Neck City, Missouri Property Taxes
The median property tax rate in Neck City, MO is 0.96%, slightly lower than the national median of 0.99% and significantly below the Missouri state median of 1.20%. With a median home value of $41,370 in Neck City, the typical annual property tax bill amounts to $365, which is well below the national median of $2,690. Property taxes in Neck City are calculated based on the tax assessed value, which often falls below the market value due to various exemptions such as primary residence and agricultural exemptions. Understanding Neck City'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 Neck City or another part of the city, understanding the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Neck City, Missouri Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.96%
Estimate Property Tax Bill
$397
Ownwell’s Neck City Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Neck City with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Neck City 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 Jasper County for property tax calculations, accounting for any exemptions that may apply.
Property Tax Rates Across Neck City, Missouri
Property taxes in Neck City, Missouri, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Neck City is 0.96%, slightly lower than the U.S. national median of 0.99%. Local government entities within Neck City set these rates annually, and they can vary significantly across different neighborhoods. Each year, Neck City 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 Neck City's effective property tax rate to other counties in Missouri and the national median. For comparison, the 64849 zip code has both the highest and lowest median property tax rate of 0.96%. Understanding how these cities compare with Neck City 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 Neck City Tax Rate
0.96%
Average Jasper County Tax Rate
0.89%
Average Missouri Tax Rate
1.20%
Average United States Tax Rate
0.99%
Property Tax Rates Across Neck City, Missouri
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 64849 | 0.76% | 0.94% | 0.96% | 1.02% | 1.03% |
Source: Ownwell
Property Tax Assessment Values Across Neck City, Missouri
In Neck City, 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 Neck City, 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. The median home price in Neck City is $41,370, with property tax bills ranging from $136 at the 25th percentile to $762 at the 90th percentile. Understanding these valuation concepts helps property owners navigate their tax responsibilities and comprehend how their property taxes are determined. Being aware of these processes in Neck City helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Neck City Assessed Value
$41,370
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 Neck City, Missouri
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 64849 | $7,588 | $14,395 | $41,370 | $61,532 | $95,810 |
Source: Ownwell
Property Tax Bills Across Neck City, Missouri
In Neck City, located in Jasper County, MO, property tax bills are calculated based on the assessed value of a homeowner's property. The assessed value is a percentage of the property's market value, which is determined by local assessors. For example, with a median home price of $41,370, the assessed value is used to calculate the tax bill. Factors influencing the tax bill include the property's assessed value, the local tax rate, and any applicable exemptions or deductions. The tax rate is applied to the assessed value to determine the annual tax bill. In Jasper County, the tax bills vary significantly; the 25th percentile tax bill is $136, while the 75th percentile tax bill is $570, and the 90th percentile tax bill is $762. Homeowners in Neck City may find their property tax bills impacting their overall housing costs, with the highest and lowest median tax bills both recorded at $365. This variability in tax bills can influence financial planning and the affordability of homeownership in the area.
Average Neck City Tax Bill
$365
Average Jasper County Tax Bill
$737
Average Missouri Tax Bill
$1,606
Average United States Tax Bill
$2,690
Property Tax Bills Across Neck City, Missouri
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 64849 | $73 | $136 | $365 | $570 | $762 |
Source: Ownwell