Bragg City, Missouri Property Taxes
The median property tax rate in Bragg City, MO is 1.24%, which is notably higher than both the national median of 0.99% and the Missouri state median of 1.20%. With the median home value in Bragg City at $20,865, the typical annual property tax bill amounts to $260, which is considerably lower than the national median of $2,690. Property taxes in Bragg City are calculated based on the tax assessed value, often lower than the market value due to exemptions like the primary residence and agricultural exemptions. Understanding Bragg 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 Bragg City or another part of Pemiscot County, comprehending the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Bragg 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 Bragg City Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Bragg City with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Bragg City 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 Bragg City, Missouri
Property taxes in Bragg City, Missouri, are vital in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Bragg City is 1.24%, higher than both the Missouri state median and the U.S. national median of 0.99%. Local government entities within Bragg City set these rates annually, and they can vary significantly across different neighborhoods. Each year, Bragg 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 Bragg City's effective property tax rate to other counties in Missouri and the national median. For comparison, the 63827 zip code has the highest median property tax rate of 1.24%, while the 63827 zip code also has the lowest median tax rate of 1.24%. Understanding how these cities compare with Bragg City provides valuable insights into the varying tax landscape across Pemiscot County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Bragg City Tax Rate
1.24%
Average Pemiscot County Tax Rate
1.14%
Average Missouri Tax Rate
1.20%
Average United States Tax Rate
0.99%
Property Tax Rates Across Bragg City, Missouri
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 63827 | 1.13% | 1.17% | 1.24% | 1.35% | 1.46% |
Source: Ownwell
Property Tax Assessment Values Across Bragg City, Missouri
In Bragg 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 Pemiscot 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. In Bragg 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. With a median home price of $20,865, property taxes can vary significantly. For example, the 25th percentile tax bill is $171, while the 75th percentile tax bill reaches $405. The highest median tax bill is found in zip code 63827, amounting to $260. By understanding these valuation concepts, property owners can better navigate their tax responsibilities and identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Bragg City Assessed Value
$20,865
Average Pemiscot County Assessed Value
$27,370
Average Missouri Assessed Value
$129,505
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Bragg City, Missouri
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 63827 | $7,623 | $12,995 | $20,865 | $32,930 | $77,627 |
Source: Ownwell
Property Tax Bills Across Bragg City, Missouri
In Bragg City, property tax bills are calculated based on the assessed value of a home, which is a percentage of its market value. Homeowners in Pemiscot County experience property tax rates that are influenced by local government budgets, school funding needs, and other community services. The median home price in Bragg City is $20,865, which is significantly lower than the national median. Consequently, property tax bills in this region are relatively modest. For instance, the tax bill at the 25th percentile is $171, while at the 75th percentile, it rises to $405. At the 90th percentile, homeowners can expect to pay around $944. The highest and lowest median tax bill both stand at $260, indicating a consistent tax rate across various zip codes within the city. This system ensures that property taxes are proportionate to home values, providing essential funding for local infrastructure and services while maintaining affordability for homeowners.
Average Bragg City Tax Bill
$260
Average Pemiscot County Tax Bill
$320
Average Missouri Tax Bill
$1,606
Average United States Tax Bill
$2,690
Property Tax Bills Across Bragg City, Missouri
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 63827 | $111 | $171 | $260 | $405 | $944 |
Source: Ownwell