Crete, Missouri Property Taxes
The median property tax rate in Crete, MO is 2.51%, significantly higher than both the national median of 0.99% and the Missouri state median of 1.20%. With the median home value in Crete, the typical annual property tax bill reaches $42, well below the national median of $2,690. Property taxes in Crete are calculated based on the assessed value, which typically falls below the market value due to various exemptions like the primary residence and agricultural exemptions. Understanding Crete'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 Crete 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
Crete, Missouri Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
2.51%
Estimate Property Tax Bill
$48
Ownwell’s Crete Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Crete with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Crete 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 Crete, Missouri
Property taxes in Crete, Missouri, are crucial for funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Crete is 0.89%, which is lower than both the Missouri state median of 1.04% and the U.S. national median of 0.99%. Local government entities within Crete set these rates annually, and they can vary significantly across different neighborhoods. Each year, Crete 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 Crete's effective property tax rate to other counties in Missouri and the national median. For comparison, the 63101 zip code has the highest median property tax rate of 1.97%, while the 63001 zip code has the lowest median tax rate of 0.46%. Understanding how these cities compare with Crete 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 Crete Tax Rate
2.51%
Average Morgan County Tax Rate
0.87%
Average Missouri Tax Rate
1.20%
Average United States Tax Rate
0.99%
Property Tax Rates Across Crete, Missouri
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 60417 | 1.96% | 2.17% | 2.51% | 2.85% | 3.06% |
Source: Ownwell
Property Tax Assessment Values Across Crete, Missouri
In Crete, 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 Crete, 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 zip code with the highest tax bill in Crete sees an annual tax bill of $48, whereas the zip code with the lowest tax bill is $39. Being aware of these valuation processes helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Crete Assessed Value
$1,900
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 Crete, Missouri
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 60417 | $1,260 | $1,500 | $1,900 | $2,300 | $2,540 |
Source: Ownwell
Property Tax Bills Across Crete, Missouri
In Crete, Morgan County, MO, property tax bills are calculated based on the assessed value of a home, which is a percentage of its market value. The median home price in Crete stands at $1,900. Local tax authorities determine the assessed value and apply the county's property tax rate to compute the tax bill. Various factors, such as property size, location, and improvements, influence the assessed value. For homeowners in Crete, the property tax burden can vary significantly. The tax bill at the 25th percentile is $39, while at the 75th percentile, it rises to $46. At the 90th percentile, homeowners pay around $48. These figures highlight the range of property tax obligations within the city. Compared to the national median property tax rate of 0.99%, Crete's property taxes are relatively modest. Understanding these nuances is crucial for homeowners as it directly impacts their annual financial planning and overall cost of homeownership.
Average Crete Tax Bill
$42
Average Morgan County Tax Bill
$420
Average Missouri Tax Bill
$1,606
Average United States Tax Bill
$2,690
Property Tax Bills Across Crete, Missouri
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 60417 | $37 | $39 | $42 | $46 | $48 |
Source: Ownwell