New Hampton, Missouri Property Taxes
The median property tax rate in New Hampton, MO is 1.23%, which is notably higher than both the national median of 0.99% and Missouri's state median of 1.20%. With a median home value of $88,950 in New Hampton, the typical annual property tax bill amounts to $1,098, surpassing the national median of $2,690. Property taxes in New Hampton are calculated based on the tax assessed value, which often falls below the market value due to various exemptions, including those for primary residences and agricultural properties. Understanding New Hampton'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 New Hampton or another part of Gentry County, understanding the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
New Hampton, Missouri Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.23%
Estimate Property Tax Bill
$1,094
Ownwell’s New Hampton Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in New Hampton with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in New Hampton 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 New Hampton, Missouri
Property taxes in New Hampton, Missouri, are crucial for funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in New Hampton is 1.23%, higher than both the Missouri state median and the U.S. national median of 0.99%. Local government entities within New Hampton set these rates annually, and they can vary significantly across different neighborhoods. Each year, New Hampton 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 New Hampton's effective property tax rate to other counties in Missouri and the national median. For comparison, the 64471 zip code has the highest median property tax rate of 1.23%, while the same zip code also has the lowest median tax rate of 1.23%. Understanding how these cities compare with New Hampton provides valuable insights into the varying tax landscape across Gentry County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average New Hampton Tax Rate
1.23%
Average Gentry County Tax Rate
1.36%
Average Missouri Tax Rate
1.20%
Average United States Tax Rate
0.99%
Property Tax Rates Across New Hampton, Missouri
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 64471 | 0.97% | 1.13% | 1.23% | 1.35% | 1.36% |
Source: Ownwell
Property Tax Assessment Values Across New Hampton, Missouri
In New Hampton, 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 Gentry 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 New Hampton, 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. For New Hampton, the median home price is $88,950, with the 25th percentile tax bill at $596 and the 75th percentile tax bill at $1,837. 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 New Hampton helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average New Hampton Assessed Value
$88,950
Average Gentry County Assessed Value
$52,950
Average Missouri Assessed Value
$129,505
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across New Hampton, Missouri
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 64471 | $38,017 | $57,400 | $88,950 | $143,410 | $221,852 |
Source: Ownwell
Property Tax Bills Across New Hampton, Missouri
In New Hampton, located in Gentry County, MO, property tax bills are calculated based on the assessed value of a home, which is determined by the local assessor's office. The assessed value is a percentage of the property's market value, and this figure is then multiplied by the local tax rate to determine the annual tax bill. For example, with a median home price of $88,950, homeowners can expect varying tax bills depending on their property's assessed value and the applicable tax rate. Factors that influence the tax bill include the property's location within the county, any applicable exemptions, and the specific tax rate set by local authorities. Homeowners in New Hampton might find their tax bills range significantly, with the 25th percentile at $596 and the 75th percentile reaching $1,837. The highest median tax bill in the area is recorded at $1,098. These property taxes are essential for funding local services such as schools, infrastructure, and emergency services, directly impacting the quality of life for residents.
Average New Hampton Tax Bill
$1,098
Average Gentry County Tax Bill
$746
Average Missouri Tax Bill
$1,606
Average United States Tax Bill
$2,690
Property Tax Bills Across New Hampton, Missouri
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 64471 | $358 | $596 | $1,098 | $1,837 | $3,099 |
Source: Ownwell