Barnett, Morgan County, Missouri Property Taxes
The median property tax rate in Barnett, MO is 0.90%, which is notably lower than both the national median of 0.99% and the Missouri state median of 1.20%. With a median home value of $92,450 in Barnett, the typical annual property tax bill amounts to $770, significantly 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 various exemptions such as 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 Morgan County, understanding the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Barnett, Morgan County, Missouri Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.9%
Estimate Property Tax Bill
$832
$772
Ownwell’s Barnett Property Tax Bill Calculator assists homeowners, real estate investors, and potential buyers in estimating their annual property taxes in Barnett with just two data points. By entering your property's estimated assessed value, the calculator uses the median tax rate in Barnett to provide an accurate estimate of your property tax bill. This valuable tool helps you understand potential tax liabilities. For those interested in more localized information, trends at the neighborhood level are also available. Your property’s assessed value, assigned by the county for property tax calculations, includes any applicable exemptions.
Property Tax Rates Across Barnett, Morgan County, 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 0.90%, which is below 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 areas in Morgan County and the national median. For comparison, the zip code 65011 has both the highest and lowest median property tax rate of 0.90%. Understanding how these cities compare with Barnett provides valuable insights into the varying tax landscape across Morgan County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Barnett Tax Rate
0.90%
Average Morgan County Tax Rate
0.87%
Average Missouri Tax Rate
1.20%
Average United States Tax Rate
0.99%
Property Tax Rates Across Barnett, Morgan County, Missouri
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 65011 | 0.71% | 0.77% | 0.90% | 0.96% | 1.11% |
Source: Ownwell
Property Tax Assessment Values Across Barnett, Morgan County, 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 Morgan 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. 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 Barnett is $92,450, with tax bills ranging from $335 at the 25th percentile to $2,215 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 Barnett, Morgan County, Missouri
Source: Ownwell
$1,750
$74,875
$148,000
Average Barnett Assessed Value
$92,450
Average Morgan County Assessed Value
$49,350
Average Missouri Assessed Value
$129,505
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Barnett, Morgan County, Missouri
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 65011 | $14,130 | $38,750 | $92,450 | $167,625 | $261,230 |
Source: Ownwell
Property Tax Bills Across Barnett, Morgan County, Missouri
In Barnett, MO, property tax bills are calculated based on the assessed value of a home, which is determined by the local assessor's office. The assessed value is a percentage of the market value of the property, and this figure is then multiplied by the local property tax rate. In Barnett, the median home price stands at $92,450. Homeowners in Barnett experience a range of property tax bills. For example, at the 25th percentile, the tax bill is around $335, while at the 75th percentile, it rises to approximately $1,395. Those in the 90th percentile can see bills as high as $2,215. These tax bills significantly impact homeowners, as they are a recurring expense that must be budgeted for annually. Compared to the national median property tax rate of 0.99%, Barnett's property taxes can vary widely, affecting affordability and financial planning for residents. The highest and lowest median tax bills in the area both stand at $770, highlighting some consistency in certain zip codes.
Average Barnett Tax Bill
$770
Average Morgan County Tax Bill
$420
Average Missouri Tax Bill
$1,606
Average United States Tax Bill
$2,690
Property Tax Bills Across Barnett, Morgan County, Missouri
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 65011 | $124 | $335 | $770 | $1,395 | $2,215 |
Source: Ownwell