Union, Missouri Property Taxes
The median property tax rate in Union, MO is 1.14%, slightly higher than the national median of 0.99% but below the Missouri state median of 1.20%. With the median home value in Union at $146,355, the typical annual property tax bill reaches $1,675, which is lower than the national median of $2,690. Property taxes in Union 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 Union'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 Union or another part of Franklin County, understanding the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Union, Missouri Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.14%
Estimate Property Tax Bill
$1,668
Ownwell’s UNION Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in UNION with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in UNION 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 Union, Missouri
Property taxes in Union, Missouri, are crucial for funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Union is 1.14%, higher than both the Missouri state median and the U.S. national median of 0.99%. Local government entities within Union set these rates annually, and they can vary significantly across different neighborhoods. Each year, Union 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 Union's effective property tax rate to other counties in Missouri and the national median. For comparison, the 63084 zip code has the highest median property tax rate of 1.14%, while the same zip code has the lowest median tax rate of 1.14%. Understanding how these cities compare with Union provides valuable insights into the varying tax landscape across Franklin County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Union Tax Rate
1.14%
Average Franklin County Tax Rate
1.08%
Average Missouri Tax Rate
1.20%
Average United States Tax Rate
0.99%
Property Tax Rates Across Union, Missouri
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 63084 | 1.01% | 1.01% | 1.14% | 1.14% | 1.14% |
Source: Ownwell
Property Tax Assessment Values Across Union, Missouri
Understanding the difference between "market value" and "assessed value" is crucial for comprehending property taxes in Union, Missouri. 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 Franklin 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 Union, 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 Union helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The zip code with the highest and lowest median tax bill in Union is 63084, with a median tax bill of $1,675.
Average Union Assessed Value
$146,355
Average Franklin County Assessed Value
$143,800
Average Missouri Assessed Value
$129,505
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Union, Missouri
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 63084 | $43,510 | $99,392 | $146,355 | $193,418 | $250,879 |
Source: Ownwell
Property Tax Bills Across Union, Missouri
In Union, located in Franklin County, MO, property tax bills are calculated based on the assessed value of a home. The assessed value is determined by the county assessor and represents a percentage of the property's market value. For instance, with a median home price of $146,355, the tax bill may vary significantly depending on the specific assessed value and applicable tax rate. Homeowners in Union can expect a range of property tax bills. At the 25th percentile, tax bills are around $1,227, while those at the 75th percentile reach approximately $2,130. The highest tax bills, at the 90th percentile, can be as much as $2,672. These figures reflect the variability in assessed values and the different factors that influence the final tax amount. Comparatively, Union's property tax rates are influenced by local government budgets, school funding, and public services, impacting homeowners by contributing to the overall cost of homeownership. Understanding these factors helps homeowners anticipate and manage their annual property tax obligations effectively.
Average Union Tax Bill
$1,675
Average Franklin County Tax Bill
$1,687
Average Missouri Tax Bill
$1,606
Average United States Tax Bill
$2,690
Property Tax Bills Across Union, Missouri
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 63084 | $821 | $1,227 | $1,675 | $2,130 | $2,672 |
Source: Ownwell