Hannibal, Ralls County, Missouri Property Taxes
Median Hannibal, MO effective property tax rate: 1.02%, aligning with the national median of 1.02%, but lower than the Missouri state median of 1.20%.
Median Hannibal, MO home value: $120,685
Median annual Hannibal, MO tax bill: $1,231, $1,169 lower than the national median property tax bill of $2,400.
How are property taxes in Ralls 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, Ralls County, Missouri Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Median Effective Tax Rate
1.02%
Estimate Property Tax Bill
$1,231
$1,142
Property Tax Rates Across Hannibal, Ralls County, Missouri
Local government entities in Missouri set tax rates, which can vary widely within the state. Each county estimates its required budget to provide services and divides that by the total value of all taxable property within its jurisdiction, resulting in the property tax rate. This annual process involves votes and laws to set tax rates and budgets.
Hannibal, located in Ralls County, offers an interesting perspective on property tax rates. The effective property tax rate in Hannibal stands at 1.02%, aligning with both the Missouri median and the national median of 1.02%. This consistency provides a stable tax environment for property owners in the area.
When compared to other cities in Missouri, Hannibal's property tax rate reflects the state's balanced approach to taxation. The city's rate ensures that property owners contribute fairly to the local budget while remaining competitive on a national scale.
Overall, Hannibal's property tax rate offers a reliable and predictable framework for homeowners, aligning with both state and national expectations.
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
1.02%
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 Ralls County Tax Rate
0.98%
Median Effective Missouri Tax Rate
1.20%
Median Effective United States Tax Rate
1.02%
Property Tax Rates Across Hannibal, Ralls County, Missouri
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 63401 | 0.98% | 1.02% | 1.02% | 1.02% | 1.13% |
Source: Ownwell
Property Tax Assessment Values Across Hannibal, Ralls 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 Ralls 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 Ralls 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 $120,685, with tax bills ranging significantly across the county. Zip code 63401 has the highest median home price at $120,685.
Property Tax Assessment Values Across Hannibal, Ralls County, Missouri
Source: Ownwell
$59,360
$95,130
$130,900
Median Hannibal Market Value
$120,685
Median Ralls County Market Value
$94,330
Median Missouri Market Value
$129,505
Median United States Market Value
$235,294
Property Tax Assessment Values Across Hannibal, Ralls County, Missouri
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 63401 | $38,543 | $65,172 | $120,685 | $170,680 | $231,384 |
Source: Ownwell
Property Tax Bills Across Hannibal, Ralls County, Missouri
In Hannibal, located in Ralls County, Missouri, property tax bills are determined by the assessed value of a property, which is a percentage of its market value. The local tax rate is then applied to this assessed value to calculate the annual tax bill. Factors such as property type, location, and any applicable exemptions can influence the final tax amount. Homeowners in Hannibal face a median property tax bill of $1,231, which is significantly lower than the national median of $2,400. However, the tax bills can range from $678 at the 25th percentile to $2,343 at the 90th percentile, indicating a variance based on property specifics and exemptions.
Ownwell can assist homeowners in Hannibal by identifying potential savings through property tax appeals and ensuring they are taking advantage of any available exemptions. By leveraging expert knowledge and local insights, Ownwell helps homeowners reduce their tax burden, potentially saving hundreds of dollars annually. This service not only eases the financial strain but also ensures homeowners are not overpaying on their property taxes.
Median Hannibal Tax Bill
$1,231
Median Ralls County Tax Bill
$888
Median Missouri Tax Bill
$1,606
Median United States Tax Bill
$2,400
Property Tax Bills Across Hannibal, Ralls County, Missouri
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 63401 | $402 | $678 | $1,231 | $1,731 | $2,343 |
Source: Ownwell