Calumet City, Missouri Property Taxes
The median property tax rate in Calumet City, MO is 3.20%, significantly higher than both the national median of 0.99% and the Missouri state median of 1.20%. With the median home value in Calumet City, the typical annual property tax bill reaches $35, which is quite low compared to the national median of $2,690. Property taxes in Calumet City are calculated based on the tax assessed value, which typically falls below the market value due to various exemptions like the primary residence and agricultural exemptions. Understanding Calumet City'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 Calumet City or another part of the city, understanding the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Calumet City, Missouri Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
3.2%
Estimate Property Tax Bill
$35
Ownwell’s Calumet City Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Calumet City with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Calumet City 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 Calumet City, Missouri
Property taxes in Calumet City, Missouri, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Calumet City is 3.20%, significantly higher than both the Missouri state median and the U.S. national median of 0.99%. Local government entities within Calumet City set these rates annually, and they can vary significantly across different neighborhoods. Each year, Calumet City 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. Understanding how these cities compare with Calumet City 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 Calumet City Tax Rate
3.20%
Average Morgan County Tax Rate
0.87%
Average Missouri Tax Rate
1.20%
Average United States Tax Rate
0.99%
Property Tax Rates Across Calumet City, Missouri
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
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Source: Ownwell
Property Tax Assessment Values Across Calumet City, Missouri
In Calumet City, 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. In Calumet City, 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 Calumet City helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Calumet City Assessed Value
$1,100
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 Calumet City, Missouri
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|
Source: Ownwell
Property Tax Bills Across Calumet City, Missouri
In Calumet City, Morgan County, MO, property tax bills are determined based on the assessed value of a property, which is a percentage of its market value. The local tax rate is applied to this assessed value to calculate the annual property tax bill. Homeowners in Calumet City can expect their property tax bills to be influenced by several factors, including the property's assessed value, local tax rates, and any applicable exemptions or deductions. The median home price in Calumet City is $1,100, with property tax bills at the 25th, 75th, and 90th percentiles all being $35. This indicates a relatively uniform tax burden across different property values. Compared to the national median property tax rate of 0.99%, Calumet City's property tax rate results in a lower tax bill for homeowners. This lower tax burden can make homeownership more affordable, potentially attracting new residents and fostering community growth. However, homeowners should stay informed about any changes in property assessments or local tax rates, as these can impact their annual tax obligations.
Average Calumet City Tax Bill
$35
Average Morgan County Tax Bill
$420
Average Missouri Tax Bill
$1,606
Average United States Tax Bill
$2,690
Property Tax Bills Across Calumet City, Missouri
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
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Source: Ownwell