Northmoor, Missouri Property Taxes
The median property tax rate in Northmoor, MO is 1.24%, higher than both the national median of 0.99% and Missouri's state median of 1.20%. With a median home value of $104,108 in Northmoor, the typical annual property tax bill amounts to $1,288, which is below the national median of $2,690. Property taxes in Northmoor 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 Northmoor'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 Northmoor 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
Northmoor, Missouri Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.24%
Estimate Property Tax Bill
$1,291
Ownwell’s NORTHMOOR Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in NORTHMOOR with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in NORTHMOOR 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 Northmoor, Missouri
Property taxes in Northmoor, Missouri, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Northmoor is 1.24%, which is significantly higher than both the Missouri state median and the U.S. national median of 0.99%. Local government entities within Northmoor set these rates annually, and they can vary significantly across different neighborhoods. Each year, Northmoor 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 Northmoor's effective property tax rate to other areas in Missouri and the national median. For comparison, the zip code 64150 has the highest median property tax rate of 1.24%, while the same zip code also has the lowest median tax rate of 1.24%. Understanding how these areas compare with Northmoor provides valuable insights into the varying tax landscape across Platte County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Northmoor Tax Rate
1.24%
Average Platte County Tax Rate
1.45%
Average Missouri Tax Rate
1.20%
Average United States Tax Rate
0.99%
Property Tax Rates Across Northmoor, Missouri
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 64150 | 1.24% | 1.24% | 1.24% | 1.26% | 1.31% |
Source: Ownwell
Property Tax Assessment Values Across Northmoor, Missouri
In Northmoor, 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 Platte 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 Northmoor, 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 Northmoor helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The highest median tax bill in Northmoor is $1,288 in the 64150 zip code, while the lowest median tax bill is also $1,288 in the same zip code.
Average Northmoor Assessed Value
$104,108
Average Platte County Assessed Value
$243,632
Average Missouri Assessed Value
$129,505
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Northmoor, Missouri
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 64150 | $101,598 | $102,066 | $104,108 | $132,919 | $181,568 |
Source: Ownwell
Property Tax Bills Across Northmoor, Missouri
In Northmoor, located in Platte County, MO, property tax bills are calculated based on the assessed value of a property, which is a percentage of its market value. The local tax rate is then applied to this assessed value to determine the final tax bill. For instance, with a median home price of $104,108, homeowners can expect tax bills that vary significantly depending on their property's assessed value and the specific tax rate applied. Several factors influence the property tax bill, including the property's assessed value, local tax rates, and applicable exemptions. Homeowners in Northmoor see a wide range of tax bills, from the 25th percentile at $1,263 to the 90th percentile at $2,401. The highest and lowest median tax bills in the area are both $1,288, found in the 64150 zip code. Compared to the national median property tax rate of 0.99%, Northmoor's rates can have a considerable impact on homeowners, affecting their overall financial planning and housing affordability.
Average Northmoor Tax Bill
$1,288
Average Platte County Tax Bill
$3,540
Average Missouri Tax Bill
$1,606
Average United States Tax Bill
$2,690
Property Tax Bills Across Northmoor, Missouri
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 64150 | $1,257 | $1,263 | $1,288 | $1,700 | $2,401 |
Source: Ownwell