Cameron, Missouri Property Taxes
The median property tax rate in Cameron, MO is 0.86%, 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 $148,600 in Cameron, the typical annual property tax bill amounts to $1,283, well below the national median of $2,690. Property taxes in Cameron are calculated based on the tax assessed value, which generally falls below the market value due to exemptions like primary residence and agricultural exemptions. Understanding Cameron'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 Cameron 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
Cameron, Missouri Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.86%
Estimate Property Tax Bill
$1,278
Ownwell’s Cameron Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Cameron with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Cameron 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 Cameron, Missouri
Property taxes in Cameron, Missouri, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Cameron is 0.86%, which is lower than the U.S. national median of 0.99%. Local government entities within Cameron set these rates annually, and they can vary significantly across different neighborhoods. Each year, Cameron 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 Cameron's effective property tax rate to other counties in Missouri and the national median. For comparison, the zip code 64429 has the highest median property tax rate of 0.86%, while the same zip code 64429 also has the lowest median tax rate of 0.86%. Understanding how these cities compare with Cameron provides valuable insights into the varying tax landscape across Clinton County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Cameron Tax Rate
0.86%
Average Morgan County Tax Rate
0.87%
Average Missouri Tax Rate
1.20%
Average United States Tax Rate
0.99%
Property Tax Rates Across Cameron, Missouri
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 64429 | 0.86% | 0.86% | 0.86% | 0.86% | 0.86% |
Source: Ownwell
Property Tax Assessment Values Across Cameron, Missouri
In Cameron, 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 Cameron, 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 Cameron helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The highest and lowest median tax bills in Cameron are both $1,283, found in the zip code 64429.
Average Cameron Assessed Value
$148,600
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 Cameron, Missouri
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 64429 | $148,600 | $148,600 | $148,600 | $148,600 | $148,600 |
Source: Ownwell
Property Tax Bills Across Cameron, Missouri
In Cameron, located in Morgan County, MO, property tax bills are determined based on the assessed value of a home. The assessed value is typically a percentage of the property's market value, which is determined by the county assessor. Once the assessed value is established, the local tax rate, set by various taxing authorities, is applied to calculate the tax bill. For homeowners in Cameron, the median home price is $148,600, and property tax bills tend to be consistent, with the 25th, 75th, and 90th percentiles all reporting a tax bill of $1,283. This figure is notably higher than the national median property tax rate of 0.99%, indicating a relatively higher property tax burden in this region. The consistency in tax bills suggests a uniform approach to property valuation and tax rate application. For homeowners, understanding these factors is crucial as they directly impact annual expenses and overall affordability of owning property in Cameron.
Average Cameron Tax Bill
$1,283
Average Morgan County Tax Bill
$420
Average Missouri Tax Bill
$1,606
Average United States Tax Bill
$2,690
Property Tax Bills Across Cameron, Missouri
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 64429 | $1,283 | $1,283 | $1,283 | $1,283 | $1,283 |
Source: Ownwell