Humphreys, Linn County, Missouri Property Taxes
The median property tax rate in Humphreys, MO, is 0.84%, which is lower than both the national median of 0.99% and the Missouri state median of 1.20%. With a median home value of $52,500 in Humphreys, the typical annual property tax bill amounts to $422, significantly less than the national median of $2,690. Property taxes in Humphreys are calculated based on the assessed value, which is often lower than the market value due to exemptions like primary residence and agricultural exemptions. Understanding Humphreys' property tax system, exploring available exemptions, and identifying opportunities for reductions can lead to substantial annual savings. Whether you're in the heart of Humphreys 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
Humphreys, Linn County, Missouri Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.84%
Estimate Property Tax Bill
$441
$409
Ownwell’s Humphreys Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Humphreys with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Humphreys 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 Humphreys, Linn County, Missouri
Property taxes in Humphreys, Missouri, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Humphreys is 0.84%, which is lower than both the Missouri state median and the U.S. national median of 0.99%. Local government entities within Humphreys set these rates annually, and they can vary significantly across different neighborhoods. Each year, Humphreys 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 Humphreys' effective property tax rate to other counties in Missouri and the national median. For comparison, the zip code 64646 has the highest median property tax rate of 0.84%, while the same zip code also has the lowest median tax rate of 0.84%. Understanding how these cities compare with Humphreys provides valuable insights into the varying tax landscape across Linn County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Humphreys Tax Rate
0.84%
Average Linn County Tax Rate
1.13%
Average Missouri Tax Rate
1.20%
Average United States Tax Rate
0.99%
Property Tax Rates Across Humphreys, Linn County, Missouri
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 64646 | 0.80% | 0.81% | 0.84% | 1.06% | 1.20% |
Source: Ownwell
Property Tax Assessment Values Across Humphreys, Linn County, Missouri
In Humphreys, 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 local 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 Humphreys, 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. The median home price in Humphreys is $52,500, with property tax bills ranging from $225 at the 25th percentile to $953 at the 90th percentile. Being aware of these valuation processes helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Property Tax Assessment Values Across Humphreys, Linn County, Missouri
Source: Ownwell
$9,900
$40,150
$70,400
Average Humphreys Assessed Value
$52,500
Average Linn County Assessed Value
$25,200
Average Missouri Assessed Value
$129,505
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Humphreys, Linn County, Missouri
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 64646 | $13,760 | $25,400 | $52,500 | $76,850 | $92,200 |
Source: Ownwell
Property Tax Bills Across Humphreys, Linn County, Missouri
In Humphreys, Missouri, property tax bills are determined by assessing the value of a home and applying the local tax rate to this assessed value. The median home price in Humphreys is $52,500. The tax bill can vary significantly depending on the assessed value and the specific tax rate applied by the county. For example, the tax bill at the 25th percentile is $225, while at the 75th percentile, it rises to $786, and at the 90th percentile, it reaches $953. The highest and lowest median tax bill in the area both stand at $422, indicating some level of consistency in certain parts of the county. These property tax bills impact homeowners by affecting their annual expenses and can influence decisions related to homeownership and property investments. Compared to the national median property tax rate of 0.99%, the rates in Humphreys may present a more affordable option for homeowners, making it an attractive location for those looking to manage their property tax obligations effectively.
Average Humphreys Tax Bill
$422
Average Linn County Tax Bill
$264
Average Missouri Tax Bill
$1,606
Average United States Tax Bill
$2,690
Property Tax Bills Across Humphreys, Linn County, Missouri
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 64646 | $189 | $225 | $422 | $786 | $953 |
Source: Ownwell