High Hill, Missouri Property Taxes
The median property tax rate in High Hill, MO is 3.01%, significantly higher than both the national median of 0.99% and the Missouri state median of 1.20%. With the median home value in High Hill, the typical annual property tax bill reaches $36, far below the national median of $2,690. Property taxes in High Hill 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 High Hill'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 High Hill 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
High Hill, Missouri Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
3.01%
Estimate Property Tax Bill
$36
Ownwell’s High Hill Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in High Hill with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in High Hill 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 High Hill, Missouri
Property taxes in High Hill, Missouri, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in High Hill is 0.91%, which is lower than the Missouri state median of 0.97% and the U.S. national median of 0.99%. Local government entities within High Hill set these rates annually, and they can vary significantly across different neighborhoods. Each year, High Hill 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 High Hill's effective property tax rate to other counties in Missouri and the national median. For comparison, the 63350 zip code has the highest median property tax rate of 0.91%, while the 63350 zip code also has the lowest median tax rate of 0.91%. Understanding how these cities compare with High Hill 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 High Hill Tax Rate
3.01%
Average Morgan County Tax Rate
0.87%
Average Missouri Tax Rate
1.20%
Average United States Tax Rate
0.99%
Property Tax Rates Across High Hill, Missouri
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 63350 | 3.01% | 3.01% | 3.01% | 3.01% | 3.01% |
Source: Ownwell
Property Tax Assessment Values Across High Hill, Missouri
In High Hill, 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 Assessor 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 High Hill, 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. The median home price in High Hill is $1,200, with tax bills ranging between $36 at the 25th percentile and $36 at the 90th percentile. 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 High Hill helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average High Hill Assessed Value
$1,200
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 High Hill, Missouri
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 63350 | $1,200 | $1,200 | $1,200 | $1,200 | $1,200 |
Source: Ownwell
Property Tax Bills Across High Hill, Missouri
In High Hill, 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 local tax rate is then applied to this assessed value to determine the annual tax bill. For example, with a median home price of $1,200, the tax bills at the 25th, 75th, and 90th percentiles are all $36. This suggests a relatively uniform tax rate across different property values in High Hill. Factors influencing the tax bill include the assessed value set by the county assessor and the applicable local tax rates, which can vary each year based on budget needs and voter-approved levies. Homeowners in High Hill benefit from relatively low property taxes compared to the national median property tax rate of 0.99%. This lower tax burden can make homeownership more affordable, but it also means that local services funded by property taxes may receive less funding. Understanding these dynamics helps homeowners plan their finances and anticipate changes in their annual tax obligations.
Average High Hill Tax Bill
$36
Average Morgan County Tax Bill
$420
Average Missouri Tax Bill
$1,606
Average United States Tax Bill
$2,690
Property Tax Bills Across High Hill, Missouri
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 63350 | $36 | $36 | $36 | $36 | $36 |
Source: Ownwell