Halltown, Missouri Property Taxes
The median property tax rate in Halltown, MO is 0.98%, slightly below the national median of 0.99% and significantly lower than the Missouri state median of 1.20%. With a median home value of $28,737 in Halltown, the typical annual property tax bill is $283, which is considerably less than the national median of $2,690. Property taxes in Halltown are calculated based on the tax assessed value, which is often lower than the market value due to exemptions such as those for primary residences and agricultural properties. Understanding Halltown'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 Halltown 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
Halltown, Missouri Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.98%
Estimate Property Tax Bill
$282
Ownwell’s Halltown Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Halltown with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Halltown 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 Halltown, Missouri
Property taxes in Halltown, Missouri, play an essential role in funding critical local services, including public schools, road maintenance, and emergency services. The median tax rate in Halltown is 0.98%, slightly lower than the U.S. national median of 0.99%. Local government entities within Halltown set these rates annually, and they can vary significantly across different neighborhoods. Each year, Halltown 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 Halltown's effective property tax rate to other areas in Lawrence County and the national median. For comparison, the 65664 zip code has both the highest and lowest median property tax rate of 0.98%. Understanding how these areas compare with Halltown provides valuable insights into the varying tax landscape across Lawrence County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Halltown Tax Rate
0.98%
Average Lawrence County Tax Rate
0.92%
Average Missouri Tax Rate
1.20%
Average United States Tax Rate
0.99%
Property Tax Rates Across Halltown, Missouri
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 65664 | 0.85% | 0.91% | 0.98% | 0.99% | 0.99% |
Source: Ownwell
Property Tax Assessment Values Across Halltown, Missouri
In Halltown, 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 Lawrence 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 Halltown, 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 Halltown helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The zip code with the highest median tax bill is 65664, with a bill of $283.00, while the lowest median tax bill is also in zip code 65664, with the same value.
Average Halltown Assessed Value
$28,737
Average Lawrence County Assessed Value
$87,220
Average Missouri Assessed Value
$129,505
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Halltown, Missouri
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 65664 | $14,285 | $21,178 | $28,737 | $57,152 | $151,255 |
Source: Ownwell
Property Tax Bills Across Halltown, Missouri
In Halltown, property tax bills are calculated based on the assessed value of a home, which is determined by the Lawrence County Assessor's Office. The assessed value is a percentage of the market value of the property. Once the assessed value is established, the local tax rate is applied to calculate the annual tax bill. For Halltown, the median home price is $28,737, and tax bills can vary significantly. For example, the 25th percentile tax bill is $182, while the 75th percentile tax bill is $516. At the 90th percentile, homeowners could see tax bills as high as $1,446. These tax bills are influenced by various factors including the property's location, improvements, and any applicable exemptions. The tax burden can impact homeowners by affecting their annual financial planning and potentially influencing decisions on property improvements or sales. Compared to the national median property tax rate of 0.99%, Halltown offers relatively lower property tax rates, making it an attractive option for homeowners seeking affordability.
Average Halltown Tax Bill
$283
Average Lawrence County Tax Bill
$784
Average Missouri Tax Bill
$1,606
Average United States Tax Bill
$2,690
Property Tax Bills Across Halltown, Missouri
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 65664 | $123 | $182 | $283 | $516 | $1,446 |
Source: Ownwell