Brashear, Missouri Property Taxes
The median property tax rate in Brashear, MO is 0.70%, which is significantly lower than both the national median of 0.99% and the Missouri state median of 1.20%. With the median home value in Brashear at $33,180, the typical annual property tax bill is around $311, far below the national median of $2,690. Property taxes in Brashear are calculated based on the tax assessed value, often lower than the market value due to exemptions such as primary residence and agricultural exemptions. Navigating Brashear's property tax system, exploring available exemptions, and identifying opportunities for reductions can result in substantial annual savings. Whether you're in the heart of Brashear or another part of the city, understanding the local property tax system is advantageous for both homeowners and real estate investors.
Last Updated June 14, 2024
Brashear, 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 Brashear Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Brashear with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Brashear 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 Brashear, Missouri
Property taxes in Brashear, Missouri, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Brashear is 0.70%, which is lower than the U.S. national median of 0.99%. Local government entities within Brashear set these rates annually, and they can vary significantly across different neighborhoods. Each year, Brashear 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 Brashear's effective property tax rate to other areas in Missouri and the national median. For comparison, the zip code 63533 has the highest median property tax rate of 0.70%, while the same zip code also has the lowest median tax rate of 0.70%. Understanding how these rates compare with Brashear provides valuable insights into the varying tax landscape across Knox County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Brashear Tax Rate
0.70%
Average Knox County Tax Rate
0.72%
Average Missouri Tax Rate
1.20%
Average United States Tax Rate
0.99%
Property Tax Rates Across Brashear, Missouri
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 63533 | 0.69% | 0.69% | 0.70% | 1.04% | 1.10% |
Source: Ownwell
Property Tax Assessment Values Across Brashear, Missouri
In Brashear, 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 Knox 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 Brashear, 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 Brashear helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. Notably, the highest and lowest median tax bills are both $311 in the 63533 zip code.
Average Brashear Assessed Value
$33,180
Average Knox County Assessed Value
$29,820
Average Missouri Assessed Value
$129,505
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Brashear, Missouri
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 63533 | $6,852 | $15,430 | $33,180 | $59,800 | $106,162 |
Source: Ownwell
Property Tax Bills Across Brashear, Missouri
In Brashear, Knox 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 home's market value, and this percentage can vary depending on local regulations. Once the assessed value is established, the tax rate set by local taxing authorities is applied to determine the tax bill. For homeowners in Brashear, the median home price is $33,180. Property tax bills can vary significantly, with the 25th percentile at $144 and the 75th percentile at $563, while the 90th percentile reaches up to $953. These figures highlight the range of property tax burdens that homeowners might face. When compared to the national median property tax rate of 0.99%, the local rates in Brashear can result in relatively lower tax bills, providing some financial relief for homeowners. However, the exact impact on individual homeowners will depend on the specific assessed value of their property and the applicable local tax rate.
Average Brashear Tax Bill
$311
Average Knox County Tax Bill
$245
Average Missouri Tax Bill
$1,606
Average United States Tax Bill
$2,690
Property Tax Bills Across Brashear, Missouri
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 63533 | $62 | $144 | $311 | $563 | $953 |
Source: Ownwell