Kearney, Missouri Property Taxes
The median property tax rate in Kearney, MO is 0.85%, which is lower than both the national median of 0.99% and Missouri's state median of 1.20%. With a median home value of $111,100 in Kearney, the typical annual property tax bill is approximately $939, well below the national median of $2,690. Property taxes in Kearney are calculated based on the tax assessed value, which often falls below the market value due to various exemptions, such as those for primary residences and agricultural properties. Understanding Kearney'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 Kearney 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
Kearney, Missouri Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.85%
Estimate Property Tax Bill
$944
Ownwell’s Kearney Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Kearney with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Kearney 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 Kearney, Missouri
Property taxes in Kearney, Missouri, are essential for funding crucial local services such as public schools, road maintenance, and emergency services. The median tax rate in Kearney is 1.13%, higher than both the Missouri state median of 0.91% and the U.S. national median of 0.99%. Local government entities within Kearney set these rates annually, and they can vary significantly across different neighborhoods. Each year, Kearney 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 Kearney's effective property tax rate to other counties in Missouri and the national median. For comparison, the 64060 zip code has the highest median property tax rate of 1.13%, while the 64060 zip code also has the lowest median tax rate of 1.13%. Understanding how these cities compare with Kearney provides valuable insights into the varying tax landscape across Clay County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Kearney Tax Rate
0.85%
Average Morgan County Tax Rate
0.87%
Average Missouri Tax Rate
1.20%
Average United States Tax Rate
0.99%
Property Tax Rates Across Kearney, Missouri
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 64060 | 0.53% | 0.65% | 0.85% | 0.85% | 0.85% |
Source: Ownwell
Property Tax Assessment Values Across Kearney, Missouri
In Kearney, 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 Kearney, 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 Kearney helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. For instance, the highest median tax bill in the area is $939 in zip code 64060, while the lowest median tax bill is also $939 in the same zip code.
Average Kearney Assessed Value
$111,100
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 Kearney, Missouri
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 64060 | $78,140 | $90,500 | $111,100 | $299,500 | $412,540 |
Source: Ownwell
Property Tax Bills Across Kearney, Missouri
Property tax bills in Kearney, located in Morgan County, MO, are calculated based on the assessed value of a property and the local tax rate. The assessed value is typically a percentage of the property's market value, which in Kearney is influenced by various factors such as location, property size, and condition. Homeowners in Kearney can expect a median home price of $111,100. The tax rate in Kearney is determined by local taxing authorities and is applied to the assessed value to calculate the annual tax bill. For example, in Morgan County, the 25th percentile of tax bills is $626, while the 75th percentile reaches $2,548, and the 90th percentile is as high as $3,513. These variations reflect differences in property values and applicable exemptions. Compared to the national median property tax rate of 0.99%, Kearney's rates can significantly impact homeowners, influencing their overall cost of living and financial planning. Understanding these factors helps homeowners anticipate their annual property tax obligations more accurately.
Average Kearney Tax Bill
$939
Average Morgan County Tax Bill
$420
Average Missouri Tax Bill
$1,606
Average United States Tax Bill
$2,690
Property Tax Bills Across Kearney, Missouri
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 64060 | $438 | $626 | $939 | $2,548 | $3,513 |
Source: Ownwell