Missouri City, Clay County, Missouri Property Taxes
The median property tax rate in Missouri City, MO is 0.93%, which is lower than both the national median of 0.99% and the Missouri state median of 1.20%. With a median home value of $67,211 in Missouri City, the typical annual property tax bill is around $610, significantly less than the national median of $2,690. Property taxes in Missouri City are calculated based on the tax assessed value, which often falls below the market value due to various exemptions such as primary residence and agricultural exemptions. Understanding Missouri City'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 Missouri City or another part of the city, grasping the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Missouri City, Clay County, Missouri Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.93%
Estimate Property Tax Bill
$625
$580
Ownwell’s Missouri City Property Tax Bill Calculator assists homeowners, real estate investors, and potential buyers in estimating their annual property taxes in Missouri City using just two key data points. By inputting your property's estimated assessed value, the calculator applies the median tax rate for Missouri City to provide an accurate estimate of your property tax bill. This valuable tool helps you anticipate potential tax liabilities. For those interested in more granular insights, further localized information is available below. Your property’s assessed value, determined by the county, is used for property tax calculations and takes into account any applicable exemptions.
Property Tax Rates Across Missouri City, Clay County, Missouri
Property taxes in Missouri City, Missouri, are vital in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Missouri City is 0.93%, slightly lower than the U.S. national median of 0.99%. Local government entities within Missouri City set these rates annually, and they can vary significantly across different neighborhoods. Each year, Missouri 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 Missouri City's effective property tax rate to other areas and the national median. For comparison, the zip code 64072 has the highest median property tax rate of 0.93%, while the same zip code also has the lowest median tax rate of 0.93%. Understanding how these areas compare with Missouri City provides valuable insights into the varying tax landscape across Clay County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Missouri City Tax Rate
0.93%
Average Clay County Tax Rate
1.34%
Average Missouri Tax Rate
1.20%
Average United States Tax Rate
0.99%
Property Tax Rates Across Missouri City, Clay County, Missouri
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 64072 | 0.85% | 0.90% | 0.93% | 1.11% | 1.11% |
Source: Ownwell
Property Tax Assessment Values Across Missouri City, Clay County, Missouri
In Missouri 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 Clay 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 Missouri 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 Missouri City helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The zip code with the highest median tax bill is 64072, with a tax bill of $610.
Property Tax Assessment Values Across Missouri City, Clay County, Missouri
Source: Ownwell
$62,552
$212,855
$363,158
Average Missouri City Assessed Value
$67,211
Average Clay County Assessed Value
$203,105
Average Missouri Assessed Value
$129,505
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Missouri City, Clay County, Missouri
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 64072 | $12,253 | $31,105 | $67,211 | $103,526 | $124,474 |
Source: Ownwell
Property Tax Bills Across Missouri City, Clay County, Missouri
In Missouri City, located in Clay County, property tax bills are calculated based on the assessed value of a home, which is a percentage of its market value. The median home price in this area is $67,211. The local tax rate is applied to this assessed value to determine the annual property tax bill. Factors such as property improvements and changes in market conditions can influence the assessed value, thereby affecting the tax bill. For homeowners in Missouri City, the property tax burden varies significantly. At the 25th percentile, tax bills are around $326, while at the 75th percentile, they rise to $947. The top 10% of property tax bills can reach up to $1,235. Compared to the national median property tax rate of 0.99%, Missouri City's tax rates offer a diverse range of financial impacts on homeowners. Understanding these factors can help residents better prepare for their annual property tax obligations and manage their financial planning effectively.
Average Missouri City Tax Bill
$610
Average Clay County Tax Bill
$2,651
Average Missouri Tax Bill
$1,606
Average United States Tax Bill
$2,690
Property Tax Bills Across Missouri City, Clay County, Missouri
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 64072 | $136 | $326 | $610 | $947 | $1,235 |
Source: Ownwell