Cross Timbers, Missouri Property Taxes
The median property tax rate in Cross Timbers, MO is 0.68%, which is significantly lower than both the national median of 0.99% and the Missouri state median of 1.20%. Given the median home value in Cross Timbers is $27,890, the typical annual property tax bill amounts to $187, far below the national median of $2,690. Property taxes in Cross Timbers are calculated based on the assessed value, which is often lower than the market value due to exemptions like those for primary residences and agricultural properties. Understanding Cross Timbers' property tax system, exploring available exemptions, and identifying opportunities for reductions can lead to substantial annual savings. Whether you're in the heart of Cross Timbers or another part of the city, grasping the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Cross Timbers, Missouri Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.68%
Estimate Property Tax Bill
$190
Ownwell’s Cross Timbers Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Cross Timbers with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Cross Timbers 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 Cross Timbers, Missouri
Property taxes in Cross Timbers, Missouri, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Cross Timbers is 0.68%, which is below the U.S. national median of 0.99%. Local government entities within Cross Timbers set these rates annually, and they can vary significantly across different neighborhoods. Each year, Cross Timbers 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 Cross Timbers' effective property tax rate to other counties in Missouri and the national median. For comparison, the 65634 zip code has both the highest and lowest median property tax rate of 0.68%. Understanding how these areas compare with Cross Timbers provides valuable insights into the varying tax landscape across Hickory County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Cross Timbers Tax Rate
0.68%
Average Hickory County Tax Rate
0.74%
Average Missouri Tax Rate
1.20%
Average United States Tax Rate
0.99%
Property Tax Rates Across Cross Timbers, Missouri
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 65634 | 0.43% | 0.59% | 0.68% | 0.76% | 0.83% |
Source: Ownwell
Property Tax Assessment Values Across Cross Timbers, Missouri
In Cross Timbers, 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 Hickory 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 Cross Timbers, 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. For instance, in the 65634 zip code, the median tax bill is $187. 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 Cross Timbers helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Cross Timbers Assessed Value
$27,890
Average Hickory County Assessed Value
$25,410
Average Missouri Assessed Value
$129,505
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Cross Timbers, Missouri
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 65634 | $14,280 | $21,060 | $27,890 | $55,560 | $113,540 |
Source: Ownwell
Property Tax Bills Across Cross Timbers, Missouri
Property tax bills in Cross Timbers, located in Hickory County, MO, are determined by assessing the property's market value and applying the local tax rate. The assessed value is a percentage of the market value, which is then multiplied by the tax rate to calculate the annual tax bill. For instance, with a median home price of $27,890, homeowners can expect varying tax bills depending on their property's assessed value and the specific tax rate applied. Factors such as property improvements, neighborhood changes, and market conditions can influence the assessed value, leading to fluctuations in tax bills. In Cross Timbers, the tax bill ranges significantly, with the 25th percentile at $122 and the 75th percentile at $371, showing a broad spectrum of what homeowners might owe. At the 90th percentile, the tax bill can reach up to $686. This variation underscores how property taxes can impact homeowners differently, depending on their specific property assessments and the prevailing tax rates in their locality.
Average Cross Timbers Tax Bill
$187
Average Hickory County Tax Bill
$177
Average Missouri Tax Bill
$1,606
Average United States Tax Bill
$2,690
Property Tax Bills Across Cross Timbers, Missouri
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 65634 | $59 | $122 | $187 | $371 | $686 |
Source: Ownwell