate to other counties in Missouri and the national median. For comparison, the 65345 zip code has the highest median property tax rate of 1.00%, while the 65345 zip code also has the lowest median tax rate of 1.00%. Understanding how these cities compare with Mora provides valuable insights into the varying tax landscape across Benton County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Mora Tax Rate
1.00%
Average Benton County Tax Rate
0.98%
Average Missouri Tax Rate
1.20%
Average United States Tax Rate
0.99%
Property Tax Rates Across Mora, Missouri
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 65345 | 0.98% | 1.00% | 1.00% | 1.00% | 1.00% |
Source: Ownwell
Property Tax Assessment Values Across Mora, Missouri
In Mora, 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 Benton 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 Mora, 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 Mora helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The median home price in Mora is $70,710, with the 25th percentile tax bill at $433 and the 75th percentile tax bill at $1,306. The highest and lowest median tax bill in the area is $707, both found in zip code 65345.
Average Mora Assessed Value
$70,710
Average Benton County Assessed Value
$50,947
Average Missouri Assessed Value
$129,505
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Mora, Missouri
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 65345 | $21,800 | $43,592 | $70,710 | $130,619 | $166,179 |
Source: Ownwell
Property Tax Bills Across Mora, Missouri
In MORA, located in Benton County, MO, property tax bills are calculated based on the assessed value of the home, which is a percentage of its market value. The median home price in this area is $70,710. Homeowners can expect their property tax bills to vary widely depending on the specific assessed value of their property. For example, the tax bill at the 25th percentile is $433, while at the 75th percentile, it rises to $1,306. At the 90th percentile, homeowners may see tax bills as high as $1,661. These figures are influenced by several factors, including property size, location, and any applicable exemptions. The highest and lowest median tax bills in the region both stand at $707, which is significantly lower than the national median property tax rate of 0.99%. This relatively low rate can make homeownership in MORA more affordable compared to other regions, but it also means that homeowners need to be mindful of how changes in property assessments could affect their annual tax obligations.
Average Mora Tax Bill
$707
Average Benton County Tax Bill
$492
Average Missouri Tax Bill
$1,606
Average United States Tax Bill
$2,690
Property Tax Bills Across Mora, Missouri
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 65345 | $212 | $433 | $707 | $1,306 | $1,661 |
Source: Ownwell