Hornersville, Missouri Property Taxes
The median property tax rate in Hornersville, MO is 0.78%, which is notably lower than both the national median of 0.99% and the Missouri state median of 1.20%. With the median home value in Hornersville at $28,110, the typical annual property tax bill is $223, significantly below the national median of $2,690. Property taxes in Hornersville are calculated based on the tax assessed value, which is often lower than the market value due to various exemptions, such as those for primary residences and agricultural properties. Understanding Hornersville'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 Hornersville or another part of Dunklin County, comprehending the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Hornersville, 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 Hornersville Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Hornersville with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Hornersville 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 Hornersville, Missouri
Property taxes in Hornersville, Missouri, are crucial for funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Hornersville is 0.78%, which is lower than the U.S. national median of 0.99%. Local government entities within Hornersville set these rates annually, and they can vary significantly across different neighborhoods. Each year, Hornersville 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 Hornersville's effective property tax rate to other areas in Dunklin County and the national median. For comparison, the zip code 63855 has the highest median property tax rate of 0.78%, while the same zip code also has the lowest median tax rate of 0.78%. Understanding how these areas compare with Hornersville provides valuable insights into the varying tax landscape across Dunklin County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Hornersville Tax Rate
0.78%
Average Dunklin County Tax Rate
0.91%
Average Missouri Tax Rate
1.20%
Average United States Tax Rate
0.99%
Property Tax Rates Across Hornersville, Missouri
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 63855 | 0.72% | 0.77% | 0.78% | 0.85% | 0.94% |
Source: Ownwell
Property Tax Assessment Values Across Hornersville, Missouri
Understanding the difference between "market value" and "assessed value" is crucial for comprehending property taxes in Hornersville, Missouri. 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 Dunklin 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 Hornersville, 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. For example, the median home price in Hornersville is $28,110, with tax bills ranging from $87 at the 25th percentile to $793 at the 90th percentile. The zip code 63855 has the highest and lowest median tax bill, both at $223. Being aware of these valuation processes helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Hornersville Assessed Value
$28,110
Average Dunklin County Assessed Value
$33,875
Average Missouri Assessed Value
$129,505
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Hornersville, Missouri
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 63855 | $2,412 | $9,115 | $28,110 | $63,020 | $101,630 |
Source: Ownwell
Property Tax Bills Across Hornersville, Missouri
Property tax bills in Hornersville, located in Dunklin County, MO, are determined by assessing the market value of a property and applying the local tax rate. The assessed value is typically a percentage of the market value, which is then multiplied by the tax rate to calculate the annual tax bill. Various factors influence this process, including property size, location, and any improvements made to the property. For homeowners in Hornersville, the financial impact can vary significantly. The 25th percentile tax bill is around $87, while the 75th percentile reaches $492, and at the 90th percentile, it can be as high as $793. The highest and lowest median tax bills in the area are both $223, reflecting a relatively consistent tax rate within the zip code 63855. Compared to the national median property tax rate of 0.99%, Hornersville's tax rates offer a more affordable option for homeowners, potentially making it an attractive location for those looking to minimize their property tax burden.
Average Hornersville Tax Bill
$223
Average Dunklin County Tax Bill
$320
Average Missouri Tax Bill
$1,606
Average United States Tax Bill
$2,690
Property Tax Bills Across Hornersville, Missouri
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 63855 | $22 | $87 | $223 | $492 | $793 |
Source: Ownwell