Littleton, Missouri Property Taxes
The median property tax rate in Littleton, MO is 0.83%, which is notably lower than both the national median of 0.99% and the Missouri state median of 1.20%. With a median home value of $6,100 in Littleton, the typical annual property tax bill is $51, significantly below the national median of $2,690. Property taxes in Littleton are calculated based on the tax assessed value, which often falls below the market value due to various exemptions, including those for primary residences and agricultural properties. Understanding Littleton's property tax system, exploring available exemptions, and identifying opportunities for reductions can lead to substantial annual savings. Whether you're in the heart of Littleton or another part of the city, gaining insight into the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Littleton, Missouri Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.83%
Estimate Property Tax Bill
$51
Ownwell’s Littleton Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Littleton with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Littleton 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 Littleton, Missouri
Property taxes in Littleton, Missouri, are essential for funding local services such as public schools, road maintenance, and emergency services. The median tax rate in Littleton is 0.83%, which is lower than both the Missouri state median and the U.S. national median of 0.99%. Local government entities within Littleton determine these rates annually, and they can vary significantly across different neighborhoods. Each year, Littleton 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 Littleton's effective property tax rate to other areas in Missouri and the national median. For comparison, the highest median property tax rate in Morgan County is 1.2%, while the lowest median tax rate is 0.65%. Understanding how these areas compare with Littleton 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 Littleton Tax Rate
0.83%
Average Morgan County Tax Rate
0.87%
Average Missouri Tax Rate
1.20%
Average United States Tax Rate
0.99%
Property Tax Rates Across Littleton, Missouri
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|
Source: Ownwell
Property Tax Assessment Values Across Littleton, Missouri
In Littleton, 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 Littleton, 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 Littleton helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The highest tax bills are found in the zip code with a median home price of $6,100, while the lowest tax bills are also tied to properties with similar median home prices.
Average Littleton Assessed Value
$6,100
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 Littleton, Missouri
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|
Source: Ownwell
Property Tax Bills Across Littleton, Missouri
In Littleton, Morgan County, MO, property tax bills are calculated based on the assessed value of the property and the local tax rate. The assessed value is a percentage of the property's market value, which is determined by the county assessor. Morgan County uses a specific assessment ratio to determine this value. Once the assessed value is established, the local tax rate—expressed as a percentage—is applied to calculate the annual tax bill. For homeowners in Littleton, the median home price is $6,100, and the property tax bill remains consistent across different percentiles, with the 25th, 75th, and 90th percentiles all at $51. This uniformity suggests a stable and predictable tax environment for residents. Compared to the national median property tax rate of 0.99%, Littleton's property tax rate is significantly lower, providing a financial advantage to homeowners. This lower tax burden can make homeownership more affordable and may positively influence the local real estate market by making properties more attractive to buyers.
Average Littleton Tax Bill
$51
Average Morgan County Tax Bill
$420
Average Missouri Tax Bill
$1,606
Average United States Tax Bill
$2,690
Property Tax Bills Across Littleton, Missouri
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|
Source: Ownwell