Hiawatha, Missouri Property Taxes
The median property tax rate in Hiawatha, MO is 0.89%, which is notably lower than both the national median of 0.99% and the Missouri state median of 1.20%. With a median home value of $7,900 in Hiawatha, the typical annual property tax bill amounts to $71, significantly below the national median of $2,690. Property taxes in Hiawatha are calculated based on the tax assessed value, which tends to be lower than the market value due to various exemptions such as primary residence and agricultural exemptions. Understanding Hiawatha'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 Hiawatha or another part of Morgan County, grasping the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Hiawatha, Missouri Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.89%
Estimate Property Tax Bill
$70
Ownwell’s Hiawatha Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Hiawatha with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Hiawatha 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 Hiawatha, Missouri
Property taxes in Hiawatha, Missouri, are crucial for funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Hiawatha is 1.37%, significantly higher than both the Missouri state median of 0.91% and the U.S. national median of 0.99%. Local government entities within Hiawatha set these rates annually, and they can vary significantly across different neighborhoods. Each year, Hiawatha 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 Hiawatha's effective property tax rate to other counties in Missouri and the national median. For comparison, the 63005 ZIP code has the highest median property tax rate of 1.53%, while the 64079 ZIP code has the lowest median tax rate of 0.73%. Understanding how these cities compare with Hiawatha 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 Hiawatha 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 Hiawatha, Missouri
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|
Source: Ownwell
Property Tax Assessment Values Across Hiawatha, Missouri
In Hiawatha, 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 county assessor in Morgan County 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. Assessment notices in Hiawatha 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 Hiawatha helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. In Hiawatha, the median home price is $7,900, with the 25th, 75th, and 90th percentile tax bills all at $71.
Average Hiawatha Assessed Value
$7,900
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 Hiawatha, Missouri
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|
Source: Ownwell
Property Tax Bills Across Hiawatha, Missouri
In Hiawatha, 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 assessed value is a percentage of the market value, which is then multiplied by the tax rate to calculate the annual tax bill. For instance, if a home in Hiawatha has a median market value of $7,900, the tax bill is calculated based on this valuation. Homeowners in Hiawatha can expect a property tax bill around $71, as seen in the 25th, 75th, and 90th percentiles. This uniformity suggests a stable tax environment, which can be beneficial for budgeting and financial planning. Compared to the national median property tax rate of 0.99%, Hiawatha offers a relatively low tax burden, making it an attractive location for homeowners seeking affordability. Understanding these factors helps homeowners anticipate their financial obligations and manage their expenses effectively.
Average Hiawatha Tax Bill
$71
Average Morgan County Tax Bill
$420
Average Missouri Tax Bill
$1,606
Average United States Tax Bill
$2,690
Property Tax Bills Across Hiawatha, Missouri
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|
Source: Ownwell