Clinton, Missouri Property Taxes
The median property tax rate in Clinton, MO is 2.32%, significantly higher than both the national median of 0.99% and the Missouri state median of 1.20%. With the median home value in Clinton, the typical annual property tax bill reaches $41, which is considerably lower than the national median of $2,690. Property taxes in Clinton are calculated based on the tax assessed value, which often falls below the market value due to various exemptions like the primary residence and agricultural exemptions. Understanding Clinton'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 Clinton 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
Clinton, 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 Clinton Property Tax Bill Calculator empowers homeowners, real estate investors, and potential buyers to estimate their annual property taxes in Clinton with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Clinton to provide an accurate estimate of your property tax bill. This valuable tool helps you understand potential tax liabilities and plan accordingly. For those interested in more granular insights, you can find neighborhood-level trends by scrolling down. Your property’s assessed value is determined by the county for property tax purposes, taking into account any applicable exemptions.
Property Tax Rates Across Clinton, Missouri
Property taxes in Clinton, Missouri, are essential for funding crucial local services such as public schools, road maintenance, and emergency services. The median tax rate in Clinton is 1.20%, higher than both the Missouri state median of 0.91% and the U.S. national median of 0.99%. Local government entities within Clinton set these rates annually, and they can vary significantly across different neighborhoods. Each year, Clinton 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 Clinton's effective property tax rate to other counties in Missouri and the national median. For comparison, the zip code 64735 has the highest median property tax rate of 1.20%, while the same zip code also has the lowest median tax rate of 1.20%. Understanding how these cities compare with Clinton 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 Clinton Tax Rate
2.32%
Average Morgan County Tax Rate
0.87%
Average Missouri Tax Rate
1.20%
Average United States Tax Rate
0.99%
Property Tax Rates Across Clinton, Missouri
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 64735 | 2.20% | 2.24% | 2.32% | 2.39% | 2.44% |
Source: Ownwell
Property Tax Assessment Values Across Clinton, Missouri
In Clinton, 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 Henry County Assessor 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 Clinton, 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 Clinton helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Clinton Assessed Value
$1,800
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 Clinton, Missouri
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 64735 | $1,640 | $1,700 | $1,800 | $1,900 | $1,960 |
Source: Ownwell
Property Tax Bills Across Clinton, Missouri
In Clinton, located in Morgan County, MO, property tax bills are calculated based on the assessed value of a property, which is determined by the county assessor. The assessed value is a percentage of the property's market value. Factors such as the property's location, size, and condition play a significant role in determining its market value. Once the assessed value is established, the local tax rate is applied to calculate the annual property tax bill. Homeowners in Clinton can expect their property tax bills to vary. For instance, the tax bill at the 25th percentile is $40, while at the 75th percentile, it rises to $42, and at the 90th percentile, it reaches $43. These variations depend on the assessed value of the property and the applicable tax rates. Compared to the national median property tax rate of 0.99%, homeowners in Clinton benefit from relatively low property tax bills, making it an attractive location for property ownership. This system ensures that property taxes are equitable and reflective of the property's value.
Average Clinton Tax Bill
$41
Average Morgan County Tax Bill
$420
Average Missouri Tax Bill
$1,606
Average United States Tax Bill
$2,690
Property Tax Bills Across Clinton, Missouri
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 64735 | $40 | $40 | $41 | $42 | $43 |
Source: Ownwell