Herculaneum, Missouri Property Taxes
The median property tax rate in Herculaneum, MO is 1.21%, slightly higher than both the national median of 0.99% and Missouri's state median of 1.20%. With the median home value in Herculaneum at $172,900, the typical annual property tax bill reaches $1,927, which is below the national median of $2,690. Property taxes in Herculaneum are calculated based on the tax assessed value, often lower than the market value due to exemptions such as primary residence and agricultural exemptions. Gaining a thorough understanding of Herculaneum'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 Herculaneum or another part of Jefferson County, being well-versed in the local property tax system benefits both homeowners and real estate investors.
Last Updated June 14, 2024
Herculaneum, 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 Herculaneum Property Tax Bill Calculator assists homeowners, real estate investors, and potential buyers in estimating their annual property taxes in Herculaneum using just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Herculaneum to estimate your property tax bill. This insightful tool helps you understand potential tax liabilities. For those interested in observing trends on a neighborhood level, scroll down to find more localized information. Your property’s assessed value is the value assigned by Jefferson County for property tax calculations, accounting for any exemptions that may apply.
Property Tax Rates Across Herculaneum, Missouri
Property taxes in Herculaneum, Missouri, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Herculaneum is 1.21%, which is higher than both the Missouri state median and the U.S. national median of 0.99%. Local government entities within Herculaneum set these rates annually, and they can vary significantly across different neighborhoods. Each year, Herculaneum 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 Herculaneum's effective property tax rate to other counties in Missouri and the national median. For comparison, the 63048 zip code has both the highest and lowest median property tax rate of 1.21%. Understanding how these cities compare with Herculaneum provides valuable insights into the varying tax landscape across Jefferson County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Herculaneum Tax Rate
1.21%
Average Jefferson County Tax Rate
1.33%
Average Missouri Tax Rate
1.20%
Average United States Tax Rate
0.99%
Property Tax Rates Across Herculaneum, Missouri
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 63048 | 1.08% | 1.10% | 1.21% | 1.22% | 1.23% |
Source: Ownwell
Property Tax Assessment Values Across Herculaneum, Missouri
In Herculaneum, 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 Jefferson 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 Herculaneum, 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 Herculaneum helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The median home price in Herculaneum is $172,900, with the 25th percentile tax bill at $1,305 and the 75th percentile at $2,433. The highest and lowest median tax bills are both $1,927 in the zip code 63048.
Average Herculaneum Assessed Value
$172,900
Average Jefferson County Assessed Value
$133,600
Average Missouri Assessed Value
$129,505
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Herculaneum, Missouri
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 63048 | $73,380 | $115,400 | $172,900 | $216,400 | $248,040 |
Source: Ownwell
Property Tax Bills Across Herculaneum, Missouri
In Herculaneum, located in Jefferson County, MO, property tax bills are calculated based on the assessed value of a home, which is determined by the county assessor. The assessed value is a percentage of the market value, and this figure is then multiplied by the local tax rate to determine the final tax bill. For homeowners in Herculaneum, the median home price stands at $172,900, and property tax bills can vary significantly. For instance, the 25th percentile tax bill is $1,305, while the 75th percentile tax bill reaches $2,433, and the 90th percentile tax bill is $2,779. These tax bills impact homeowners by influencing their annual budgeting and long-term financial planning. The local tax rate in Herculaneum is relatively moderate compared to the national median property tax rate of 0.99%. However, even within the same zip code, tax bills can vary, as seen with the highest and lowest median tax bills both being $1,927 in the 63048 zip code. Understanding these factors helps homeowners better anticipate their property tax obligations.
Average Herculaneum Tax Bill
$1,927
Average Jefferson County Tax Bill
$1,729
Average Missouri Tax Bill
$1,606
Average United States Tax Bill
$2,690
Property Tax Bills Across Herculaneum, Missouri
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 63048 | $875 | $1,305 | $1,927 | $2,433 | $2,779 |
Source: Ownwell