Hughesville, Missouri Property Taxes
The median property tax rate in Hughesville, MO is 1.21%, slightly higher than both the national median of 0.99% and Missouri's state median of 1.20%. With the median home value in Hughesville, the typical annual property tax bill amounts to $82, which is significantly lower than the national median of $2,690. Property taxes in Hughesville are calculated based on the tax assessed value, often below market value due to exemptions like primary residence and agricultural exemptions. Understanding Hughesville'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 Hughesville 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
Hughesville, 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 Hughesville Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Hughesville with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Hughesville 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 Hughesville, Missouri
Property taxes in Hughesville, Missouri, are essential for funding local services such as public schools, road maintenance, and emergency services. The median tax rate in Hughesville is 0.89%, which is lower than both the Missouri state median of 0.97% and the U.S. national median of 0.99%. Local government entities within Hughesville set these rates annually, and they can vary significantly across different neighborhoods. Each year, Hughesville 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 Hughesville's effective property tax rate to other counties in Missouri and the national median. For comparison, the zip code 65334 has the highest median property tax rate of 1.21%, while the same zip code also has the lowest median tax rate of 1.21%. Understanding how these cities compare with Hughesville 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 Hughesville Tax Rate
1.21%
Average Morgan County Tax Rate
0.87%
Average Missouri Tax Rate
1.20%
Average United States Tax Rate
0.99%
Property Tax Rates Across Hughesville, Missouri
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 65334 | 0.90% | 1.02% | 1.21% | 1.40% | 1.52% |
Source: Ownwell
Property Tax Assessment Values Across Hughesville, Missouri
In Hughesville, 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 Hughesville, 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 Hughesville helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The median home price in Hughesville is $8,250, with tax bills ranging from $70 at the 25th percentile to $102 at the 90th percentile.
Average Hughesville Assessed Value
$8,250
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 Hughesville, Missouri
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 65334 | $4,530 | $5,925 | $8,250 | $10,575 | $11,970 |
Source: Ownwell
Property Tax Bills Across Hughesville, Missouri
In Hughesville, located in Morgan County, MO, property tax bills are calculated based on the assessed value of a home. The assessed value is a percentage of the property's market value, established by the county assessor. For homeowners in Hughesville, the median home price is $8,250. The local property tax rate is then applied to this assessed value to determine the annual tax bill. Several factors influence the final tax bill, including the property's location, any applicable exemptions, and local tax levies. For example, the 25th percentile of property tax bills in Hughesville is $70, while the 75th percentile reaches $94. At the 90th percentile, homeowners can expect a tax bill of around $102. Compared to the national median property tax rate of 0.99%, Hughesville offers relatively low property taxes, which can be a significant benefit for homeowners. Lower property taxes can make homeownership more affordable and potentially increase the attractiveness of the area for new residents.
Average Hughesville Tax Bill
$82
Average Morgan County Tax Bill
$420
Average Missouri Tax Bill
$1,606
Average United States Tax Bill
$2,690
Property Tax Bills Across Hughesville, Missouri
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 65334 | $62 | $70 | $82 | $94 | $102 |
Source: Ownwell