Higbee, Missouri Property Taxes
The median property tax rate in Higbee, MO is 1.21%, slightly higher than both the national median of 0.99% and Missouri's state median of 1.20%. With a median home value of $73,242 in Higbee, the typical annual property tax bill reaches $828, which is below the national median of $2,690. Property taxes in Higbee are calculated based on the tax assessed value, often lower than the market value due to exemptions like primary residence and agricultural exemptions. Understanding Higbee'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 Higbee or another part of Howard County, comprehending the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Higbee, Missouri Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.21%
Estimate Property Tax Bill
$886
Ownwell’s Higbee Property Tax Bill Calculator is a valuable tool for homeowners, real estate investors, and potential buyers to estimate their annual property taxes in Higbee. By simply inputting your property's estimated assessed value, the calculator uses the median tax rate in Higbee to provide an estimated property tax bill. This tool offers a clear understanding of potential tax liabilities, helping you plan better. For those interested in more detailed insights, localized neighborhood trends are available by scrolling down. Your property’s assessed value is determined by the county for property tax purposes, considering any applicable exemptions.
Property Tax Rates Across Higbee, Missouri
Property taxes in Higbee, Missouri, are essential for funding critical local services such as public schools, road maintenance, and emergency services. The median tax rate in Higbee is 0.87%, lower than the Missouri state median of 0.97% and the U.S. national median of 0.99%. Local government entities within Higbee set these rates annually, and they can vary significantly across different neighborhoods. Each year, Higbee 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 Higbee's effective property tax rate to other counties in Missouri and the national median. For comparison, the 65257 zip code has the highest median property tax rate of 1.21%, while the same zip code also has the lowest median tax rate of 1.21%. Understanding how these cities compare with Higbee provides valuable insights into the varying tax landscape across Howard County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Higbee Tax Rate
1.21%
Average Howard County Tax Rate
1.31%
Average Missouri Tax Rate
1.20%
Average United States Tax Rate
0.99%
Property Tax Rates Across Higbee, Missouri
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 65257 | 0.98% | 1.08% | 1.21% | 1.31% | 1.37% |
Source: Ownwell
Property Tax Assessment Values Across Higbee, Missouri
In Higbee, 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 Howard 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 Higbee, 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. The highest median tax bill in Higbee is $828 in zip code 65257. By being aware of these valuation processes, property owners can identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Higbee Assessed Value
$73,242
Average Howard County Assessed Value
$68,234
Average Missouri Assessed Value
$129,505
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Higbee, Missouri
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 65257 | $17,714 | $28,035 | $73,242 | $123,621 | $177,194 |
Source: Ownwell
Property Tax Bills Across Higbee, Missouri
In Higbee, located in Howard County, MO, property tax bills are calculated based on the assessed value of a property, which is typically a percentage of its market value. The tax rate is then applied to this assessed value to determine the annual tax bill. Various factors influence the final tax amount, including property location, size, and any applicable exemptions or deductions. The median home price in Higbee is $73,242, and property taxes can vary significantly within the area. For instance, the 25th percentile tax bill is around $324, while the 75th percentile reaches $1,433, and the 90th percentile can be as high as $2,250. Compared to the national median property tax rate of 0.99%, Higbee's property taxes can be seen as relatively moderate, yet they still represent a significant expense for homeowners. Understanding these factors can help homeowners in Higbee better manage their property tax obligations and potentially seek out exemptions or appeals to reduce their tax burden.
Average Higbee Tax Bill
$828
Average Howard County Tax Bill
$882
Average Missouri Tax Bill
$1,606
Average United States Tax Bill
$2,690
Property Tax Bills Across Higbee, Missouri
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 65257 | $190 | $324 | $828 | $1,433 | $2,250 |
Source: Ownwell