Mokane, Callaway County, Missouri Property Taxes
The median property tax rate in Mokane, MO is 0.76%, which is notably lower than both the national median of 0.99% and Missouri's state median of 1.20%. With the median home value in Mokane at $95,975, the typical annual property tax bill is approximately $721, significantly below the national median of $2,690. Property taxes in Mokane are calculated based on the tax assessed value, which often falls below the market value due to exemptions such as primary residence and agricultural exemptions. Understanding Mokane's property tax system, exploring available exemptions, and identifying opportunities for reductions can lead to substantial annual savings. Whether you're in the heart of Mokane or another part of Callaway County, grasping the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Mokane, Callaway County, Missouri Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.76%
Estimate Property Tax Bill
$729
$677
Ownwell’s Mokane Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Mokane with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Mokane 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 Mokane, Callaway County, Missouri
Property taxes in Mokane, Missouri, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Mokane is 0.76%, which is lower than both the Missouri state median and the U.S. national median of 0.99%. Local government entities within Mokane set these rates annually, and they can vary significantly across different neighborhoods. Each year, Mokane 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 Mokane's effective property tax rate to other counties in Missouri and the national median. For comparison, the zip code 65059 has both the highest and lowest median property tax rate of 0.76%. Understanding how these areas compare with Mokane provides valuable insights into the varying tax landscape across Callaway County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Mokane Tax Rate
0.76%
Average Callaway County Tax Rate
1.19%
Average Missouri Tax Rate
1.20%
Average United States Tax Rate
0.99%
Property Tax Rates Across Mokane, Callaway County, Missouri
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 65059 | 0.65% | 0.73% | 0.76% | 0.82% | 0.98% |
Source: Ownwell
Property Tax Assessment Values Across Mokane, Callaway County, Missouri
In Mokane, 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 Callaway 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 Mokane, 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 Mokane helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The highest and lowest median tax bills in Mokane are both $721.00, found in the 65059 zip code.
Property Tax Assessment Values Across Mokane, Callaway County, Missouri
Source: Ownwell
$41,010
$92,250
$143,490
Average Mokane Assessed Value
$95,975
Average Callaway County Assessed Value
$118,130
Average Missouri Assessed Value
$129,505
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Mokane, Callaway County, Missouri
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 65059 | $26,118 | $49,082 | $95,975 | $168,882 | $241,282 |
Source: Ownwell
Property Tax Bills Across Mokane, Callaway County, Missouri
Property tax bills in Mokane, located in Callaway County, MO, are calculated based on the assessed value of a property, which is a percentage of its market value. The assessed value is then multiplied by the local tax rate to determine the annual tax bill. For instance, with a median home price of $95,975, homeowners can expect varying tax bills depending on where their property falls within the value spectrum. At the 25th percentile, the tax bill is around $420, while at the 75th percentile, it reaches approximately $1,264. For properties at the 90th percentile, the tax bill can be as high as $1,775. These figures show how property taxes can significantly impact homeowners, influencing their annual financial planning and long-term investment decisions. Comparatively, the national median property tax rate is 0.99%, which provides a benchmark for understanding local tax burdens. Homeowners in Mokane should stay informed about their property's assessed value and any changes in local tax rates to manage their expenses effectively.
Average Mokane Tax Bill
$721
Average Callaway County Tax Bill
$1,342
Average Missouri Tax Bill
$1,606
Average United States Tax Bill
$2,690
Property Tax Bills Across Mokane, Callaway County, Missouri
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 65059 | $221 | $420 | $721 | $1,264 | $1,775 |
Source: Ownwell