Hallsville, Missouri Property Taxes
The median property tax rate in Hallsville, MO is 1.22%, which is higher than both the national median of 0.99% and the Missouri state median of 1.20%. With a median home value of $136,395 in Hallsville, the typical annual property tax bill amounts to $1,853, which is below the national median of $2,690. Property taxes in Hallsville are calculated based on the assessed value, which often falls below the market value due to exemptions such as primary residence and agricultural exemptions. Understanding Hallsville'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 Hallsville 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
Hallsville, Missouri Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.22%
Estimate Property Tax Bill
$1,664
Ownwell’s Hallsville Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Hallsville with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Hallsville 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 Hallsville, Missouri
Property taxes in Hallsville, Missouri, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Hallsville is 0.84%, lower than both the Missouri state median of 0.93% and the U.S. national median of 0.99%. Local government entities within Hallsville set these rates annually, and they can vary significantly across different neighborhoods. Each year, Hallsville 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 Hallsville's effective property tax rate to other counties in Missouri and the national median. For comparison, the 65255 zip code has the highest median property tax rate of 0.84%, while the 65255 zip code also has the lowest median tax rate of 0.84%. Understanding how these cities compare with Hallsville provides valuable insights into the varying tax landscape across Boone County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Hallsville Tax Rate
1.22%
Average Boone County Tax Rate
1.27%
Average Missouri Tax Rate
1.20%
Average United States Tax Rate
0.99%
Property Tax Rates Across Hallsville, Missouri
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 65255 | 1.15% | 1.20% | 1.22% | 1.32% | 1.32% |
Source: Ownwell
Property Tax Assessment Values Across Hallsville, Missouri
In Hallsville, 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 Boone 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 Hallsville, 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 Hallsville helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The highest median tax bill in the area is $1,853 in zip code 65255, while the lowest median tax bill is also $1,853 in the same zip code.
Average Hallsville Assessed Value
$136,395
Average Boone County Assessed Value
$153,300
Average Missouri Assessed Value
$129,505
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Hallsville, Missouri
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 65255 | $21,029 | $71,550 | $136,395 | $204,765 | $266,764 |
Source: Ownwell
Property Tax Bills Across Hallsville, Missouri
In Hallsville, located in Boone County, MO, property tax bills are determined by assessing the market value of a home and applying the local tax rate. The median home price in Hallsville is $136,395. Property taxes are then calculated based on this assessed value and the specific tax rate set by local authorities. Factors such as property improvements, location, and market trends can influence the assessed value, impacting the final tax bill. For homeowners in Hallsville, property tax bills can vary significantly. For instance, the 25th percentile tax bill is around $1,147, while the 75th percentile tax bill is approximately $2,653. At the higher end, the 90th percentile tax bill reaches up to $3,456. These variations can affect homeowners differently, depending on their property's assessed value and any applicable exemptions. Compared to the national median property tax rate of 0.99%, Hallsville's property tax rates reflect the local economic conditions and funding needs for public services, directly influencing the financial responsibilities of its residents.
Average Hallsville Tax Bill
$1,853
Average Boone County Tax Bill
$2,051
Average Missouri Tax Bill
$1,606
Average United States Tax Bill
$2,690
Property Tax Bills Across Hallsville, Missouri
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 65255 | $659 | $1,147 | $1,853 | $2,653 | $3,456 |
Source: Ownwell