Harwood, Missouri Property Taxes
The median property tax rate in Harwood, MO is 0.89%, which is lower than both the national median of 0.99% and the Missouri state median of 1.20%. With the median home value in Harwood at $37,665, the typical annual property tax bill is $290, significantly below the national median of $2,690. Property taxes in Harwood are calculated based on the tax assessed value, which often falls below the market value due to various exemptions like the primary residence and agricultural exemptions. Understanding Harwood'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 Harwood 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
Harwood, 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 Harwood Property Tax Bill Calculator enables homeowners, real estate investors, and potential buyers to estimate their annual property taxes in Harwood with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Harwood 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 Harwood, Missouri
Property taxes in Harwood, Missouri, are essential in funding vital local services such as public schools, road maintenance, and emergency services. The median tax rate in Harwood is 0.89%, lower than the U.S. national median of 0.99%. Local government entities within Harwood set these rates annually, and they can vary significantly across different neighborhoods. Each year, Harwood 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 Harwood's effective property tax rate to other counties in Missouri and the national median. For comparison, the 64750 zip code has the highest median property tax rate of 0.89%, while the same zip code also has the lowest median tax rate of 0.89%. Understanding how these cities compare with Harwood provides valuable insights into the varying tax landscape across Vernon County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Harwood Tax Rate
0.89%
Average Vernon County Tax Rate
1.01%
Average Missouri Tax Rate
1.20%
Average United States Tax Rate
0.99%
Property Tax Rates Across Harwood, Missouri
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 64750 | 0.62% | 0.73% | 0.89% | 0.96% | 1.01% |
Source: Ownwell
Property Tax Assessment Values Across Harwood, Missouri
In Harwood, 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 Vernon County Assessor's Office 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 Harwood, 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. For instance, the highest median tax bill in Harwood is $290 in the 64750 zip code, while the lowest median tax bill is also $290 in the same zip code. Being aware of these valuation processes helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Harwood Assessed Value
$37,665
Average Vernon County Assessed Value
$51,890
Average Missouri Assessed Value
$129,505
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Harwood, Missouri
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 64750 | $2,440 | $6,068 | $37,665 | $86,368 | $141,580 |
Source: Ownwell
Property Tax Bills Across Harwood, Missouri
In Harwood, located in Vernon County, MO, property tax bills are calculated based on the assessed value of a property and the local tax rate. The assessed value is typically a percentage of the property's market value, which is determined by local assessors. For homeowners in Harwood, the median home price is $37,665, and the property tax rate is applied to this assessed value to determine the annual tax bill. Factors such as property improvements, neighborhood changes, and market trends can influence the assessed value, subsequently affecting the tax bill. Tax bills in Harwood can vary significantly, with the 25th percentile tax bill being around $55, while the 75th percentile reaches $705. For those in the 90th percentile, the tax bill can be as high as $1,182. Compared to the national median property tax rate of 0.99%, Harwood's property taxes can be relatively modest, offering some financial relief to homeowners. However, the variability in tax bills means that homeowners need to stay informed about assessments and potential exemptions to manage their expenses effectively.
Average Harwood Tax Bill
$290
Average Vernon County Tax Bill
$536
Average Missouri Tax Bill
$1,606
Average United States Tax Bill
$2,690
Property Tax Bills Across Harwood, Missouri
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 64750 | $24 | $55 | $290 | $705 | $1,182 |
Source: Ownwell