Mooresville, Missouri Property Taxes
The median property tax rate in Mooresville, MO is 1.10%, which is higher than the national median of 0.99% but lower than Missouri's state median of 1.20%. With the median home value in Mooresville at $46,090, the typical annual property tax bill amounts to $505, significantly below the national median of $2,690. Property taxes in Mooresville are calculated based on the tax assessed value, which often falls below the market value due to exemptions such as those for primary residences and agricultural properties. Understanding Mooresville's property tax system, exploring available exemptions, and identifying opportunities for reductions can lead to substantial annual savings. Whether you're in the heart of Mooresville or another part of Livingston County, grasping the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Mooresville, Missouri Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.1%
Estimate Property Tax Bill
$507
Ownwell’s Mooresville Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Mooresville with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Mooresville 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 Mooresville, Missouri
Property taxes in Mooresville, Missouri, are vital in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Mooresville is 1.10%, higher than both the Missouri state median and the U.S. national median of 0.99%. Local government entities within Mooresville set these rates annually, and they can vary significantly across different neighborhoods. Each year, Mooresville 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 Mooresville's effective property tax rate to other counties in Missouri and the national median. For comparison, the 64664 zip code has the highest median property tax rate of 1.10%, while the same zip code also has the lowest median tax rate of 1.10%. Understanding how these cities compare with Mooresville provides valuable insights into the varying tax landscape across Livingston County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Mooresville Tax Rate
1.10%
Average Livingston County Tax Rate
1.26%
Average Missouri Tax Rate
1.20%
Average United States Tax Rate
0.99%
Property Tax Rates Across Mooresville, Missouri
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 64664 | 0.84% | 0.94% | 1.10% | 1.27% | 1.35% |
Source: Ownwell
Property Tax Assessment Values Across Mooresville, Missouri
In Mooresville, 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 Livingston County Assessor's Office 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 Mooresville, 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. Mooresville's property tax bills range significantly, with the 25th percentile at $259 and the 90th percentile reaching $1,617. Being aware of these valuation processes helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Mooresville Assessed Value
$46,090
Average Livingston County Assessed Value
$65,985
Average Missouri Assessed Value
$129,505
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Mooresville, Missouri
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 64664 | $10,818 | $23,750 | $46,090 | $93,900 | $167,518 |
Source: Ownwell
Property Tax Bills Across Mooresville, Missouri
In Mooresville, Livingston County, MO, property tax bills are calculated based on the assessed value of the home. The assessed value is a percentage of the market value, which is then multiplied by the local tax rate. For instance, with a median home price of $46,090, homeowners can expect varying tax bills depending on their property's assessed value and the specific tax rate applied. Factors such as property location, size, and improvements can influence the assessed value. In Mooresville, the tax bill ranges significantly, from the 25th percentile at $259 to the 90th percentile at $1,617, reflecting the diversity in property values and conditions. These property taxes fund essential local services, including schools, public safety, and infrastructure, making them a crucial part of community development. Homeowners must budget for these taxes, as they can impact overall housing affordability. The highest median tax bill in the area is $505, indicating a relatively moderate tax burden compared to the national median property tax rate of 0.99%.
Average Mooresville Tax Bill
$505
Average Livingston County Tax Bill
$794
Average Missouri Tax Bill
$1,606
Average United States Tax Bill
$2,690
Property Tax Bills Across Mooresville, Missouri
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 64664 | $128 | $259 | $505 | $1,043 | $1,617 |
Source: Ownwell