Cuba, Missouri Property Taxes
The median property tax rate in Cuba, MO is 0.81%, 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 $90,150 in Cuba, the typical annual property tax bill is $723, significantly less than the national median of $2,690. Property taxes in Cuba are calculated based on the tax assessed value, which often falls below the market value due to various exemptions like primary residence and agricultural exemptions. Understanding Cuba’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 Cuba 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
Cuba, Missouri Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.81%
Estimate Property Tax Bill
$730
Ownwell’s Cuba Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Cuba with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Cuba 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 Cuba, Missouri
Property taxes in Cuba, Missouri, are vital in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Cuba is 0.81%, lower than the U.S. national median of 0.99%. Local government entities within Cuba set these rates annually, and they can vary significantly across different neighborhoods. Each year, Cuba 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 Cuba's effective property tax rate to other counties in Missouri and the national median. For comparison, the 65453 zip code has the highest median property tax rate of 0.81%, while the same zip code also has the lowest median tax rate of 0.81%. Understanding how these cities compare with Cuba provides valuable insights into the varying tax landscape across Crawford County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Cuba Tax Rate
0.81%
Average Crawford County Tax Rate
0.89%
Average Missouri Tax Rate
1.20%
Average United States Tax Rate
0.99%
Property Tax Rates Across Cuba, Missouri
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 65453 | 0.78% | 0.81% | 0.81% | 0.81% | 0.81% |
Source: Ownwell
Property Tax Assessment Values Across Cuba, Missouri
In Cuba, 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 Crawford 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 Cuba, 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 Cuba helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The zip code 65453 in Cuba has both the highest and lowest median tax bills at $723.
Average Cuba Assessed Value
$90,150
Average Crawford County Assessed Value
$81,600
Average Missouri Assessed Value
$129,505
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Cuba, Missouri
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 65453 | $32,790 | $55,975 | $90,150 | $134,600 | $187,020 |
Source: Ownwell
Property Tax Bills Across Cuba, Missouri
In Cuba, Crawford County, MO, property tax bills are determined by multiplying the assessed value of a home by the local tax rate. The assessed value is typically a percentage of the home's market value, which is determined by local assessors. Various factors such as property size, location, and improvements can influence this assessed value. For instance, with a median home price of $90,150, homeowners in Cuba can expect a range of tax bills. At the 25th percentile, the tax bill is around $453, while at the 75th percentile, it rises to approximately $1,082. The 90th percentile sees tax bills as high as $1,506. Notably, the median tax bill in the 65453 zip code is $723, regardless of it being the highest or lowest in the area. Compared to the national median property tax rate of 0.99%, Cuba's property tax bills can significantly impact homeowners, influencing their annual financial planning. Understanding these factors can help homeowners better anticipate their property tax obligations.
Average Cuba Tax Bill
$723
Average Crawford County Tax Bill
$745
Average Missouri Tax Bill
$1,606
Average United States Tax Bill
$2,690
Property Tax Bills Across Cuba, Missouri
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 65453 | $267 | $453 | $723 | $1,082 | $1,506 |
Source: Ownwell