Barnett, Missouri Property Taxes
The median property tax rate in Barnett, MO is 1.06%, slightly higher than the national median of 0.99% but lower than the Missouri state median of 1.20%. With the median home value in Barnett at $103,700, the typical annual property tax bill amounts to $1,467, which is below the national median of $2,690. Property taxes in Barnett are calculated based on the tax assessed value, often lower than the market value due to exemptions like the primary residence and agricultural exemptions. Understanding Barnett'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 Barnett or another part of the city, familiarizing yourself with the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Barnett, 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 Barnett Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Barnett with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Barnett 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 Barnett, Missouri
Property taxes in Barnett, Missouri, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Barnett is 0.96%, which is lower than both the Missouri state median of 1.04% and the U.S. national median of 0.99%. Local government entities within Barnett set these rates annually, and they can vary significantly across different neighborhoods. Each year, Barnett 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 Barnett's effective property tax rate to other counties in Missouri and the national median. For comparison, 65011 has the highest median property tax rate of 1.06%, while 65011 also has the lowest median tax rate of 1.06%. Understanding how these cities compare with Barnett provides valuable insights into the varying tax landscape across Moniteau County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Barnett Tax Rate
1.06%
Average Moniteau County Tax Rate
1.03%
Average Missouri Tax Rate
1.20%
Average United States Tax Rate
0.99%
Property Tax Rates Across Barnett, Missouri
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 65011 | 0.86% | 0.97% | 1.06% | 1.16% | 4.89% |
Source: Ownwell
Property Tax Assessment Values Across Barnett, Missouri
In Barnett, 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 Moniteau 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 Barnett, 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 Barnett helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The highest median tax bill in the area is in zip code 65011, amounting to $1,467, while the lowest is also in the same zip code.
Average Barnett Assessed Value
$103,700
Average Moniteau County Assessed Value
$88,800
Average Missouri Assessed Value
$129,505
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Barnett, Missouri
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 65011 | $44,570 | $78,250 | $103,700 | $165,200 | $197,420 |
Source: Ownwell
Property Tax Bills Across Barnett, Missouri
In Barnett, located in Moniteau County, MO, property tax bills are calculated based on the assessed value of a home, which is a percentage of its market value. The local tax rate is then applied to this assessed value to determine the tax bill. For example, with a median home price of $103,700, the tax bill varies significantly. Homeowners at the 25th percentile pay around $1,010, while those at the 75th percentile see bills closer to $1,866. The 90th percentile tax bill can reach up to $4,955, illustrating the wide range of potential tax burdens. Several factors influence these calculations, including property location, assessed value, and local tax rates. The highest and lowest median tax bills in the area are both $1,467, indicating some uniformity in certain zones. These property taxes directly affect homeowners by influencing their annual expenses and, consequently, their overall financial planning. Compared to the national median property tax rate of 0.99%, Barnett's tax rates can significantly impact household budgets.
Average Barnett Tax Bill
$1,467
Average Moniteau County Tax Bill
$1,018
Average Missouri Tax Bill
$1,606
Average United States Tax Bill
$2,690
Property Tax Bills Across Barnett, Missouri
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 65011 | $556 | $1,010 | $1,467 | $1,866 | $4,955 |
Source: Ownwell