Tebbetts, Missouri Property Taxes
The median property tax rate in Tebbetts, MO is 2.03%, significantly higher than both the national median of 0.99% and Missouri's state median of 1.20%. With a median home value of $39,250 in Tebbetts, the typical annual property tax bill amounts to $353, which is below the national median of $2,690. Property taxes in Tebbetts are calculated based on the assessed value, which is often lower than the market value due to exemptions like the primary residence and agricultural exemptions. Understanding Tebbetts' property tax system, exploring available exemptions, and identifying opportunities for reductions can lead to significant annual savings. Whether you're in the heart of Tebbetts 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
Tebbetts, Missouri Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
2.03%
Estimate Property Tax Bill
$797
Ownwell’s Tebbetts Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Tebbetts with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Tebbetts 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 Tebbetts, Missouri
Property taxes in Tebbetts, Missouri, are crucial for funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Tebbetts is 0.93%, which is lower than both the Missouri state median of 0.97% and the U.S. national median of 0.99%. Local government entities within Tebbetts set these rates annually, and they can vary significantly across different neighborhoods. Each year, Tebbetts 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 Tebbetts' effective property tax rate to other counties in Missouri and the national median. For comparison, the 65080 zip code has the highest median property tax rate of 0.93%, while the 65080 zip code also has the lowest median tax rate of 0.93%. Understanding how these cities compare with Tebbetts provides valuable insights into the varying tax landscape across Callaway County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Tebbetts Tax Rate
2.03%
Average Morgan County Tax Rate
0.87%
Average Missouri Tax Rate
1.20%
Average United States Tax Rate
0.99%
Property Tax Rates Across Tebbetts, Missouri
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 65080 | 1.10% | 1.45% | 2.03% | 2.61% | 2.96% |
Source: Ownwell
Property Tax Assessment Values Across Tebbetts, Missouri
In Tebbetts, 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 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 Tebbetts, 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 Tebbetts helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. In Morgan County, the highest median tax bill is $353.00 in the 65080 zip code, while the lowest is also $353.00 in the same zip code.
Average Tebbetts Assessed Value
$39,250
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 Tebbetts, Missouri
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 65080 | $8,730 | $20,175 | $39,250 | $58,325 | $69,770 |
Source: Ownwell
Property Tax Bills Across Tebbetts, Missouri
Property tax bills in Tebbetts, located in Morgan County, MO, are calculated based on the assessed value of a property, which is determined by the county assessor. The assessed value is a percentage of the market value of the home. For instance, if the median home price is $39,250, the assessed value is then multiplied by the local tax rate to calculate the tax bill. In this region, the property tax rate is competitive when compared to the national median property tax rate of 0.99%. Homeowners in Tebbetts can expect their property tax bills to vary significantly. For example, the tax bill at the 25th percentile is $194, while at the 75th percentile, it rises to $512, and at the 90th percentile, it reaches $608. These property taxes fund essential public services such as schools, roads, and emergency services, directly impacting the community's quality of life. Understanding how these taxes are calculated can help homeowners budget more effectively and anticipate any changes in their annual property tax bills.
Average Tebbetts Tax Bill
$353
Average Morgan County Tax Bill
$420
Average Missouri Tax Bill
$1,606
Average United States Tax Bill
$2,690
Property Tax Bills Across Tebbetts, Missouri
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 65080 | $99 | $194 | $353 | $512 | $608 |
Source: Ownwell