Harshaw, Missouri Property Taxes
The median property tax rate in Harshaw, MO is 0.94%, slightly below the national median of 0.99% and significantly lower than the Missouri state median of 1.20%. With a median home value of $7,200 in Harshaw, the typical annual property tax bill amounts to $68, which is much less than the national median of $2,690. Property taxes in Harshaw are calculated based on the tax assessed value, often lower than the market value due to exemptions such as those for primary residences and agricultural properties. Gaining a thorough understanding of Harshaw's property tax system, exploring available exemptions, and identifying opportunities for reductions can lead to substantial annual savings. Whether you reside in the heart of Harshaw or another part of the city, being well-versed in the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Harshaw, 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 Harshaw Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Harshaw with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Harshaw 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 Harshaw, Missouri
Property taxes in Harshaw, Missouri, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Harshaw is 0.94%, slightly below the U.S. national median of 0.99%. Local government entities within Harshaw set these rates annually, and they can vary significantly across different neighborhoods. Each year, Harshaw 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 Harshaw's effective property tax rate to other counties in Missouri and the national median. For comparison, the 54529 zip code has both the highest and lowest median property tax rate of 0.94%. Understanding how these areas compare with Harshaw 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 Harshaw Tax Rate
0.94%
Average Morgan County Tax Rate
0.87%
Average Missouri Tax Rate
1.20%
Average United States Tax Rate
0.99%
Property Tax Rates Across Harshaw, Missouri
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 54529 | 0.94% | 0.94% | 0.94% | 0.94% | 0.94% |
Source: Ownwell
Property Tax Assessment Values Across Harshaw, Missouri
In Harshaw, 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 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 Harshaw, 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 Harshaw helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Harshaw Assessed Value
$7,200
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 Harshaw, Missouri
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 54529 | $7,200 | $7,200 | $7,200 | $7,200 | $7,200 |
Source: Ownwell
Property Tax Bills Across Harshaw, Missouri
In Harshaw, located in Morgan County, MO, property tax bills are calculated based on the assessed value of a home, which is determined by the local assessor's office. The median home price in Harshaw is $7,200. Property tax rates are applied to this assessed value to determine the annual tax bill. For homeowners in Harshaw, the tax bills are quite consistent, with the 25th, 75th, and 90th percentiles all at $68. Several factors influence the tax bill, including the property's market value, assessment ratio, and the local tax rate. The consistent tax bills suggest a uniform rate applied across various property values. Compared to the national median property tax rate of 0.99%, Harshaw's property taxes are relatively low, making it an affordable location for homeowners. This low tax burden can be a significant advantage, reducing overall housing costs and making homeownership more accessible.
Average Harshaw Tax Bill
$68
Average Morgan County Tax Bill
$420
Average Missouri Tax Bill
$1,606
Average United States Tax Bill
$2,690
Property Tax Bills Across Harshaw, Missouri
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 54529 | $68 | $68 | $68 | $68 | $68 |
Source: Ownwell