Universal City, Missouri Property Taxes
The median property tax rate in Universal City, MO is 1.42%, considerably higher than both the national median of 0.99% and the Missouri state median of 1.20%. With the median home value in Universal City, the typical annual property tax bill reaches $68, exceeding the national median of $2,690. Property taxes in Universal City 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 Universal City'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 Universal City 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
Universal City, 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 Universal City Property Tax Bill Calculator is an invaluable resource for homeowners, real estate investors, and potential buyers looking to estimate their annual property taxes in Universal City. By simply entering your property's estimated assessed value, the calculator uses the median tax rate in Universal City to provide an accurate estimate of your property tax bill. This handy tool offers a clear understanding of your potential tax liabilities. For those interested in more detailed trends at the neighborhood level, additional localized information is available further down the page. Your property’s assessed value, determined by Morgan County, is crucial for these calculations and includes any applicable exemptions.
Property Tax Rates Across Universal City, Missouri
Property taxes in Universal City, Missouri, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Universal City is 1.42%, significantly higher than both the Missouri state median and the U.S. national median of 0.99%. Local government entities within Universal City set these rates annually, and they can vary significantly across different neighborhoods. Each year, Universal City 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 Universal City's effective property tax rate to other counties in Missouri and the national median. For comparison, the highest median property tax rate in the region is significantly higher, while the lowest median tax rate is much lower. Understanding how these cities compare with Universal City 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 Universal City Tax Rate
1.42%
Average Morgan County Tax Rate
0.87%
Average Missouri Tax Rate
1.20%
Average United States Tax Rate
0.99%
Property Tax Rates Across Universal City, Missouri
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|
Source: Ownwell
Property Tax Assessment Values Across Universal City, Missouri
In Universal City, 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 Universal City, 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 Universal City helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Universal City Assessed Value
$4,800
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 Universal City, Missouri
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|
Source: Ownwell
Property Tax Bills Across Universal City, Missouri
In Universal City, located in Morgan County, MO, property tax bills are calculated based on the assessed value of the property. The assessed value is determined by the county assessor and typically represents a percentage of the property's market value. For instance, if the median home price is $4,800, the assessed value will be a fraction of this amount, depending on the local assessment rate. Once the assessed value is established, local tax rates are applied to calculate the annual property tax bill. In Universal City, homeowners can expect tax bills to be relatively modest, with the 25th, 75th, and 90th percentiles all seeing tax bills around $68. This is significantly lower compared to the national median property tax rate of 0.99%, making it an attractive area for homeowners seeking affordability. Factors such as property improvements, neighborhood developments, and changes in market conditions can influence the assessed value and, consequently, the tax bill. Keeping abreast of these elements can help homeowners anticipate changes in their property tax liabilities.
Average Universal City Tax Bill
$68
Average Morgan County Tax Bill
$420
Average Missouri Tax Bill
$1,606
Average United States Tax Bill
$2,690
Property Tax Bills Across Universal City, Missouri
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|
Source: Ownwell