Higginsville, Missouri Property Taxes
The median property tax rate in Higginsville, MO is 1.09%, slightly higher than the national median of 0.99% but lower than Missouri's state median of 1.20%. With the median home value in Higginsville at $114,652, the typical annual property tax bill amounts to $1,263, which is below the national median of $2,690. Property taxes in Higginsville are based on the tax assessed value, often lower than the market value due to exemptions such as primary residence and agricultural exemptions. Understanding Higginsville'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 Higginsville or another part of the city, comprehending the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Higginsville, Missouri Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.09%
Estimate Property Tax Bill
$1,250
Ownwell’s Higginsville Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Higginsville with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Higginsville 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 Higginsville, Missouri
Property taxes in Higginsville, Missouri, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Higginsville is 1.09%, which is higher than the U.S. national median of 0.99%. Local government entities within Higginsville set these rates annually, and they can vary significantly across different neighborhoods. Each year, Higginsville 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 Higginsville's effective property tax rate to other areas in Missouri and the national median. For comparison, the zip code 64037 has both the highest and lowest median property tax rate of 1.09%. Understanding how these areas compare with Higginsville provides valuable insights into the varying tax landscape across Johnson County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Higginsville Tax Rate
1.09%
Average Johnson County Tax Rate
1.24%
Average Missouri Tax Rate
1.20%
Average United States Tax Rate
0.99%
Property Tax Rates Across Higginsville, Missouri
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 64037 | 1.01% | 1.04% | 1.09% | 1.15% | 1.18% |
Source: Ownwell
Property Tax Assessment Values Across Higginsville, Missouri
In Higginsville, 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 Johnson 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. In Higginsville, 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 Higginsville helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. In Higginsville, the median home price is $114,652. The median property tax bill ranges from $1,163 at the 25th percentile to $1,363 at the 75th percentile, with the highest median tax bill being $1,422. The zip code 64037 has both the highest and lowest median tax bills at $1,263.
Average Higginsville Assessed Value
$114,652
Average Johnson County Assessed Value
$74,883
Average Missouri Assessed Value
$129,505
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Higginsville, Missouri
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 64037 | $108,742 | $110,958 | $114,652 | $118,346 | $120,562 |
Source: Ownwell
Property Tax Bills Across Higginsville, Missouri
In Higginsville, located in Johnson County, MO, property tax bills are calculated based on the assessed value of a property, which is a percentage of its market value. The assessed value is then multiplied by the local tax rate to determine the annual tax bill. For example, with a median home price of $114,652, homeowners can expect varying tax bills depending on their property's assessed value and specific tax rate within the county. The tax bill can range significantly, with the 25th percentile at $1,163 and the 75th percentile at $1,363. At the higher end, the 90th percentile tax bill is $1,422. These figures highlight how property taxes can fluctuate based on different assessments and rates. Comparatively, the national median property tax rate is 0.99%, which helps put these local figures into perspective. For homeowners in Higginsville, understanding these factors is crucial as property taxes can impact their annual budget and long-term financial planning. Accurate assessments and awareness of local tax rates are essential for anticipating tax liabilities.
Average Higginsville Tax Bill
$1,263
Average Johnson County Tax Bill
$947
Average Missouri Tax Bill
$1,606
Average United States Tax Bill
$2,690
Property Tax Bills Across Higginsville, Missouri
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 64037 | $1,103 | $1,163 | $1,263 | $1,363 | $1,422 |
Source: Ownwell