Cole Camp, Benton County, Missouri Property Taxes
The median property tax rate in Cole Camp, MO is 1.02%, slightly higher than the national median of 0.99% but lower than the Missouri state median of 1.20%. Given the median home value in Cole Camp is $62,316, the typical annual property tax bill is around $642, which is significantly below the national median of $2,690. Property taxes in Cole Camp are calculated based on the tax assessed value, which is often lower than the market value due to exemptions such as those for primary residences and agricultural properties. Understanding Cole Camp'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 Cole Camp or another part of Benton County, understanding the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Cole Camp, Benton County, Missouri Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.02%
Estimate Property Tax Bill
$636
$590
Ownwell’s Cole Camp Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Cole Camp with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Cole Camp 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 Cole Camp, Benton County, Missouri
Property taxes in Cole Camp, Missouri, are vital in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Cole Camp is 1.02%, higher than both the Missouri state median and the U.S. national median of 0.99%. Local government entities within Cole Camp set these rates annually, and they can vary significantly across different neighborhoods. Each year, Cole Camp 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 Cole Camp's effective property tax rate to other counties in Missouri and the national median. For comparison, the 65325 zip code has the highest median property tax rate of 1.02%, while the same zip code also has the lowest median tax rate of 1.02%. Understanding how these cities compare with Cole Camp provides valuable insights into the varying tax landscape across Benton County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Cole Camp Tax Rate
1.02%
Average Benton County Tax Rate
0.98%
Average Missouri Tax Rate
1.20%
Average United States Tax Rate
0.99%
Property Tax Rates Across Cole Camp, Benton County, Missouri
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 65325 | 1.00% | 1.00% | 1.02% | 1.06% | 1.09% |
Source: Ownwell
Property Tax Assessment Values Across Cole Camp, Benton County, Missouri
In Cole Camp, 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 Benton County Assessor 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 Cole Camp, 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 Cole Camp helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The highest median tax bill in Cole Camp is $642 in the 65325 zip code, which is also the lowest median tax bill, reflecting a consistent tax environment within the area.
Property Tax Assessment Values Across Cole Camp, Benton County, Missouri
Source: Ownwell
$27,737
$56,632
$85,526
Average Cole Camp Assessed Value
$62,316
Average Benton County Assessed Value
$50,947
Average Missouri Assessed Value
$129,505
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Cole Camp, Benton County, Missouri
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 65325 | $16,232 | $35,026 | $62,316 | $101,895 | $157,652 |
Source: Ownwell
Property Tax Bills Across Cole Camp, Benton County, Missouri
In Cole Camp, Benton County, MO, property tax bills are calculated based on the assessed value of a property, which is a percentage of its market value. For homeowners in this region, the median home price is $62,316. The property tax rate in Benton County is applied to this assessed value to determine the annual tax bill. Several factors influence the final tax bill, including the property's market value, local tax rates, and any applicable exemptions or deductions. Homeowners in Cole Camp typically see a wide range in their property tax bills. For instance, the 25th percentile tax bill is $359, while the 75th percentile reaches $1,032, and the 90th percentile can go up to $1,601. Understanding these factors is crucial for homeowners as property taxes significantly impact their annual expenses. Compared to the national median property tax rate of 0.99%, the rates in Benton County can be quite variable, influencing the affordability and financial planning for homeowners in Cole Camp.
Average Cole Camp Tax Bill
$642
Average Benton County Tax Bill
$492
Average Missouri Tax Bill
$1,606
Average United States Tax Bill
$2,690
Property Tax Bills Across Cole Camp, Benton County, Missouri
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 65325 | $167 | $359 | $642 | $1,032 | $1,601 |
Source: Ownwell