Higginsville, Missouri Property Taxes
The median property tax rate in Higginsville, MO is 0.95%, slightly lower than the national median of 0.99% and significantly below Missouri's state median of 1.20%. With a median home value in Higginsville, the typical annual property tax bill amounts to $57, which is well below the national median of $2,690. Property taxes in Higginsville are calculated based on the tax assessed value, which often falls below the market value due to exemptions such as those for primary residences and agricultural properties. Understanding Higginsville'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 Higginsville or another part of Morgan County, gaining insight into the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Higginsville, Missouri Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.95%
Estimate Property Tax Bill
$34
Ownwell’s Higginsville Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Higginsville with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Higginsville 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 Higginsville, Missouri
Property taxes in Higginsville, Missouri, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Higginsville is 0.95%, which is slightly lower than the U.S. national median of 0.99%. Local government entities within Higginsville set these rates annually, and they can vary significantly across different neighborhoods. Each year, Higginsville 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 Higginsville's effective property tax rate to other areas in Morgan County and the national median. For comparison, the zip code 64037 has the highest median property tax rate of 0.95%, while the same zip code also has the lowest median tax rate of 0.95%. Understanding how these areas compare with Higginsville 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 Higginsville Tax Rate
0.95%
Average Morgan County Tax Rate
0.87%
Average Missouri Tax Rate
1.20%
Average United States Tax Rate
0.99%
Property Tax Rates Across Higginsville, Missouri
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 64037 | 0.91% | 0.92% | 0.95% | 1.27% | 1.46% |
Source: Ownwell
Property Tax Assessment Values Across Higginsville, Missouri
In Higginsville, 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 local 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 Higginsville, 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 Higginsville helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The median home price in the area is $3,600, with tax bills ranging from $41 at the 25th percentile to $1,078 at the 90th percentile.
Average Higginsville Assessed Value
$3,600
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 Higginsville, Missouri
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 64037 | $2,880 | $3,150 | $3,600 | $75,850 | $119,200 |
Source: Ownwell
Property Tax Bills Across Higginsville, Missouri
In Higginsville, located in Morgan County, MO, property tax bills are calculated based on the assessed value of the home. The assessed value is typically a percentage of the market value, determined by the local assessor's office. For homeowners, this means that the higher the market value of the property, the higher the assessed value, and consequently, the higher the property tax bill. Several factors influence the tax bill, including the property's location, size, and any improvements made to it. Local tax rates, set by various taxing entities such as school districts and municipalities, also play a crucial role. These rates are applied to the assessed value to determine the final tax bill. For homeowners in Higginsville, property tax bills can vary significantly. For instance, the tax bill at the 25th percentile is around $41, while at the 75th percentile, it rises to approximately $695. At the 90th percentile, it can reach up to $1,078. Understanding these factors helps homeowners anticipate their property tax obligations and plan their finances accordingly.
Average Higginsville Tax Bill
$57
Average Morgan County Tax Bill
$420
Average Missouri Tax Bill
$1,606
Average United States Tax Bill
$2,690
Property Tax Bills Across Higginsville, Missouri
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 64037 | $32 | $41 | $57 | $695 | $1,078 |
Source: Ownwell