Hannibal, Marion County, Missouri Property Taxes
Median Hannibal, MO effective property tax rate: 1.18%, significantly higher than the national median of 1.02%, but lower than the Missouri state median of 1.20%.
Median Hannibal, MO home value: $51,650
Median annual Hannibal, MO tax bill: $595, $1,805 lower than the national median property tax bill of $2,400.
How are property taxes in Marion County calculated?
Property taxes in Hannibal, MO are calculated based on the tax assessed value, which is often lower than the actual market value due to property tax exemptions such as the homestead or senior exemption. Understanding Hannibal’s property tax system, exemptions, and reduction opportunities can lead to significant savings. Regardless of where you live in Hannibal, knowing local tax details benefits homeowners and investors.
Last Updated March 1, 2025
Hannibal, Marion County, Missouri Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Median Effective Tax Rate
1.18%
Estimate Property Tax Bill
$609
$566
Property Tax Rates Across Hannibal, Marion County, Missouri
Local government entities set tax rates, which can vary widely within a state. Annually, each county estimates its required budget to provide services and divides that by the total value of all taxable property within its jurisdiction. This calculation results in the property tax rate. While there are votes and laws involved in setting tax rates and budgets, in a nutshell, this is the annual process. Below, you can compare Hannibal’s effective property tax rate to other cities in Missouri and the median property tax rates in Missouri and the U.S.
Hannibal, located in Marion County, has a median property tax rate of 1.18%, which aligns with the highest and lowest rates within the area. This rate is slightly higher than the national median property tax rate of 1.02%, making it crucial for property owners to explore potential savings through property tax appeals. By understanding the local property tax landscape, you can make informed decisions and potentially reduce your property tax burden.
Our median effective property tax rate (tax bill ÷ assessor's market value) accounts for exemptions and deductions, making it more accurate than the general median tax rate, which is the midpoint of statutory rates before adjustments.
Median Effective Hannibal Tax Rate
1.18%
Our median effective property tax rate (tax bill ÷ assessor's market value) accounts for exemptions and deductions, making it more accurate than the general median tax rate, which is the midpoint of statutory rates before adjustments.
Median Effective Marion County Tax Rate
1.02%
Median Effective Missouri Tax Rate
1.20%
Median Effective United States Tax Rate
1.02%
Property Tax Rates Across Hannibal, Marion County, Missouri
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 63401 | 0.94% | 1.18% | 1.18% | 1.18% | 1.19% |
Source: Ownwell
Property Tax Assessment Values Across Hannibal, Marion County, Missouri
When examining property taxes in Hannibal, MO, understanding the distinction between "market value" and "assessed value" is crucial. The market value is what a willing buyer would pay to a willing seller in an open and competitive market, often influenced by location, property condition, and economic market trends. The Marion County Assessor estimates the market value for tax purposes. The assessed value is the market value minus any applicable exemptions or limits determined by local laws and offerings. The tax assessed value is the figure used to calculate your property taxes or the amount multiplied by your tax rate to get your tax bill.
In Marion County, assessment notices are sent in the spring each year. They’ll typically reach your mailbox by the middle of May. Each property owner receives an assessment notice that contains both the market value and assessed value, along with an estimate of your property tax bill. By providing insights into how assessed and market values are determined, this section helps property owners navigate their tax responsibilities and understand the valuation processes affecting their property taxes in Hannibal.
For example, the median home price in Hannibal is $51,650, with tax bills ranging significantly across the county. Zip code 63401 has the highest median home price at $51,650.
Property Tax Assessment Values Across Hannibal, Marion County, Missouri
Source: Ownwell
$51,650
$96,190
$140,730
Median Hannibal Market Value
$51,650
Median Marion County Market Value
$80,490
Median Missouri Market Value
$129,505
Median United States Market Value
$235,294
Property Tax Assessment Values Across Hannibal, Marion County, Missouri
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 63401 | $19,158 | $30,690 | $51,650 | $114,290 | $199,336 |
Source: Ownwell
Property Tax Bills Across Hannibal, Marion County, Missouri
Median Hannibal Tax Bill
$595
Median Marion County Tax Bill
$807
Median Missouri Tax Bill
$1,606
Median United States Tax Bill
$2,400
Property Tax Bills Across Hannibal, Marion County, Missouri
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 63401 | $219 | $360 | $595 | $1,232 | $2,257 |
Source: Ownwell