Chilhowee, Missouri Property Taxes
The median property tax rate in Chilhowee, MO is 0.92%, which is lower than both the national median of 0.99% and the Missouri state median of 1.20%. With the median home value in Chilhowee at $46,300, the typical annual property tax bill amounts to $430, significantly below the national median of $2,690. Property taxes in Chilhowee 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 Chilhowee'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 Chilhowee or another part of Henry County, understanding the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Chilhowee, Missouri Property Tax Bill Calculator
$100,000
$2,500,000
$5,000,000
Average Tax Rate
1.2%
Estimate Property Tax Bill
$2,400
Ownwell’s Chilhowee Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Chilhowee with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Chilhowee 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 Chilhowee, Missouri
Property taxes in Chilhowee, Missouri, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Chilhowee is 0.92%, lower than the U.S. national median of 0.99%. Local government entities within Chilhowee set these rates annually, and they can vary significantly across different neighborhoods. Each year, Chilhowee 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 Chilhowee's effective property tax rate to other counties in Missouri and the national median. For comparison, the 64733 zip code has the highest median property tax rate of 0.92%, while the 64733 zip code also has the lowest median tax rate of 0.92%. Understanding how these cities compare with Chilhowee provides valuable insights into the varying tax landscape across Henry County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Chilhowee Tax Rate
0.92%
Average Henry County Tax Rate
0.95%
Average Missouri Tax Rate
1.20%
Average United States Tax Rate
0.99%
Property Tax Rates Across Chilhowee, Missouri
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 64733 | 0.75% | 0.84% | 0.92% | 0.93% | 0.93% |
Source: Ownwell
Property Tax Assessment Values Across Chilhowee, Missouri
In Chilhowee, 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 Henry 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. 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 Chilhowee helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The median home price in Chilhowee is $46,300, with median tax bills ranging from $294 at the 25th percentile to $861 at the 90th percentile. The zip code with the highest and lowest median tax bill is 64733, both at $430.
Average Chilhowee Assessed Value
$46,300
Average Henry County Assessed Value
$36,250
Average Missouri Assessed Value
$129,505
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Chilhowee, Missouri
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 64733 | $20,510 | $34,675 | $46,300 | $60,450 | $111,410 |
Source: Ownwell
Property Tax Bills Across Chilhowee, Missouri
In Chilhowee, Henry 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 Chilhowee is $46,300. Property tax rates in this area are applied to the assessed value to determine the final tax bill. Several factors influence this calculation, including property size, location, and any applicable exemptions. For homeowners in Chilhowee, the property tax bills can vary significantly. At the 25th percentile, homeowners might pay around $294, while those at the 75th percentile could see bills up to $533. The 90th percentile reaches $861, indicating a wide range of tax liabilities depending on individual property assessments. The highest and lowest median tax bills in the area both stand at $430, which is below the national median property tax rate of 0.99%. These property taxes support local services and infrastructure, directly impacting the quality of life in the community.
Average Chilhowee Tax Bill
$430
Average Henry County Tax Bill
$369
Average Missouri Tax Bill
$1,606
Average United States Tax Bill
$2,690
Property Tax Bills Across Chilhowee, Missouri
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 64733 | $191 | $294 | $430 | $533 | $861 |
Source: Ownwell