Nelson, Missouri Property Taxes
The median property tax rate in Nelson, MO is 1.13%, slightly higher than the national median of 0.99% but below the Missouri state median of 1.20%. With a median home value of $59,931 in Nelson, the typical annual property tax bill amounts to $665, which is significantly lower than the national median of $2,690. Property taxes in Nelson are determined based on the assessed value, which is often less than the market value due to exemptions such as those for primary residences and agricultural land. Gaining a clear understanding of Nelson’s property tax system, exploring available exemptions, and identifying opportunities for reductions can lead to substantial annual savings. Whether you're residing in Nelson or investing in property there, comprehending the local property tax structure will prove advantageous.
Last Updated June 14, 2024
Nelson, 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 Nelson Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Nelson with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Nelson 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 Nelson, Missouri
Property taxes in Nelson, Missouri, are crucial in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Nelson is 1.13%, higher than both the Missouri state median and the U.S. national median of 0.99%. Local government entities within Nelson set these rates annually, and they can vary significantly across different neighborhoods. Each year, Nelson 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 Nelson's effective property tax rate to other counties in Missouri and the national median. For comparison, the 65347 zip code has both the highest and lowest median property tax rate of 1.13%. Understanding how these areas compare with Nelson provides valuable insights into the varying tax landscape across Saline County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Nelson Tax Rate
1.13%
Average Saline County Tax Rate
1.17%
Average Missouri Tax Rate
1.20%
Average United States Tax Rate
0.99%
Property Tax Rates Across Nelson, Missouri
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 65347 | 0.89% | 1.06% | 1.13% | 1.38% | 1.38% |
Source: Ownwell
Property Tax Assessment Values Across Nelson, Missouri
In Nelson, 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 Saline 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 Nelson, 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 Nelson helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The highest and lowest median tax bills in the area are both $665, notably found in the 65347 zip code.
Average Nelson Assessed Value
$59,931
Average Saline County Assessed Value
$78,621
Average Missouri Assessed Value
$129,505
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Nelson, Missouri
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 65347 | $6,952 | $20,347 | $59,931 | $139,706 | $191,637 |
Source: Ownwell
Property Tax Bills Across Nelson, Missouri
In Nelson, located in Saline County, MO, property tax bills are calculated based on the assessed value of a home. The assessed value is a percentage of the market value determined by local government assessors. For example, if your home has a median market price of $59,931, the assessed value will be a fraction of that amount. The local tax rate is then applied to this assessed value to determine the annual tax bill. Several factors influence the tax bill, including property size, location, and any applicable exemptions. In Nelson, the tax bills vary significantly, with the 25th percentile at $257 and the 75th percentile reaching $1,542. For those at the 90th percentile, the tax bill can go up to $2,075. This variation affects homeowners differently, depending on their property's assessed value and the local tax rate. Comparatively, Nelson's property tax rates can be contrasted with the national median property tax rate of 0.99%, offering a perspective on how local rates impact homeowners. Understanding these factors helps homeowners anticipate their financial responsibilities and plan accordingly.
Average Nelson Tax Bill
$665
Average Saline County Tax Bill
$974
Average Missouri Tax Bill
$1,606
Average United States Tax Bill
$2,690
Property Tax Bills Across Nelson, Missouri
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 65347 | $98 | $257 | $665 | $1,542 | $2,075 |
Source: Ownwell