Catron, Missouri Property Taxes
The median property tax rate in Catron, MO is 0.95%, slightly below the national median of 0.99% and significantly lower than the Missouri state median of 1.20%. With the median home value in Catron at $60,900, the typical annual property tax bill is around $550, which is far less than the national median of $2,690. Property taxes in Catron 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 Catron'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 Catron 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
Catron, Missouri Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.95%
Estimate Property Tax Bill
$579
Ownwell’s Catron Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Catron with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Catron 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 Catron, Missouri
Property taxes in Catron, Missouri, play a crucial role in supporting essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Catron is 0.95%, which is slightly below the U.S. national median of 0.99%. Local government entities within Catron set these rates annually, and they can vary significantly across different neighborhoods. Each year, Catron 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. For comparison, the zip code 63833 in New Madrid County has both the highest and lowest median property tax rate at 0.95%. Understanding how these areas compare with Catron provides valuable insights into the varying tax landscape across New Madrid County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Catron Tax Rate
0.95%
Average New Madrid County Tax Rate
0.94%
Average Missouri Tax Rate
1.20%
Average United States Tax Rate
0.99%
Property Tax Rates Across Catron, Missouri
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 63833 | 0.80% | 0.86% | 0.95% | 1.01% | 1.08% |
Source: Ownwell
Property Tax Assessment Values Across Catron, Missouri
In Catron, 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 New Madrid County Assessor's Office 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 Catron, 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 Catron helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. Notably, the median home price in Catron is $60,900, with median tax bills ranging from $195 at the 25th percentile to $1,493 at the 90th percentile. The highest and lowest median tax bills are both $550 in the 63833 zip code.
Average Catron Assessed Value
$60,900
Average New Madrid County Assessed Value
$54,200
Average Missouri Assessed Value
$129,505
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Catron, Missouri
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 63833 | $7,360 | $19,475 | $60,900 | $108,450 | $172,680 |
Source: Ownwell
Property Tax Bills Across Catron, Missouri
In Catron, Missouri, property tax bills are calculated based on the assessed value of a home, which is determined by the local assessor's office. The assessed value is typically a percentage of the property's market value, and in Missouri, this percentage is usually set by state law. Once the assessed value is established, local tax rates, known as millage rates, are applied to determine the final tax bill. Homeowners in Catron can expect their property tax bills to vary significantly. For example, the tax bill at the 25th percentile is around $195, while at the 75th percentile, it reaches approximately $970. The 90th percentile tax bill can go up to $1,493. These variations are influenced by factors such as property location, market conditions, and any applicable exemptions or deductions. Compared to the national median property tax rate of 0.99%, Catron's rates reflect the local economic environment and property values. Understanding these factors helps homeowners anticipate their financial obligations and plan accordingly.
Average Catron Tax Bill
$550
Average New Madrid County Tax Bill
$513
Average Missouri Tax Bill
$1,606
Average United States Tax Bill
$2,690
Property Tax Bills Across Catron, Missouri
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 63833 | $73 | $195 | $550 | $970 | $1,493 |
Source: Ownwell