Austin, Missouri Property Taxes
The median property tax rate in Austin, MO is 0.84%, which is lower than both the national median of 0.99% and the Missouri state median of 1.20%. With a median home value in Austin of $4,600, the typical annual property tax bill is $39, significantly below the national median of $2,690. Property taxes in Austin are calculated based on the tax assessed value, which often falls below the market value due to exemptions such as the primary residence and agricultural exemptions. Understanding Austin'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 Austin 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
Austin, Missouri Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.84%
Estimate Property Tax Bill
$39
Ownwell’s Austin Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Austin with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Austin 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 Austin, Missouri
Property taxes in Austin, Missouri, are crucial for funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Austin is 0.84%, which is below the U.S. national median of 0.99%. Local government entities within Austin set these rates annually, and they can vary significantly across different neighborhoods. Each year, Austin 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 Austin's effective property tax rate to other counties in Missouri and the national median. For comparison, the zip code 78717 has both the highest and lowest median property tax rate in the area, at 0.84%. Understanding how these cities compare with Austin provides valuable insights into the varying tax landscape across Morgan County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Austin Tax Rate
0.84%
Average Morgan County Tax Rate
0.87%
Average Missouri Tax Rate
1.20%
Average United States Tax Rate
0.99%
Property Tax Rates Across Austin, Missouri
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 78717 | 0.84% | 0.84% | 0.84% | 0.84% | 0.84% |
Source: Ownwell
Property Tax Assessment Values Across Austin, Missouri
In Austin, 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 Morgan 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 Austin, 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 Austin helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Austin Assessed Value
$4,600
Average Morgan County Assessed Value
$49,350
Average Missouri Assessed Value
$129,505
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Austin, Missouri
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 78717 | $4,600 | $4,600 | $4,600 | $4,600 | $4,600 |
Source: Ownwell
Property Tax Bills Across Austin, Missouri
In Austin, Morgan County, MO, property tax bills are calculated based on the assessed value of the property, which is a percentage of its market value. The local tax rate is then applied to this assessed value to determine the final tax bill. For homeowners in Austin, the median home price is $4,600, and the tax bills can vary significantly. At the 25th, 75th, and 90th percentiles, the tax bill is consistently $39, indicating a relatively uniform tax rate across different property values in the area. Several factors influence the property tax bill, including the property's assessed value, the local tax rate, and any applicable exemptions or deductions. These factors collectively determine the financial responsibility of homeowners. Compared to the national median property tax rate of 0.99%, Austin's property tax rate results in relatively modest tax bills, which can be a financial relief for homeowners. Understanding these factors can help homeowners better anticipate their annual property tax obligations and manage their finances more effectively.
Average Austin Tax Bill
$39
Average Morgan County Tax Bill
$420
Average Missouri Tax Bill
$1,606
Average United States Tax Bill
$2,690
Property Tax Bills Across Austin, Missouri
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 78717 | $39 | $39 | $39 | $39 | $39 |
Source: Ownwell