Pacific, Missouri Property Taxes
The median property tax rate in Pacific, MO is 1.08%, which is higher than both the national median of 0.99% and the Missouri state median of 1.20%. With the median home value in Pacific, the typical annual property tax bill reaches $165, significantly lower than the national median of $2,690. Property taxes in Pacific 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 Pacific'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 Pacific 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
Pacific, 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 Pacific Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Pacific with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Pacific 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 Pacific, Missouri
Property taxes in Pacific, Missouri, are essential in funding vital local services such as public schools, road maintenance, and emergency services. The median tax rate in Pacific is 1.08%, higher than both the Missouri state median and the U.S. national median of 0.99%. Local government entities within Pacific set these rates annually, and they can vary significantly across different neighborhoods. Each year, Pacific 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 Pacific's effective property tax rate to other counties in Missouri and the national median. For comparison, the 63069 zip code has the highest median property tax rate of 1.08%, while the same 63069 zip code also has the lowest median tax rate of 1.08%. Understanding how these cities compare with Pacific 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 Pacific Tax Rate
1.08%
Average Morgan County Tax Rate
0.87%
Average Missouri Tax Rate
1.20%
Average United States Tax Rate
0.99%
Property Tax Rates Across Pacific, Missouri
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 63069 | 1.05% | 1.07% | 1.08% | 1.69% | 2.05% |
Source: Ownwell
Property Tax Assessment Values Across Pacific, Missouri
Understanding the difference between "market value" and "assessed value" is crucial for comprehending property taxes in Pacific, Missouri. 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. Assessment notices in Pacific 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 Pacific helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The highest and lowest median tax bills are both $165.00, occurring in the 63069 zip code.
Average Pacific Assessed Value
$15,200
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 Pacific, Missouri
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 63069 | $4,480 | $8,500 | $15,200 | $17,400 | $18,720 |
Source: Ownwell
Property Tax Bills Across Pacific, Missouri
In Pacific, located in Morgan County, MO, property tax bills are calculated based on the assessed value of a home. The assessed value is determined by the local tax assessor, who evaluates the property's market value and applies the appropriate assessment ratio. For instance, if a home has a market value of $152,000, the assessed value is a percentage of that figure, depending on the local regulations. Several factors influence the final tax bill, including the home's assessed value, the local tax rate, and any applicable exemptions or deductions. Homeowners in Pacific can expect a range of tax bills, with the 25th percentile at $103, the 75th percentile at $185, and the 90th percentile reaching up to $197. The highest and lowest median tax bills in the area are both $165, indicating a relatively consistent tax burden across different properties. Understanding these factors helps homeowners in Pacific plan their finances and anticipate their annual property tax obligations. Comparing this to the national median property tax rate of 0.99% provides a benchmark for evaluating local tax rates and their impact on household budgets.
Average Pacific Tax Bill
$165
Average Morgan County Tax Bill
$420
Average Missouri Tax Bill
$1,606
Average United States Tax Bill
$2,690
Property Tax Bills Across Pacific, Missouri
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 63069 | $66 | $103 | $165 | $185 | $197 |
Source: Ownwell