Hunnewell, Missouri Property Taxes
The median property tax rate in Hunnewell, 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 $140,730 in Hunnewell, the typical annual property tax bill is $1,291, which is considerably less than the national median of $2,690. Property taxes in Hunnewell are calculated based on the assessed value, which often falls below the market value due to various exemptions like the primary residence and agricultural exemptions. Understanding Hunnewell'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 Hunnewell or another part of Marion County, understanding the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Hunnewell, Missouri Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.96%
Estimate Property Tax Bill
$1,351
Ownwell’s HUNNEWELL Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in HUNNEWELL with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in HUNNEWELL 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 Hunnewell, Missouri
Property taxes in Hunnewell, Missouri, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Hunnewell is 0.96%, slightly below the U.S. national median of 0.99%. Local government entities within Hunnewell set these rates annually, and they can vary significantly across different neighborhoods. Each year, Hunnewell 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 Hunnewell's effective property tax rate to other counties in Missouri and the national median. For comparison, the 63443 zip code has both the highest and lowest median property tax rate of 0.96%. Understanding how these cities compare with Hunnewell provides valuable insights into the varying tax landscape across Marion County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Hunnewell Tax Rate
0.96%
Average Marion County Tax Rate
1.02%
Average Missouri Tax Rate
1.20%
Average United States Tax Rate
0.99%
Property Tax Rates Across Hunnewell, Missouri
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 63443 | 0.76% | 0.86% | 0.96% | 1.03% | 1.07% |
Source: Ownwell
Property Tax Assessment Values Across Hunnewell, Missouri
In Hunnewell, Missouri, understanding the difference between "market value" and "assessed value" is crucial for comprehending property taxes. The market value represents 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 Marion 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 Hunnewell, 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 Hunnewell helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The zip code with the highest and lowest median tax bill is 63443, with a median tax bill of $1,291, compared to the national median property tax rate of 0.99%.
Average Hunnewell Assessed Value
$140,730
Average Marion County Assessed Value
$80,490
Average Missouri Assessed Value
$129,505
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Hunnewell, Missouri
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 63443 | $44,295 | $79,148 | $140,730 | $173,005 | $205,555 |
Source: Ownwell
Property Tax Bills Across Hunnewell, Missouri
In Hunnewell, Marion County, MO, property tax bills are calculated based on the assessed value of a homeowner's property. The assessed value is determined by the local assessor and represents a percentage of the property's market value. This assessed value is then multiplied by the local tax rate to calculate the annual tax bill. Several factors influence the assessed value, including the property's location, size, and condition. For example, the median home price in Hunnewell is $140,730. Homeowners in the 25th percentile can expect a tax bill around $755, while those in the 75th percentile might see a bill closer to $1,522. At the 90th percentile, tax bills can reach approximately $1,979. These property tax bills impact homeowners by affecting their annual housing costs. Comparing this to the national median property tax rate of 0.99%, Hunnewell's property tax rates offer a competitive edge, potentially making it an attractive location for prospective homeowners.
Average Hunnewell Tax Bill
$1,291
Average Marion County Tax Bill
$807
Average Missouri Tax Bill
$1,606
Average United States Tax Bill
$2,690
Property Tax Bills Across Hunnewell, Missouri
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 63443 | $431 | $755 | $1,291 | $1,522 | $1,979 |
Source: Ownwell