Kernersville, Missouri Property Taxes
The median property tax rate in Kernersville, MO is 1.37%, considerably higher than both the national median of 0.99% and the Missouri state median of 1.20%. With the median home value in Kernersville, the typical annual property tax bill reaches $74, which is far below the national median of $2,690. Property taxes in Kernersville 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 Kernersville'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 Kernersville 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
Kernersville, Missouri Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.37%
Estimate Property Tax Bill
$74
Ownwell’s Kernersville Property Tax Bill Calculator is a valuable resource for homeowners, real estate investors, and potential buyers to estimate their annual property taxes in Kernersville using just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Kernersville to provide an estimated property tax bill. This insightful tool helps you understand potential tax liabilities. For those interested in neighborhood-level trends, additional localized information is available below. Your property’s assessed value is determined by Morgan County for property tax calculations, taking into account any applicable exemptions.
Property Tax Rates Across Kernersville, Missouri
Property taxes in Kernersville, Missouri, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Kernersville is 1.37%, higher than both the Missouri state median and the U.S. national median of 0.99%. Local government entities within Kernersville set these rates annually, and they can vary significantly across different neighborhoods. Each year, Kernersville 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 Kernersville's effective property tax rate to other counties in Missouri and the national median. For comparison, the zip code with the highest median property tax rate in the area has a rate of 1.52%, while the zip code with the lowest median tax rate has a rate of 1.12%. Understanding how these cities compare with Kernersville 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 Kernersville Tax Rate
1.37%
Average Morgan County Tax Rate
0.87%
Average Missouri Tax Rate
1.20%
Average United States Tax Rate
0.99%
Property Tax Rates Across Kernersville, Missouri
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|
Source: Ownwell
Property Tax Assessment Values Across Kernersville, Missouri
In Kernersville, 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 Assessment Office 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 Kernersville, 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 Kernersville helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The median home price in Kernersville is $5,400, with tax bills for the 25th, 75th, and 90th percentiles all at $74.
Average Kernersville Assessed Value
$5,400
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 Kernersville, Missouri
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|
Source: Ownwell
Property Tax Bills Across Kernersville, Missouri
In Kernersville, located in Morgan County, MO, property tax bills are calculated based on the assessed value of the property. This assessed value is determined by the county assessor and typically represents a percentage of the property's market value. Various factors such as the property's location, size, and condition are considered during the assessment process. Homeowners in Kernersville can expect their property tax rate to align closely with the national median property tax rate of 0.99%. For a median home price of $5,400, the property tax bill falls within a narrow range, with the 25th, 75th, and 90th percentiles all showing a tax bill of $74. This consistent tax rate indicates a relatively stable property tax environment for homeowners. Property taxes play a crucial role in funding local services such as schools, public safety, and infrastructure. While the tax bills in Kernersville may seem modest compared to national averages, they are essential for maintaining community services and amenities that benefit all residents.
Average Kernersville Tax Bill
$74
Average Morgan County Tax Bill
$420
Average Missouri Tax Bill
$1,606
Average United States Tax Bill
$2,690
Property Tax Bills Across Kernersville, Missouri
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|
Source: Ownwell