Hazel Crest, Missouri Property Taxes
The median property tax rate in Hazel Crest, MO is 0.77%, significantly lower than both the national median of 0.99% and Missouri's state median of 1.20%. With a median home value of $6,100, the typical annual property tax bill in Hazel Crest is just $47, far below the national median of $2,690. Property taxes here are calculated based on the tax assessed value, which generally falls below the market value due to various exemptions like the primary residence and agricultural exemptions. Understanding Hazel Crest'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 Hazel Crest or another part of Morgan County, understanding the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Hazel Crest, Missouri Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.77%
Estimate Property Tax Bill
$47
Ownwell’s Hazel Crest Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Hazel Crest with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Hazel Crest 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 Hazel Crest, Missouri
Property taxes in Hazel Crest, Missouri, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Hazel Crest is 0.77%, which is lower than both the Missouri state median and the U.S. national median of 0.99%. Local government entities within Hazel Crest set these rates annually, and they can vary significantly across different neighborhoods. Each year, Hazel Crest 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 Hazel Crest's effective property tax rate to other counties in Missouri and the national median. For comparison, the highest median property tax rate in Missouri is found in ZIP code 63011, with a rate of 1.29%, while the lowest median tax rate is in ZIP code 64093, at 0.62%. Understanding how these cities compare with Hazel Crest 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 Hazel Crest Tax Rate
0.77%
Average Morgan County Tax Rate
0.87%
Average Missouri Tax Rate
1.20%
Average United States Tax Rate
0.99%
Property Tax Rates Across Hazel Crest, Missouri
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|
Source: Ownwell
Property Tax Assessment Values Across Hazel Crest, Missouri
In Hazel Crest, 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 Hazel Crest, 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 Hazel Crest helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The median home price here is $6,100, with tax bills ranging from $47 at the 25th percentile to $47 at the 90th percentile.
Average Hazel Crest 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 Hazel Crest, Missouri
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|
Source: Ownwell
Property Tax Bills Across Hazel Crest, Missouri
In Hazel Crest, located in Morgan County, MO, property tax bills are determined by assessing the market value of a home and applying the local tax rate. The median home price in Hazel Crest is $6,100, and the property tax rate is applied to this value to calculate the annual tax bill. The factors considered in this calculation include the assessed value of the property, which is determined by the county assessor, and the local tax rate set by the county government. For homeowners, this means their property tax bill can vary based on changes in the assessed value of their property and any adjustments to the local tax rate. In Hazel Crest, the tax bills are relatively low, with the 25th, 75th, and 90th percentiles all being $47. This is significantly lower than the national median property tax rate of 0.99%. Consequently, homeowners in Hazel Crest benefit from lower property tax bills, which can ease the financial burden of homeownership and potentially make the area more attractive for buyers.
Average Hazel Crest Tax Bill
$47
Average Morgan County Tax Bill
$420
Average Missouri Tax Bill
$1,606
Average United States Tax Bill
$2,690
Property Tax Bills Across Hazel Crest, Missouri
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|
Source: Ownwell