Granite Falls, Missouri Property Taxes
The median property tax rate in Granite Falls, MO is 1.33%, considerably higher than both the national median of 0.99% and the Missouri state median of 1.20%. With the median home value in Granite Falls, the typical annual property tax bill reaches $77, exceeding the national median of $2,690. Property taxes in Granite Falls are calculated based on the tax assessed value, which typically falls below the market value due to various exemptions like the primary residence and agricultural exemptions. Understanding Granite Falls' property tax system, exploring available exemptions, and identifying opportunities for reductions can lead to significant annual savings. Whether you're in the heart of Granite Falls 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
Granite Falls, 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 Granite Falls Property Tax Bill Calculator empowers homeowners, real estate investors, and potential buyers to estimate their annual property taxes in Granite Falls with ease. By simply entering your property's estimated assessed value, the calculator utilizes the median tax rate in Granite Falls to provide a reliable estimate of your property tax bill. This valuable tool offers insight into potential tax liabilities, helping you plan your finances better. For those interested in more detailed trends at the neighborhood level, additional localized information is available further down the page. Your property’s assessed value, determined by Morgan County, is used for property tax calculations and takes into account any applicable exemptions.
Property Tax Rates Across Granite Falls, Missouri
Property taxes in Granite Falls, Missouri, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Granite Falls is 1.33%, which is significantly higher than both the Missouri state median and the U.S. national median of 0.99%. Local government entities within Granite Falls set these rates annually, and they can vary significantly across different neighborhoods. Each year, Granite Falls 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 Granite Falls' effective property tax rate to other counties in Missouri and the national median. For comparison, the 28630 zip code holds both the highest and lowest median property tax rate of 1.33%. Understanding how these cities compare with Granite Falls 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 Granite Falls Tax Rate
1.33%
Average Morgan County Tax Rate
0.87%
Average Missouri Tax Rate
1.20%
Average United States Tax Rate
0.99%
Property Tax Rates Across Granite Falls, Missouri
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 28630 | 1.33% | 1.33% | 1.33% | 1.33% | 1.33% |
Source: Ownwell
Property Tax Assessment Values Across Granite Falls, Missouri
In Granite Falls, 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 Assessor's Office 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 Granite Falls, 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 Granite Falls helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The median home price in Granite Falls is $5,800, with tax bills ranging from $77 at the 25th percentile to $77 at the 90th percentile.
Average Granite Falls Assessed Value
$5,800
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 Granite Falls, Missouri
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 28630 | $5,800 | $5,800 | $5,800 | $5,800 | $5,800 |
Source: Ownwell
Property Tax Bills Across Granite Falls, Missouri
In Granite Falls, Morgan County, MO, property tax bills are calculated based on the assessed value of a home. The assessed value is derived from a percentage of the property's market value. Local tax authorities then apply the tax rate to this assessed value to determine the annual tax bill. For homeowners in Granite Falls, the median home price is relatively modest at $5,800. Despite this, the tax bills are consistent across different percentiles, with homeowners typically paying $77 annually, which is significantly lower than the national median property tax rate of 0.99%. Several factors influence the final tax bill, including the property's assessed value, the local tax rate, and any applicable exemptions or deductions. This consistency in tax bills provides a predictable financial outlook for homeowners, making it easier to budget for property-related expenses. Understanding these elements can help homeowners anticipate their annual property tax obligations and plan accordingly.
Average Granite Falls Tax Bill
$77
Average Morgan County Tax Bill
$420
Average Missouri Tax Bill
$1,606
Average United States Tax Bill
$2,690
Property Tax Bills Across Granite Falls, Missouri
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 28630 | $77 | $77 | $77 | $77 | $77 |
Source: Ownwell