Simi Valley, Missouri Property Taxes
The median property tax rate in Simi Valley, MO is 1.74%, considerably higher than both the national median of 0.99% and the Missouri state median of 1.20%. With the median home value in Simi Valley, the typical annual property tax bill reaches $39, which is significantly lower than the national median of $2,690. Property taxes in Simi Valley are calculated based on the tax assessed value, which typically falls below the market value due to various exemptions like the primary residence and agricultural exemptions. Understanding Simi Valley'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 Simi Valley 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
Simi Valley, 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 Simi Valley Property Tax Bill Calculator is a valuable tool for homeowners, real estate investors, or potential buyers looking to estimate their annual property taxes in Simi Valley. By simply entering your property's estimated assessed value, the calculator uses the median tax rate in Simi Valley to provide an estimate of your property tax bill. This tool offers a clear understanding of potential tax liabilities, allowing for more informed financial planning. For those interested in more detailed trends at the neighborhood level, additional localized information is available by scrolling down. Your property's assessed value is determined by the county for tax calculations, taking into account any applicable exemptions.
Property Tax Rates Across Simi Valley, Missouri
Property taxes in Simi Valley, Missouri, are essential for funding crucial local services such as public schools, road maintenance, and emergency services. The median tax rate in Simi Valley is 1.74%, which is significantly higher than both the Missouri state median and the U.S. national median of 0.99%. Local government entities within Simi Valley set these rates annually, and they can vary significantly across different neighborhoods. Each year, Simi Valley 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 Simi Valley's effective property tax rate to other counties in Missouri and the national median. Understanding how these cities compare with Simi Valley 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 Simi Valley Tax Rate
1.74%
Average Morgan County Tax Rate
0.87%
Average Missouri Tax Rate
1.20%
Average United States Tax Rate
0.99%
Property Tax Rates Across Simi Valley, Missouri
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|
Source: Ownwell
Property Tax Assessment Values Across Simi Valley, Missouri
In Simi Valley, 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. Assessment notices in Simi Valley 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 Simi Valley helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. For instance, the zip codes with the highest tax bills report amounts up to $60, while those with the lowest tax bills can be as low as $30.
Average Simi Valley Assessed Value
$1,500
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 Simi Valley, Missouri
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|
Source: Ownwell
Property Tax Bills Across Simi Valley, Missouri
In Simi Valley, Morgan County, MO, property tax bills are calculated based on the assessed value of a home. The assessed value is determined by the county assessor and typically represents a percentage of the property's market value. Factors such as location, property size, and improvements can influence this valuation. Once the assessed value is established, the local property tax rate is applied to calculate the tax bill. For homeowners in Simi Valley, the median home price is $150,000, which provides a baseline for understanding tax obligations. Property tax bills in this area can vary significantly; for example, the 25th percentile tax bill is around $30, while the 75th percentile reaches $52, and the 90th percentile tops out at $60. These figures illustrate the range of tax burdens homeowners might face, depending on their property's assessed value and specific circumstances. Compared to the national median property tax rate of 0.99%, these local rates can affect homeowners' overall financial planning and housing affordability.
Average Simi Valley Tax Bill
$39
Average Morgan County Tax Bill
$420
Average Missouri Tax Bill
$1,606
Average United States Tax Bill
$2,690
Property Tax Bills Across Simi Valley, Missouri
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|
Source: Ownwell