Cole Camp, Missouri Property Taxes
The median property tax rate in Cole Camp, MO is 0.89%, which is lower than both the national median of 0.99% and the Missouri state median of 1.20%. With the median home value in Cole Camp, the typical annual property tax bill is $168, significantly below the national median of $2,690. Property taxes in Cole Camp are calculated based on the tax assessed value, which often falls below the market value due to various exemptions such as primary residence and agricultural exemptions. Understanding Cole Camp's property tax system, exploring available exemptions, and identifying opportunities for reductions can lead to substantial annual savings. Whether you're in the heart of Cole Camp 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
Cole Camp, Missouri Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.89%
Estimate Property Tax Bill
$156
Ownwell’s Cole Camp Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Cole Camp with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Cole Camp 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 Cole Camp, Missouri
Property taxes in Cole Camp, Missouri, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Cole Camp is 0.89%, which is lower than the U.S. national median of 0.99%. Local government entities within Cole Camp set these rates annually, and they can vary significantly across different neighborhoods. Each year, Cole Camp 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 Cole Camp's effective property tax rate to other areas in Missouri and the national median. For comparison, the zip code 65325 has both the highest and lowest median property tax rate of 0.89%. Understanding how these cities compare with Cole Camp 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 Cole Camp Tax Rate
0.89%
Average Morgan County Tax Rate
0.87%
Average Missouri Tax Rate
1.20%
Average United States Tax Rate
0.99%
Property Tax Rates Across Cole Camp, Missouri
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 65325 | 0.80% | 0.83% | 0.89% | 1.12% | 2.07% |
Source: Ownwell
Property Tax Assessment Values Across Cole Camp, Missouri
In Cole Camp, 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 local 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 Cole Camp, 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 highest and lowest median tax bills in Cole Camp are both $168.00, found in the 65325 zip code. Being aware of these valuation processes helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Cole Camp Assessed Value
$17,500
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 Cole Camp, Missouri
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 65325 | $1,920 | $3,600 | $17,500 | $56,800 | $130,360 |
Source: Ownwell
Property Tax Bills Across Cole Camp, Missouri
In Cole Camp, property tax bills are calculated based on the assessed value of a property, which is determined by the local tax assessor. The assessed value is a percentage of the property's market value, which is then multiplied by the local tax rate. For instance, in Morgan County, the median home price is $17,500. Homeowners in Cole Camp can expect tax bills to vary significantly, with the 25th percentile paying around $46 and the 75th percentile paying up to $471. The 90th percentile sees tax bills as high as $1,044. Several factors influence the tax bill, including the property's location, improvements, and any applicable exemptions. Compared to the national median property tax rate of 0.99%, Cole Camp offers a more affordable tax environment, which can make homeownership more appealing. However, homeowners must stay informed about changes in assessed values and tax rates, as these directly impact their annual tax obligations. This ensures they are prepared for any fluctuations in their property tax bills.
Average Cole Camp Tax Bill
$168
Average Morgan County Tax Bill
$420
Average Missouri Tax Bill
$1,606
Average United States Tax Bill
$2,690
Property Tax Bills Across Cole Camp, Missouri
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 65325 | $36 | $46 | $168 | $471 | $1,044 |
Source: Ownwell