Parnell, Missouri Property Taxes
The median property tax rate in Parnell, MO is 1.28%, considerably higher than both the national median of 0.99% and the Missouri state median of 1.20%. With the median home value in Parnell, the typical annual property tax bill reaches $1,007, exceeding the national median of $2,690. Property taxes in Parnell 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 Parnell'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 Parnell 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
Parnell, Missouri Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.28%
Estimate Property Tax Bill
$998
Ownwell’s Parnell Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Parnell with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Parnell 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 Parnell, Missouri
Property taxes in Parnell, Missouri, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Parnell is 1.28%, significantly higher than the U.S. national median of 0.99%. Local government entities within Parnell set these rates annually, and they can vary significantly across different neighborhoods. Each year, Parnell 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 Parnell's effective property tax rate to other counties in Missouri and the national median. For comparison, the zip code 64475 has both the highest and lowest median property tax rate of 1.28%. Understanding how these areas compare with Parnell provides valuable insights into the varying tax landscape across Gentry County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Parnell Tax Rate
1.28%
Average Gentry County Tax Rate
1.36%
Average Missouri Tax Rate
1.20%
Average United States Tax Rate
0.99%
Property Tax Rates Across Parnell, Missouri
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 64475 | 1.11% | 1.16% | 1.28% | 1.43% | 1.49% |
Source: Ownwell
Property Tax Assessment Values Across Parnell, Missouri
In Parnell, 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 local county authorities 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 Parnell, 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 home price in Parnell is $78,005, with tax bills ranging from $831 at the 25th percentile to $1,170 at the 75th percentile. Being aware of these valuation processes helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Parnell Assessed Value
$78,005
Average Gentry County Assessed Value
$52,950
Average Missouri Assessed Value
$129,505
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Parnell, Missouri
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 64475 | $68,810 | $74,435 | $78,005 | $79,760 | $82,118 |
Source: Ownwell
Property Tax Bills Across Parnell, Missouri
In Parnell, located in Gentry County, MO, property tax bills are calculated based on the assessed value of a home, which is a percentage of its market value. For instance, the median home price in Parnell is $78,005. The tax rate is applied to this assessed value to determine the annual tax bill. Factors such as local government budgets, school funding, and public services influence the tax rate. Homeowners in Parnell can expect a wide range in their property tax bills. The 25th percentile tax bill is $831, while the 75th percentile reaches $1,170, and the 90th percentile tops out at $1,184. These figures indicate variability in tax burdens based on property values and local tax levies. Comparatively, the national median property tax rate is 0.99%, which provides a benchmark for understanding local tax impacts. For homeowners, these taxes contribute significantly to community services but also represent a substantial annual expense.
Average Parnell Tax Bill
$1,007
Average Gentry County Tax Bill
$746
Average Missouri Tax Bill
$1,606
Average United States Tax Bill
$2,690
Property Tax Bills Across Parnell, Missouri
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 64475 | $792 | $831 | $1,007 | $1,170 | $1,184 |
Source: Ownwell