Glen Carbon, Missouri Property Taxes
The median property tax rate in Glen Carbon, MO is 1.47%, considerably higher than both the national median of 0.99% and the Missouri state median of 1.20%. With the median home value in Glen Carbon, the typical annual property tax bill reaches $90, exceeding the national median of $2,690. Property taxes in Glen Carbon 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 Glen Carbon'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 Glen Carbon 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
Glen Carbon, 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 Glen Carbon Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Glen Carbon with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Glen Carbon 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 Glen Carbon, Missouri
Property taxes in Glen Carbon, Missouri, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Glen Carbon is 1.47%, significantly higher than the U.S. national median of 0.99%. Local government entities within Glen Carbon set these rates annually, and they can vary significantly across different neighborhoods. Each year, Glen Carbon 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 Glen Carbon's effective property tax rate to other counties in Missouri and the national median. For comparison, the 62034 zip code has the highest median property tax rate of 1.47%, while the same zip code also has the lowest median tax rate of 1.47%. Understanding how these cities compare with Glen Carbon 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 Glen Carbon Tax Rate
1.47%
Average Morgan County Tax Rate
0.87%
Average Missouri Tax Rate
1.20%
Average United States Tax Rate
0.99%
Property Tax Rates Across Glen Carbon, Missouri
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 62034 | 1.47% | 1.47% | 1.47% | 1.47% | 1.47% |
Source: Ownwell
Property Tax Assessment Values Across Glen Carbon, Missouri
In Glen Carbon, 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 Glen Carbon, 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 Glen Carbon helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The zip codes with the highest and lowest tax bills are 62034 at $90 and 62034 at $90, respectively.
Average Glen Carbon Assessed Value
$6,100
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 Glen Carbon, Missouri
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 62034 | $6,100 | $6,100 | $6,100 | $6,100 | $6,100 |
Source: Ownwell
Property Tax Bills Across Glen Carbon, Missouri
In Glen Carbon, located in Morgan County, MO, 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. For homeowners in Glen Carbon, the median home price is $6,100. Property taxes are then calculated by applying the local tax rate to this assessed value. Factors that influence the tax bill include the property's location within the county, any applicable exemptions, and the specific tax rate set by the local government. The tax bill can vary significantly, with homeowners at the 25th, 75th, and 90th percentiles all paying around $90. Understanding how these elements interact is crucial for homeowners, as property taxes directly impact annual housing costs and overall affordability. Compared to the national median property tax rate of 0.99%, Glen Carbon's property tax rates offer a unique perspective on local tax burdens.
Average Glen Carbon Tax Bill
$90
Average Morgan County Tax Bill
$420
Average Missouri Tax Bill
$1,606
Average United States Tax Bill
$2,690
Property Tax Bills Across Glen Carbon, Missouri
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 62034 | $90 | $90 | $90 | $90 | $90 |
Source: Ownwell