Clark, Missouri Property Taxes
The median property tax rate in Clark, MO is 1.24%, considerably higher than both the national median of 0.99% and the Missouri state median of 1.20%. With the median home value in Clark, the typical annual property tax bill reaches $1,369, exceeding the national median of $2,690. Property taxes in Clark are calculated based on the assessed value, which typically falls below the market value due to various exemptions like the primary residence and agricultural exemptions. Understanding Clark'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 Clark 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
Clark, 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 Clark Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Clark with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Clark 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 Clark, Missouri
Property taxes in Clark, Missouri, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Clark is 0.74%, lower than both the Missouri state median of 0.91% and the U.S. national median of 0.99%. Local government entities within Clark set these rates annually, and they can vary significantly across different neighborhoods. Each year, Clark 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 Clark's effective property tax rate to other counties in Missouri and the national median. For comparison, the 65243 zip code has the highest median property tax rate of 0.74%, while the same zip code also has the lowest median tax rate of 0.74%. Understanding how these cities compare with Clark provides valuable insights into the varying tax landscape across Boone County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Clark Tax Rate
1.24%
Average Boone County Tax Rate
1.27%
Average Missouri Tax Rate
1.20%
Average United States Tax Rate
0.99%
Property Tax Rates Across Clark, Missouri
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 65243 | 1.11% | 1.19% | 1.24% | 1.25% | 1.28% |
Source: Ownwell
Property Tax Assessment Values Across Clark, Missouri
In Clark, 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 Boone 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 Clark, 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. The zip code 65243 has the highest median tax bill of $1,369, and the lowest median tax bill is also in the same zip code, highlighting a consistent tax environment. Being aware of these valuation processes in Clark helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Clark Assessed Value
$66,735
Average Boone County Assessed Value
$153,300
Average Missouri Assessed Value
$129,505
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Clark, Missouri
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 65243 | $5,739 | $15,948 | $66,735 | $151,610 | $219,076 |
Source: Ownwell
Property Tax Bills Across Clark, Missouri
In CLARK, property tax bills are calculated based on the assessed value of the home, which is determined by the local tax assessor. This assessed value is a percentage of the property's market value. Homeowners in CLARK, located in Boone County, MO, can expect their property tax rates to be slightly higher than the national median property tax rate of 0.99%. Factors such as location, property size, and improvements made to the home are considered when determining the assessed value. For example, the median home price in CLARK is $66,735, leading to varying tax bills across different percentiles. At the 25th percentile, homeowners might see tax bills around $839, while those at the 75th percentile could face bills as high as $2,361. The 90th percentile sees tax bills reaching up to $3,010. These property taxes significantly impact homeowners, influencing their overall cost of living and sometimes their decisions regarding property improvements and investments.
Average Clark Tax Bill
$1,369
Average Boone County Tax Bill
$2,051
Average Missouri Tax Bill
$1,606
Average United States Tax Bill
$2,690
Property Tax Bills Across Clark, Missouri
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 65243 | $373 | $839 | $1,369 | $2,361 | $3,010 |
Source: Ownwell