Mosby, Clay County, Missouri Property Taxes
The median property tax rate in Mosby, MO is 1.26%, considerably higher than both the national median of 0.99% and the Missouri state median of 1.20%. With the median home value in Mosby, the typical annual property tax bill reaches $793, which is significantly lower than the national median of $2,690. Property taxes in Mosby 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 Mosby'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 Mosby 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
Mosby, Clay County, Missouri Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.26%
Estimate Property Tax Bill
$788
$731
Ownwell’s Mosby Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Mosby with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Mosby 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 Mosby, Clay County, Missouri
Property taxes in Mosby, Missouri, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Mosby is 1.26%, higher than both the Missouri state median and the U.S. national median of 0.99%. Local government entities within Mosby set these rates annually, and they can vary significantly across different neighborhoods. Each year, Mosby 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 Mosby's effective property tax rate to other counties in Missouri and the national median. For comparison, the 64024 zip code 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 Mosby 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 Mosby Tax Rate
1.26%
Average Clay County Tax Rate
1.34%
Average Missouri Tax Rate
1.20%
Average United States Tax Rate
0.99%
Property Tax Rates Across Mosby, Clay County, Missouri
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 64024 | 1.15% | 1.23% | 1.26% | 1.35% | 1.40% |
Source: Ownwell
Property Tax Assessment Values Across Mosby, Clay County, Missouri
In Mosby, 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 Mosby, 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 median tax bill in Mosby is $793, with the highest and lowest median tax bills both recorded in the 64024 zip code. Being aware of these valuation processes helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Property Tax Assessment Values Across Mosby, Clay County, Missouri
Source: Ownwell
$62,552
$212,855
$363,158
Average Mosby Assessed Value
$62,552
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 Mosby, Clay County, Missouri
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 64024 | $7,163 | $34,842 | $62,552 | $82,395 | $177,322 |
Source: Ownwell
Property Tax Bills Across Mosby, Clay County, Missouri
In Mosby, property tax bills are calculated based on the assessed value of a property, which is a percentage of its market value. This assessed value is then multiplied by the local tax rate to determine the annual tax bill. For homeowners in Mosby, the median home price is $62,552. Property tax bills vary significantly, with the 25th percentile at $435 and the 75th percentile reaching $993. At the 90th percentile, tax bills can be as high as $2,026. These figures highlight the range of property tax obligations faced by residents. Several factors influence the final tax bill, including property size, location, and any applicable exemptions. In comparison, the national median property tax rate is 0.99%, which provides a benchmark for understanding local tax rates. For homeowners, these taxes impact monthly budgets and overall housing affordability. High property taxes can increase the cost of homeownership, while lower taxes may make it easier for residents to manage their expenses.
Average Mosby Tax Bill
$793
Average Clay County Tax Bill
$2,651
Average Missouri Tax Bill
$1,606
Average United States Tax Bill
$2,690
Property Tax Bills Across Mosby, Clay County, Missouri
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 64024 | $108 | $435 | $793 | $993 | $2,026 |
Source: Ownwell