Mc Fall, Missouri Property Taxes
The median property tax rate in Mc Fall, MO is 1.19%, slightly higher than the national median of 0.99% but just below Missouri's state median of 1.20%. With a median home value of $53,520 in Mc Fall, the typical annual property tax bill amounts to $709, which is significantly lower than the national median of $2,690. Property taxes in Mc Fall 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 Mc Fall'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 Mc Fall or another part of the city, gaining insight into the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Mc Fall, 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 MC FALL Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in MC FALL with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in MC FALL 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 Mc Fall, Missouri
Property taxes in Mc Fall, Missouri, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Mc Fall is 0.87%, lower than both the Missouri state median of 0.97% and the U.S. national median of 0.99%. Local government entities within Mc Fall set these rates annually, and they can vary significantly across different neighborhoods. Each year, Mc Fall 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 Mc Fall's effective property tax rate to other counties in Missouri and the national median. For comparison, the 64657 zip code has the highest median property tax rate of 0.87%, while the same zip code has the lowest median tax rate of 0.87%. Understanding how these cities compare with Mc Fall provides valuable insights into the varying tax landscape across Harrison County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Mc Fall Tax Rate
1.19%
Average Harrison County Tax Rate
1.31%
Average Missouri Tax Rate
1.20%
Average United States Tax Rate
0.99%
Property Tax Rates Across Mc Fall, Missouri
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 64657 | 0.93% | 1.07% | 1.19% | 1.28% | 1.32% |
Source: Ownwell
Property Tax Assessment Values Across Mc Fall, Missouri
In Mc Fall, 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 Harrison County Assessor's office 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 Mc Fall, 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 Mc Fall helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The zip code 64657 has the highest median tax bill at $709.00, while also having the lowest median tax bill at $709.00.
Average Mc Fall Assessed Value
$53,520
Average Harrison County Assessed Value
$35,200
Average Missouri Assessed Value
$129,505
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Mc Fall, Missouri
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 64657 | $26,460 | $35,968 | $53,520 | $108,428 | $195,970 |
Source: Ownwell
Property Tax Bills Across Mc Fall, Missouri
In Mc Fall, property tax bills are calculated based on the assessed value of a home, which is determined by local tax assessors. The assessed value is a percentage of the market value of the property. Factors such as the property's location, size, and condition play a significant role in determining its assessed value. Once the assessed value is established, the local tax rate is applied to calculate the tax bill. In Harrison County, where Mc Fall is located, the median home price is $53,520. Homeowners in Mc Fall can expect tax bills to vary widely. At the 25th percentile, the tax bill is around $450, while at the 75th percentile, it rises to $1,292. For those at the 90th percentile, the tax bill can be as high as $2,360. The highest median tax bill in the region is $709, which is consistent across the zip code 64657. These property taxes can significantly impact homeowners, influencing their overall housing costs and financial planning.
Average Mc Fall Tax Bill
$709
Average Harrison County Tax Bill
$480
Average Missouri Tax Bill
$1,606
Average United States Tax Bill
$2,690
Property Tax Bills Across Mc Fall, Missouri
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 64657 | $346 | $450 | $709 | $1,292 | $2,360 |
Source: Ownwell