Connelsville, Missouri Property Taxes
The median property tax rate in Connelsville, MO is 1.64%, considerably higher than both the national median of 0.99% and the Missouri state median of 1.20%. With the median home value in Connelsville, the typical annual property tax bill reaches $57, exceeding the national median of $2,690. Property taxes in Connelsville 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 Connelsville'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 Connelsville 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
Connelsville, 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 CONNELSVILLE Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in CONNELSVILLE with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in CONNELSVILLE 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 Connelsville, Missouri
Property taxes in Connelsville, Missouri, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Connelsville is 1.64%, significantly higher than the U.S. national median of 0.99%. Local government entities within Connelsville set these rates annually, and they can vary significantly across different neighborhoods. Each year, Connelsville 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 Connelsville's effective property tax rate to other areas in Missouri and the national median. For comparison, the zip code 63559 has the highest median property tax rate of 1.64%, while the same zip code also has the lowest median tax rate of 1.64%. Understanding how these areas compare with Connelsville 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 Connelsville Tax Rate
1.64%
Average Morgan County Tax Rate
0.87%
Average Missouri Tax Rate
1.20%
Average United States Tax Rate
0.99%
Property Tax Rates Across Connelsville, Missouri
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 63559 | 0.89% | 0.96% | 1.64% | 2.38% | 2.66% |
Source: Ownwell
Property Tax Assessment Values Across Connelsville, Missouri
In Connelsville, 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 Connelsville, 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. For instance, the 25th percentile tax bill in Connelsville is $40, while the 90th percentile tax bill reaches $430. Being aware of these valuation processes helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Connelsville Assessed Value
$3,500
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 Connelsville, Missouri
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 63559 | $1,460 | $1,700 | $3,500 | $10,500 | $45,420 |
Source: Ownwell
Property Tax Bills Across Connelsville, Missouri
In Connelsville, located in Morgan County, MO, property tax bills are determined based on the assessed value of the property, which is a percentage of the market value. Homeowners in Connelsville can expect their tax bills to fall within a range that reflects the value of their properties. For instance, the 25th percentile tax bill is around $40, while the 75th percentile tax bill is approximately $90, and the 90th percentile tax bill reaches up to $430. These tax bills are influenced by various factors, including the property's assessed value and the local tax rate set by the county. Compared to the national median property tax rate of 0.99%, homeowners in Connelsville benefit from relatively lower property taxes. This can significantly affect homeowners by reducing their annual expenses, making homeownership more affordable. Understanding these factors is crucial for homeowners to anticipate their tax liabilities and manage their finances effectively.
Average Connelsville Tax Bill
$57
Average Morgan County Tax Bill
$420
Average Missouri Tax Bill
$1,606
Average United States Tax Bill
$2,690
Property Tax Bills Across Connelsville, Missouri
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 63559 | $38 | $40 | $57 | $90 | $430 |
Source: Ownwell