Millersville, Missouri Property Taxes
The median property tax rate in Millersville, MO is 0.76%, which is notably lower than both the national median of 0.99% and the Missouri state median of 1.20%. With a median home value of $189,650, the typical annual property tax bill in Millersville amounts to $1,407, well below the national median of $2,690. Property taxes in Millersville 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 Millersville'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 Millersville 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
Millersville, 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 Millersville Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Millersville with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Millersville 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 Millersville, Missouri
Property taxes in Millersville, Missouri, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Millersville is 0.76%, which is lower than the U.S. national median of 0.99%. Local government entities within Millersville set these rates annually, and they can vary significantly across different neighborhoods. Each year, Millersville 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 Millersville's effective property tax rate to other counties in Missouri and the national median. For comparison, the zip code 63766 has both the highest and lowest median property tax rate of 0.76%. Understanding how these cities compare with Millersville provides valuable insights into the varying tax landscape across Bollinger County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Millersville Tax Rate
0.76%
Average Bollinger County Tax Rate
0.80%
Average Missouri Tax Rate
1.20%
Average United States Tax Rate
0.99%
Property Tax Rates Across Millersville, Missouri
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 63766 | 0.70% | 0.72% | 0.76% | 0.77% | 0.78% |
Source: Ownwell
Property Tax Assessment Values Across Millersville, Missouri
In Millersville, 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 Bollinger County 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. In Millersville, 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. For instance, the median home price in Millersville is $189,650, with tax bills ranging from $641 at the 25th percentile to $1,627 at the 90th percentile. The highest and lowest median tax bill in the region both stand at $1,407 in the zip code 63766. By understanding these valuation concepts, property owners can better navigate their tax responsibilities and identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Millersville Assessed Value
$189,650
Average Bollinger County Assessed Value
$59,990
Average Missouri Assessed Value
$129,505
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Millersville, Missouri
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 63766 | $45,175 | $87,275 | $189,650 | $199,798 | $212,780 |
Source: Ownwell
Property Tax Bills Across Millersville, Missouri
In Millersville, property tax bills are determined by assessing the value of a home and applying the local tax rate to that assessed value. The median home price in Millersville is $189,650. Homeowners in the 25th percentile can expect a tax bill around $641, while those in the 75th percentile might see a bill closer to $1,463. For those in the 90th percentile, the tax bill can reach up to $1,627. These figures illustrate the variance in tax bills based on property values and local tax rates. The property tax rate in Millersville is influenced by various factors, including the assessed value of the property, local government budgets, and public service funding needs. With the national median property tax rate at 0.99%, Millersville homeowners may find their tax bills competitive, especially when considering the local median tax bills. Understanding these factors helps homeowners anticipate their financial responsibilities and plan accordingly for their annual property tax payments.
Average Millersville Tax Bill
$1,407
Average Bollinger County Tax Bill
$498
Average Missouri Tax Bill
$1,606
Average United States Tax Bill
$2,690
Property Tax Bills Across Millersville, Missouri
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 63766 | $329 | $641 | $1,407 | $1,463 | $1,627 |
Source: Ownwell