Hume, Bates County, Missouri Property Taxes
The median property tax rate in Hume, MO is 1.26%, considerably higher than both the national median of 0.99% and Missouri's state median of 1.20%. With a median home value of $47,100 in Hume, the typical annual property tax bill reaches $615, still below the national median of $2,690. Property taxes in Hume 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 Hume'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 Hume or another part of Bates County, understanding the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Hume, Bates County, Missouri Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.26%
Estimate Property Tax Bill
$593
$551
Ownwell’s Hume Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Hume with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Hume 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 Hume, Bates County, Missouri
Property taxes in Hume, Missouri, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Hume is 1.26%, higher than the U.S. national median of 0.99%. Local government entities within Hume set these rates annually, and they can vary significantly across different neighborhoods. Each year, Hume 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 Hume's effective property tax rate to other counties in Missouri and the national median. For comparison, the zip code 64752 has the highest median property tax rate of 1.26%, while the same zip code also has the lowest median tax rate of 1.26%. Understanding how these cities compare with Hume provides valuable insights into the varying tax landscape across Bates County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Hume Tax Rate
1.26%
Average Bates County Tax Rate
1.06%
Average Missouri Tax Rate
1.20%
Average United States Tax Rate
0.99%
Property Tax Rates Across Hume, Bates County, Missouri
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 64752 | 0.91% | 1.07% | 1.26% | 1.46% | 1.49% |
Source: Ownwell
Property Tax Assessment Values Across Hume, Bates County, Missouri
In Hume, 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 Bates 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 Hume, 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 Hume helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. Notably, the highest median tax bill in Hume's 64752 zip code is $615, while the lowest is also $615, reflecting a consistent tax landscape across the region.
Property Tax Assessment Values Across Hume, Bates County, Missouri
Source: Ownwell
$24,550
$69,900
$115,250
Average Hume Assessed Value
$47,100
Average Bates County Assessed Value
$68,300
Average Missouri Assessed Value
$129,505
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Hume, Bates County, Missouri
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 64752 | $10,900 | $25,600 | $47,100 | $94,100 | $161,900 |
Source: Ownwell
Property Tax Bills Across Hume, Bates County, Missouri
In Hume, property tax bills are calculated based on the assessed value of a home, which is a percentage of its market value. For instance, with a median home price of $47,100, local tax authorities determine the assessed value and apply the county's tax rate to calculate the tax bill. Various factors influence the final bill, including the home's location within Bates County and any applicable exemptions or deductions. Homeowners in Hume experience a range of property tax bills. The 25th percentile tax bill is around $332, while those at the 75th percentile pay approximately $1030. For higher-valued properties, the 90th percentile tax bill reaches up to $1588. The highest and lowest median tax bills in the area are both $615, specifically in the 64752 zip code. Compared to the national median property tax rate of 0.99%, Hume's rates can be seen as relatively moderate, providing some relief to homeowners. Nonetheless, these taxes are crucial for funding local services, such as schools and infrastructure, directly impacting the community's quality of life.
Average Hume Tax Bill
$615
Average Bates County Tax Bill
$704
Average Missouri Tax Bill
$1,606
Average United States Tax Bill
$2,690
Property Tax Bills Across Hume, Bates County, Missouri
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 64752 | $159 | $332 | $615 | $1,030 | $1,588 |
Source: Ownwell