Grant City, Missouri Property Taxes
The median property tax rate in Grant City, MO is 1.27%, considerably higher than both the national median of 0.99% and the Missouri state median of 1.20%. With the median home value in Grant City at $30,000, the typical annual property tax bill reaches $378, which is significantly lower than the national median of $2,690. Property taxes in Grant City 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 Grant City'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 Grant City 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
Grant City, 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 Grant City Property Tax Bill Calculator is an invaluable tool for homeowners, real estate investors, and potential buyers who want to estimate their annual property taxes in Grant City with minimal effort. By simply entering your property's estimated assessed value, the calculator uses the median tax rate in Grant City to provide an accurate estimate of your property tax bill. This easy-to-use tool offers valuable insights into potential tax liabilities, helping you make informed financial decisions. For those interested in more granular data, neighborhood-level trends are available further down the page. Your property’s assessed value, determined by the county, is crucial for property tax calculations and includes any applicable exemptions.
Property Tax Rates Across Grant City, Missouri
Property taxes in Grant City, Missouri, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Grant City is 1.27%, significantly higher than both the Missouri state median and the U.S. national median of 0.99%. Local government entities within Grant City set these rates annually, and they can vary significantly across different neighborhoods. Each year, Grant City 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 Grant City's effective property tax rate to other areas in Missouri and the national median. For comparison, the 64456 zip code has the same median property tax rate of 1.27%. Understanding how these areas compare with Grant City provides valuable insights into the varying tax landscape across Worth County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring regions.
Average Grant City Tax Rate
1.27%
Average Worth County Tax Rate
1.26%
Average Missouri Tax Rate
1.20%
Average United States Tax Rate
0.99%
Property Tax Rates Across Grant City, Missouri
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 64456 | 1.08% | 1.17% | 1.27% | 1.30% | 1.31% |
Source: Ownwell
Property Tax Assessment Values Across Grant City, Missouri
In Grant City, 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 Worth 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 Grant City, 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 Grant City helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. Notably, the zip code 64456 has the highest median tax bill of $378, which is also the lowest median tax bill in the area.
Average Grant City Assessed Value
$30,000
Average Worth County Assessed Value
$27,782
Average Missouri Assessed Value
$129,505
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Grant City, Missouri
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 64456 | $5,900 | $13,800 | $30,000 | $64,349 | $118,296 |
Source: Ownwell
Property Tax Bills Across Grant City, Missouri
In Grant City, located in Worth County, MO, property tax bills are calculated based on the assessed value of a home, which is a percentage of its market value. For example, if the median home price is $30,000, the assessed value is determined by the county’s assessment rate. The tax rate is then applied to this assessed value to calculate the tax bill. Factors such as property location, market conditions, and improvements to the property can influence the assessed value. For homeowners, the property tax bill can vary significantly. In Grant City, the tax bill at the 25th percentile is $174, while at the 75th percentile, it reaches $784. At the 90th percentile, homeowners might see a tax bill as high as $1,339. These variations highlight the impact of property value assessments and tax rates on the financial obligations of homeowners. Comparing this to the national median property tax rate of 0.99%, Grant City's property tax rates can be seen as relatively moderate, providing some relief to local homeowners.
Average Grant City Tax Bill
$378
Average Worth County Tax Bill
$356
Average Missouri Tax Bill
$1,606
Average United States Tax Bill
$2,690
Property Tax Bills Across Grant City, Missouri
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 64456 | $70 | $174 | $378 | $784 | $1,339 |
Source: Ownwell