Carthage, Missouri Property Taxes
The median property tax rate in Carthage, MO is 0.95%, slightly below both the national median of 0.99% and the Missouri state median of 1.20%. With the median home value in Carthage at $80,955, the typical annual property tax bill is about $733, which is significantly lower than the national median of $2,690. Property taxes in Carthage are calculated based on the tax assessed value, often lower than the market value due to exemptions like primary residence and agricultural exemptions. Understanding Carthage'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 Carthage or another part of Jasper County, understanding the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Carthage, 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 Carthage Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Carthage with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Carthage 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 Carthage, Missouri
Property taxes in Carthage, Missouri, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Carthage is 0.95%, slightly below the U.S. national median of 0.99%. Local government entities within Carthage set these rates annually, and they can vary significantly across different neighborhoods. Each year, Carthage 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 Carthage's effective property tax rate to other counties in Missouri and the national median. For comparison, the 64836 zip code has the highest median property tax rate of 0.95%, while the same 64836 zip code also has the lowest median tax rate of 0.95%. Understanding how these cities compare with Carthage provides valuable insights into the varying tax landscape across Jasper County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Carthage Tax Rate
0.95%
Average Jasper County Tax Rate
0.89%
Average Missouri Tax Rate
1.20%
Average United States Tax Rate
0.99%
Property Tax Rates Across Carthage, Missouri
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 64836 | 0.84% | 0.89% | 0.95% | 0.96% | 0.99% |
Source: Ownwell
Property Tax Assessment Values Across Carthage, Missouri
In Carthage, 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 Jasper 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 Carthage, 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 Carthage helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The median tax bill in Carthage is $733, with the zip code 64836 reflecting both the highest and lowest median tax bills.
Average Carthage Assessed Value
$80,955
Average Jasper County Assessed Value
$82,940
Average Missouri Assessed Value
$129,505
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Carthage, Missouri
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 64836 | $31,190 | $50,235 | $80,955 | $130,605 | $194,693 |
Source: Ownwell
Property Tax Bills Across Carthage, Missouri
In Carthage, located in Jasper 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 market value of the property. For example, if the median home price in Carthage is $80,955, the assessed value would be a fraction of this amount. Various factors influence the tax bill, including property size, location, and improvements made to the property. The local tax rate is then applied to the assessed value to calculate the final tax bill. In Carthage, homeowners can expect tax bills ranging from $460 at the 25th percentile to $1,191 at the 75th percentile, with the 90th percentile reaching up to $1,778. Compared to the national median property tax rate of 0.99%, Carthage's property taxes are relatively moderate, making it an attractive location for homeowners seeking affordability.
Average Carthage Tax Bill
$733
Average Jasper County Tax Bill
$737
Average Missouri Tax Bill
$1,606
Average United States Tax Bill
$2,690
Property Tax Bills Across Carthage, Missouri
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 64836 | $276 | $460 | $733 | $1,191 | $1,778 |
Source: Ownwell