Grant City, Missouri Property Taxes
The median property tax rate in Grant City, MO is 1.17%, slightly higher than the national median of 0.99% but just below Missouri's state median of 1.20%. With a median home value of $81,370 in Grant City, the typical annual property tax bill amounts to $890, which is significantly lower than the national median of $2,690. Property taxes in Grant City are calculated based on the tax assessed value, which often falls below the market value due to exemptions like those for primary residences and agricultural properties. Understanding Grant City'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 Grant City 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
Grant City, Missouri Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.17%
Estimate Property Tax Bill
$952
Ownwell’s Grant City Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Grant City with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Grant City 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 Grant City, Missouri
Property taxes in Grant City, Missouri, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Grant City is 1.07%, higher than both the Missouri state median of 0.91% and the U.S. national median of 0.99%. Local government entities within Grant City set these rates annually, and they can vary significantly across different neighborhoods. Each year, Grant City 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 Grant City's effective property tax rate to other counties in Missouri and the national median. For comparison, the 64456 zip code has the highest median property tax rate of 1.17%, while the same zip code also has the lowest median tax rate of 1.17%. Understanding how these areas compare with Grant City provides valuable insights into the varying tax landscape across Harrison County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Grant City Tax Rate
1.17%
Average Harrison County Tax Rate
1.31%
Average Missouri Tax Rate
1.20%
Average United States Tax Rate
0.99%
Property Tax Rates Across Grant City, Missouri
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 64456 | 1.00% | 1.06% | 1.17% | 1.31% | 1.41% |
Source: Ownwell
Property Tax Assessment Values Across Grant City, Missouri
In Grant City, 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 Harrison 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. Assessment notices are typically mailed out in the spring, usually by mid-April, in Grant City. 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 zip code with the highest median tax bill is 64456, amounting to $890, while the lowest is also 64456, with the same value. Being aware of these valuation processes helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Grant City Assessed Value
$81,370
Average Harrison County Assessed Value
$35,200
Average Missouri Assessed Value
$129,505
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Grant City, Missouri
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 64456 | $46,440 | $60,680 | $81,370 | $126,878 | $148,971 |
Source: Ownwell
Property Tax Bills Across Grant City, Missouri
In Grant City, located in Harrison County, MO, property tax bills are calculated based on the assessed value of a home, which is a percentage of its market value. The county assessors determine this value, and it serves as the foundation for the tax bill. Homeowners in Grant City can expect their property tax bills to vary significantly, with the 25th percentile paying around $652 annually and the 75th percentile paying about $1,230. For those in the top 10%, the tax bill can reach up to $1,971. Factors influencing these tax bills include the home's assessed value, the local tax rate, and any applicable exemptions or deductions. With a median home price of $81,370, Grant City's property tax rate is relatively moderate compared to the national median rate of 0.99%. This system ensures that property taxes are proportionate to the home's value, impacting homeowners by tying their tax obligations directly to property worth, which can fluctuate with the real estate market.
Average Grant City Tax Bill
$890
Average Harrison County Tax Bill
$480
Average Missouri Tax Bill
$1,606
Average United States Tax Bill
$2,690
Property Tax Bills Across Grant City, Missouri
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 64456 | $499 | $652 | $890 | $1,230 | $1,971 |
Source: Ownwell