Morrison, Osage County, Missouri Property Taxes
The median property tax rate in Morrison, MO is 0.91%, slightly lower than the national median of 0.99% and significantly below the Missouri state median of 1.20%. With a median home value of $34,481 in Morrison, the typical annual property tax bill amounts to $280, which is considerably less than the national median of $2,690. Property taxes in Morrison are calculated based on the assessed value, which is often lower than the market value due to exemptions such as those for primary residences and agricultural properties. Understanding Morrison's property tax system, exploring available exemptions, and identifying opportunities for reductions can lead to substantial annual savings. Whether you're in the heart of Morrison or elsewhere in the city, comprehending the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Morrison, Osage County, Missouri Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.91%
Estimate Property Tax Bill
$314
$291
Ownwell’s Morrison Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Morrison with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Morrison 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 Morrison, Osage County, Missouri
Property taxes in Morrison, Missouri, are essential in funding critical local services such as public schools, road maintenance, and emergency services. The median tax rate in Morrison is 0.91%, slightly below the U.S. national median of 0.99%. Local government entities within Morrison set these rates annually, which can vary across different neighborhoods. Each year, Morrison 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 Morrison's effective property tax rate to other areas in Missouri and the national median. For comparison, the zip code 65061 has both the highest and lowest median property tax rate of 0.91%. Understanding how these areas compare with Morrison provides valuable insights into the varying tax landscape across Osage County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Morrison Tax Rate
0.91%
Average Osage County Tax Rate
0.86%
Average Missouri Tax Rate
1.20%
Average United States Tax Rate
0.99%
Property Tax Rates Across Morrison, Osage County, Missouri
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 65061 | 0.70% | 0.76% | 0.91% | 1.14% | 1.16% |
Source: Ownwell
Property Tax Assessment Values Across Morrison, Osage County, Missouri
In Morrison, 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 Osage 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 Morrison, 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 Morrison helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The zip code 65061 has both the highest and lowest median tax bill at $280.
Property Tax Assessment Values Across Morrison, Osage County, Missouri
Source: Ownwell
$12,528
$28,706
$44,883
Average Morrison Assessed Value
$34,481
Average Osage County Assessed Value
$30,816
Average Missouri Assessed Value
$129,505
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Morrison, Osage County, Missouri
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 65061 | $8,740 | $12,765 | $34,481 | $65,386 | $88,692 |
Source: Ownwell
Property Tax Bills Across Morrison, Osage County, Missouri
In Morrison, Osage County, MO, property tax bills are calculated based on the assessed value of your home. The assessed value is typically a percentage of the market value, determined by the county's assessment office. Factors such as property size, location, and market conditions influence this valuation. Once the assessed value is established, local tax rates are applied to calculate the tax bill. For homeowners in Morrison, the tax bill can vary significantly. For instance, the 25th percentile tax bill is around $134, while the 75th percentile reaches up to $624. At the higher end, the 90th percentile tax bill can be as much as $775. These property taxes fund essential public services, including schools, emergency services, and infrastructure, directly impacting the community's quality of life. Compared to the national median property tax rate of 0.99%, Morrison's rates reflect the local economic conditions and funding needs. Understanding these factors can help homeowners anticipate their annual property expenses and plan their finances accordingly.
Average Morrison Tax Bill
$280
Average Osage County Tax Bill
$261
Average Missouri Tax Bill
$1,606
Average United States Tax Bill
$2,690
Property Tax Bills Across Morrison, Osage County, Missouri
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 65061 | $63 | $134 | $280 | $624 | $775 |
Source: Ownwell