Craig, Holt County, Missouri Property Taxes
The median property tax rate in Craig, MO is 1.40%, considerably higher than both the national median of 0.99% and Missouri's state median of 1.20%. With the median home value in Craig at $27,474, the typical annual property tax bill reaches $407, which is significantly lower than the national median of $2,690. Property taxes in Craig are calculated based on the tax assessed value, which often falls below the market value due to exemptions like the primary residence and agricultural exemptions. Understanding Craig'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 Craig 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
Craig, Holt County, Missouri Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.4%
Estimate Property Tax Bill
$385
$357
Ownwell’s Craig Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Craig with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Craig 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 Craig, Holt County, Missouri
Property taxes in Craig, Missouri, are vital in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Craig is 1.40%, higher than both the Missouri state median and the U.S. national median of 0.99%. Local government entities within Craig set these rates annually, and they can vary significantly across different neighborhoods. Each year, Craig 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 Craig's effective property tax rate to other counties in Missouri and the national median. For comparison, the 64437 zip code has the highest median property tax rate of 1.40%, while the 64437 zip code has the lowest median tax rate of 1.40%. Understanding how these cities compare with Craig provides valuable insights into the varying tax landscape across Holt County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Craig Tax Rate
1.40%
Average Holt County Tax Rate
1.18%
Average Missouri Tax Rate
1.20%
Average United States Tax Rate
0.99%
Property Tax Rates Across Craig, Holt County, Missouri
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 64437 | 1.06% | 1.29% | 1.40% | 1.53% | 2.02% |
Source: Ownwell
Property Tax Assessment Values Across Craig, Holt County, Missouri
In Craig, 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 Holt 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 Craig, 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 Craig 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 is 64437, with a median tax bill of $407.
Property Tax Assessment Values Across Craig, Holt County, Missouri
Source: Ownwell
$27,474
$41,946
$56,417
Average Craig Assessed Value
$27,474
Average Holt County Assessed Value
$42,789
Average Missouri Assessed Value
$129,505
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Craig, Holt County, Missouri
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 64437 | $5,011 | $12,342 | $27,474 | $74,206 | $129,152 |
Source: Ownwell
Property Tax Bills Across Craig, Holt County, Missouri
Property tax bills in Craig, located in Holt County, MO, are determined by assessing the property's market value and then applying the local tax rate. The median home price in Craig is $27,474, which provides a baseline for calculating property taxes. Factors such as property location, size, and improvements can influence the assessed value. Once the assessed value is established, the local tax rate is applied to determine the annual tax bill. For homeowners in Craig, property tax bills can vary significantly. The 25th percentile tax bill is $182, while the 75th percentile tax bill is $1,001. At the 90th percentile, tax bills can reach up to $1,746. These variations highlight the impact of property characteristics and local tax policies on individual tax obligations. Compared to the national median property tax rate of 0.99%, Craig's property tax bills reflect the local economic conditions and property values. Understanding these factors can help homeowners anticipate their annual tax responsibilities and plan accordingly.
Average Craig Tax Bill
$407
Average Holt County Tax Bill
$458
Average Missouri Tax Bill
$1,606
Average United States Tax Bill
$2,690
Property Tax Bills Across Craig, Holt County, Missouri
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 64437 | $78 | $182 | $407 | $1,001 | $1,746 |
Source: Ownwell