Clarence, Missouri Property Taxes
The median property tax rate in Clarence, MO is 0.78%, which is lower than both the national median of 0.99% and the Missouri state median of 1.20%. With the median home value in Clarence, the typical annual property tax bill is $627, significantly less than the national median of $2,690. Property taxes in Clarence 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 Clarence'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 Clarence 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
Clarence, Missouri Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.78%
Estimate Property Tax Bill
$493
Ownwell’s Clarence Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Clarence with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Clarence 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 Clarence, Missouri
Property taxes in Clarence, Missouri, are crucial in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Clarence is 0.78%, which is lower than the U.S. national median of 0.99%. Local government entities within Clarence set these rates annually, and they can vary significantly across different neighborhoods. Each year, Clarence 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 Clarence's effective property tax rate to other counties in Missouri and the national median. For comparison, the 63437 zip code has both the highest and lowest median property tax rate of 0.78%. Understanding how these cities compare with Clarence provides valuable insights into the varying tax landscape across Macon County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Clarence Tax Rate
0.78%
Average Macon County Tax Rate
0.97%
Average Missouri Tax Rate
1.20%
Average United States Tax Rate
0.99%
Property Tax Rates Across Clarence, Missouri
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 63437 | 0.74% | 0.77% | 0.78% | 0.84% | 0.93% |
Source: Ownwell
Property Tax Assessment Values Across Clarence, Missouri
In Clarence, 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 Macon County Appraisal District 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 Clarence, 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 Clarence helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The median home price in Clarence is $63,211, with tax bills ranging from $411 at the 25th percentile to $1,109 at the 90th percentile. The zip code 63437 has both the highest and lowest median tax bill at $627.
Average Clarence Assessed Value
$63,211
Average Macon County Assessed Value
$49,737
Average Missouri Assessed Value
$129,505
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Clarence, Missouri
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 63437 | $39,323 | $52,491 | $63,211 | $127,706 | $138,832 |
Source: Ownwell
Property Tax Bills Across Clarence, Missouri
Property tax bills in Clarence, located in Macon County, MO, are calculated based on the assessed value of a property, which is determined by the local assessor's office. The assessed value is typically a percentage of the property's market value. In Clarence, homeowners can expect tax bills to vary significantly, with the 25th percentile tax bill at $411 and the 75th percentile at $921. The highest median tax bill recorded is $627, which is consistent across the zip code 63437. Several factors influence the final tax bill, including property type, location, and any applicable exemptions or deductions. The tax rate applied to the assessed value is set by local taxing authorities and can vary from year to year. For homeowners, these property tax bills represent a significant financial consideration, impacting annual budgeting and long-term financial planning. Comparing the local tax rate with the national median property tax rate of 0.99%, Clarence's tax rates can offer a relatively moderate burden for homeowners in the area.
Average Clarence Tax Bill
$627
Average Macon County Tax Bill
$506
Average Missouri Tax Bill
$1,606
Average United States Tax Bill
$2,690
Property Tax Bills Across Clarence, Missouri
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 63437 | $305 | $411 | $627 | $921 | $1,109 |
Source: Ownwell