Higbee, Randolph County, Missouri Property Taxes
The median property tax rate in Higbee, MO is 1.16%, slightly higher than the national median of 0.99% but lower than the Missouri state median of 1.20%. With a median home value of $41,225 in Higbee, the typical annual property tax bill is $435, significantly below the national median of $2,690. Property taxes in Higbee are calculated based on the tax assessed value, which often falls below the market value due to exemptions such as those for primary residences and agricultural properties. Understanding Higbee'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 Higbee or another part of Randolph County, grasping the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Higbee, Randolph County, Missouri Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.16%
Estimate Property Tax Bill
$478
$444
Ownwell’s Higbee Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Higbee with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Higbee 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 Higbee, Randolph County, Missouri
Property taxes in Higbee, Missouri, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Higbee is 1.16%, higher than both the Missouri state median and the U.S. national median of 0.99%. Local government entities within Higbee set these rates annually, and they can vary significantly across different neighborhoods. Each year, Higbee 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 Higbee's effective property tax rate to other counties in Missouri and the national median. For comparison, the zip code 65257 has the highest median property tax rate of 1.16%, while the zip code 65257 also has the lowest median tax rate of 1.16%. Understanding how these cities compare with Higbee provides valuable insights into the varying tax landscape across Randolph County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Higbee Tax Rate
1.16%
Average Randolph County Tax Rate
1.24%
Average Missouri Tax Rate
1.20%
Average United States Tax Rate
0.99%
Property Tax Rates Across Higbee, Randolph County, Missouri
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 65257 | 0.80% | 1.03% | 1.16% | 1.34% | 1.39% |
Source: Ownwell
Property Tax Assessment Values Across Higbee, Randolph County, Missouri
In Higbee, 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 Randolph 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. 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. In Higbee, the median home price stands at $41,225, with tax bills varying significantly. For instance, the 25th percentile tax bill is $199, while the 75th percentile tax bill is $877. The highest and lowest median tax bills are both $435, found in the 65257 zip code. 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.
Property Tax Assessment Values Across Higbee, Randolph County, Missouri
Source: Ownwell
$32,320
$77,160
$122,000
Average Higbee Assessed Value
$41,225
Average Randolph County Assessed Value
$62,225
Average Missouri Assessed Value
$129,505
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Higbee, Randolph County, Missouri
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 65257 | $8,225 | $17,205 | $41,225 | $80,108 | $149,840 |
Source: Ownwell
Property Tax Bills Across Higbee, Randolph County, Missouri
In Higbee, located in Randolph County, MO, property tax bills are calculated based on the assessed value of a home, which is a percentage of its market value. The median home price in Higbee is $41,225. Property taxes are influenced by various factors, including local tax rates and the assessed value of the property. For example, the 25th percentile tax bill is $199, while the 75th percentile is $877, and the 90th percentile reaches up to $1,533. These figures indicate a range of tax burdens depending on the property's assessed value and the applicable tax rate. For comparison, the national median property tax rate is 0.99%. Homeowners in Higbee may find their tax bills vary widely, reflecting the local economic conditions and property values. Understanding these factors can help homeowners anticipate their annual tax obligations and budget accordingly.
Average Higbee Tax Bill
$435
Average Randolph County Tax Bill
$705
Average Missouri Tax Bill
$1,606
Average United States Tax Bill
$2,690
Property Tax Bills Across Higbee, Randolph County, Missouri
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 65257 | $96 | $199 | $435 | $877 | $1,533 |
Source: Ownwell