Syracuse, Morgan County, Missouri Property Taxes
The median property tax rate in Syracuse, MO is 0.94%, which is slightly below the national median of 0.99% and significantly lower than the Missouri state median of 1.20%. With a median home value of $65,350 in Syracuse, the typical annual property tax bill amounts to $619, well below the national median of $2,690. Property taxes in Syracuse are calculated based on the assessed value, which is often less than the market value due to various exemptions like those for primary residences and agricultural properties. By understanding Syracuse's property tax system, exploring available exemptions, and identifying opportunities for reductions, homeowners can achieve substantial annual savings. Whether you're in the heart of Syracuse or another part of Morgan County, a thorough understanding of the local property tax system can benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Syracuse, Morgan County, Missouri Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.94%
Estimate Property Tax Bill
$614
$570
Ownwell’s Syracuse Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Syracuse with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Syracuse 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 Syracuse, Morgan County, Missouri
Property taxes in Syracuse, Missouri, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Syracuse is 0.94%, which is lower than the U.S. national median of 0.99%. Local government entities within Syracuse set these rates annually, and they can vary significantly across different neighborhoods. Each year, Syracuse 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 Syracuse's effective property tax rate to other areas in Morgan County and the national median. For comparison, the zip code 65354 has the highest median property tax rate of 0.94%, while the same zip code also has the lowest median tax rate of 0.94%. Understanding how these areas compare with Syracuse 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 Syracuse Tax Rate
0.94%
Average Morgan County Tax Rate
0.87%
Average Missouri Tax Rate
1.20%
Average United States Tax Rate
0.99%
Property Tax Rates Across Syracuse, Morgan County, Missouri
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 65354 | 0.79% | 0.88% | 0.94% | 1.10% | 1.10% |
Source: Ownwell
Property Tax Assessment Values Across Syracuse, Morgan County, Missouri
In Syracuse, 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’s 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 Syracuse, 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 Syracuse helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The highest median tax bill in the area is $619 in the zip code 65354, while the lowest is also $619 in the same zip code.
Property Tax Assessment Values Across Syracuse, Morgan County, Missouri
Source: Ownwell
$1,750
$74,875
$148,000
Average Syracuse Assessed Value
$65,350
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 Syracuse, Morgan County, Missouri
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 65354 | $15,820 | $35,725 | $65,350 | $108,000 | $154,140 |
Source: Ownwell
Property Tax Bills Across Syracuse, Morgan County, Missouri
In Syracuse, located in Morgan County, MO, property tax bills are calculated based on the assessed value of a home. The assessed value is a percentage of the market value, which is determined through periodic assessments conducted by local authorities. For instance, with the median home price in Syracuse at $65,350, the assessed value forms the basis for the tax bill. Several factors contribute to the final tax bill, including the local tax rate and any applicable exemptions or deductions. The median property tax rate in the U.S. stands at 0.99%, providing a useful benchmark. In Syracuse, tax bills vary significantly, with the 25th percentile at $355 and the 75th percentile reaching $1,009. At the higher end, the 90th percentile tax bill is $1,380. Understanding these factors helps homeowners anticipate their property tax obligations, ensuring they can budget accordingly. High property taxes can impact household finances, while lower taxes may offer some financial relief.
Average Syracuse Tax Bill
$619
Average Morgan County Tax Bill
$420
Average Missouri Tax Bill
$1,606
Average United States Tax Bill
$2,690
Property Tax Bills Across Syracuse, Morgan County, Missouri
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 65354 | $149 | $355 | $619 | $1,009 | $1,380 |
Source: Ownwell