Humphreys, Missouri Property Taxes
The median property tax rate in Humphreys, MO is 0.61%, significantly lower than both the national median of 0.99% and the Missouri state median of 1.20%. With the median home value in Humphreys at $22,097, the typical annual property tax bill is just $152, well below the national median of $2,690. Property taxes in Humphreys are calculated based on the tax assessed value, which often falls below the market value due to various exemptions such as primary residence and agricultural exemptions. Understanding Humphreys' property tax system, exploring available exemptions, and identifying opportunities for reductions can lead to significant annual savings. Whether you're in the heart of Humphreys or another part of the city, grasping the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Humphreys, Missouri Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.61%
Estimate Property Tax Bill
$135
Ownwell’s Humphreys Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Humphreys with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Humphreys 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 Humphreys, Missouri
Property taxes in Humphreys, Missouri, play an essential role in funding local services such as public schools, road maintenance, and emergency services. The median tax rate in Humphreys is 0.61%, which is lower than both the Missouri state median and the U.S. national median of 0.99%. Local government entities within Humphreys set these rates annually, and they can vary significantly across different neighborhoods. Each year, Humphreys 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 Humphreys's effective property tax rate to other counties in Missouri and the national median. For comparison, the 64646 zip code has the highest median property tax rate of 0.61%, while the same zip code also has the lowest median tax rate of 0.61%. Understanding how these cities compare with Humphreys provides valuable insights into the varying tax landscape across Sullivan County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Humphreys Tax Rate
0.61%
Average Sullivan County Tax Rate
0.37%
Average Missouri Tax Rate
1.20%
Average United States Tax Rate
0.99%
Property Tax Rates Across Humphreys, Missouri
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 64646 | 0.61% | 0.61% | 0.61% | 0.61% | 0.61% |
Source: Ownwell
Property Tax Assessment Values Across Humphreys, Missouri
In Humphreys, 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 local 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. Assessment notices in Humphreys 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 Humphreys helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The zip code 64646 has both the highest and lowest median tax bill at $152.
Average Humphreys Assessed Value
$22,097
Average Sullivan County Assessed Value
$82,754
Average Missouri Assessed Value
$129,505
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Humphreys, Missouri
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 64646 | $2,280 | $5,006 | $22,097 | $61,798 | $91,337 |
Source: Ownwell
Property Tax Bills Across Humphreys, Missouri
In Humphreys, located in Sullivan 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 Humphreys is $22,097. Property tax rates are applied to this assessed value to determine the annual tax bill. For instance, the median property tax bill in this area is $152, which is significantly lower than the national median property tax rate of 0.99%. Factors that influence the tax bill include the assessed value of the property and the local tax rate set by municipal authorities. Homeowners in Humphreys can expect their tax bills to range from as low as $32 at the 25th percentile to as high as $563 at the 90th percentile. These property taxes fund essential public services such as schools, roads, and emergency services, directly impacting the quality of life and community resources available to residents.
Average Humphreys Tax Bill
$152
Average Sullivan County Tax Bill
$330
Average Missouri Tax Bill
$1,606
Average United States Tax Bill
$2,690
Property Tax Bills Across Humphreys, Missouri
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 64646 | $15 | $32 | $152 | $393 | $563 |
Source: Ownwell