Nelson, Missouri Property Taxes
The median property tax rate in Nelson, MO is 1.18%, slightly higher than the national median of 0.99% but just below the Missouri state median of 1.20%. With a median home value of $77,300 in Nelson, the typical annual property tax bill amounts to $946, which is significantly lower than the national median of $2,690. Property taxes in Nelson are calculated based on the tax assessed value, which often falls below the market value due to various exemptions like the primary residence and agricultural exemptions. Understanding Nelson'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 Nelson 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
Nelson, Missouri Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.18%
Estimate Property Tax Bill
$912
Ownwell’s Nelson Property Tax Bill Calculator empowers homeowners, real estate investors, and potential buyers to estimate their annual property taxes in Nelson with ease. By simply entering your property's estimated assessed value, the calculator applies the median tax rate in Nelson to provide an estimate of your property tax bill. This valuable tool offers a clear understanding of potential tax liabilities. For those interested in more granular insights, localized neighborhood trends are available further down the page. Your property’s assessed value, determined by the county, is used for property tax calculations and considers any applicable exemptions.
Property Tax Rates Across Nelson, Missouri
Property taxes in Nelson, Missouri, are vital in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Nelson is 1.18%, higher than both the Missouri state median and the U.S. national median of 0.99%. Local government entities within Nelson set these rates annually, and they can vary significantly across different neighborhoods. Each year, Nelson 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. For comparison, the 65347 zip code has the highest median property tax rate of 1.18%, while the same zip code also has the lowest median tax rate of 1.18%. Understanding how these cities compare with Nelson provides valuable insights into the varying tax landscape across Cooper County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Nelson Tax Rate
1.18%
Average Cooper County Tax Rate
1.38%
Average Missouri Tax Rate
1.20%
Average United States Tax Rate
0.99%
Property Tax Rates Across Nelson, Missouri
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 65347 | 0.84% | 1.05% | 1.18% | 1.38% | 1.39% |
Source: Ownwell
Property Tax Assessment Values Across Nelson, Missouri
In Nelson, 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 Cooper County Appraisal District 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 Nelson, 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 Nelson helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The zip code 65347 has the highest and lowest median tax bill at $946, reflecting the variability within the region.
Average Nelson Assessed Value
$77,300
Average Cooper County Assessed Value
$83,000
Average Missouri Assessed Value
$129,505
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Nelson, Missouri
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 65347 | $44,310 | $53,200 | $77,300 | $92,475 | $141,420 |
Source: Ownwell
Property Tax Bills Across Nelson, Missouri
In Nelson, located in Cooper County, MO, 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 Nelson is $77,300. To determine the tax bill, the assessed value is multiplied by the local tax rate. For instance, if a home is assessed at 19% of its market value, and the tax rate is comparable to the national median property tax rate of 0.99%, homeowners would pay taxes on the assessed value of approximately $14,687. Factors such as property size, location, and improvements can influence the assessed value. Homeowners in Nelson can expect their annual tax bills to vary. At the 25th percentile, tax bills are around $594, while at the 75th percentile, they reach $1,212. For those at the 90th percentile, tax bills can be as high as $1,643. These property taxes fund local services, impacting the quality of schools, infrastructure, and public safety, thereby affecting the overall living experience in Nelson.
Average Nelson Tax Bill
$946
Average Cooper County Tax Bill
$1,092
Average Missouri Tax Bill
$1,606
Average United States Tax Bill
$2,690
Property Tax Bills Across Nelson, Missouri
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 65347 | $369 | $594 | $946 | $1,212 | $1,643 |
Source: Ownwell