Bosworth, Missouri Property Taxes
The median property tax rate in Bosworth, MO is 1.26%, notably higher than both the national median of 0.99% and Missouri's state median of 1.20%. With the median home value in Bosworth at $41,788, the typical annual property tax bill reaches $476, which is below the national median of $2,690. Property taxes in Bosworth 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 Bosworth'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 Bosworth or another part of Carroll County, understanding the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Bosworth, 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 Bosworth Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Bosworth with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Bosworth 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 Carroll County for property tax calculations, accounting for any exemptions that may apply.
Property Tax Rates Across Bosworth, Missouri
Property taxes in Bosworth, Missouri, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Bosworth is 0.87%, lower than both the Missouri state median of 0.97% and the U.S. national median of 0.99%. Local government entities within Bosworth set these rates annually, and they can vary significantly across different neighborhoods. Each year, Bosworth 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 Bosworth's effective property tax rate to other counties in Missouri and the national median. For comparison, the 64623 zip code has the highest median property tax rate of 0.87%, while the lowest median tax rate is also 0.87%. Understanding how these cities compare with Bosworth provides valuable insights into the varying tax landscape across Carroll County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Bosworth Tax Rate
1.26%
Average Carroll County Tax Rate
1.19%
Average Missouri Tax Rate
1.20%
Average United States Tax Rate
0.99%
Property Tax Rates Across Bosworth, Missouri
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 64623 | 0.84% | 0.98% | 1.26% | 1.29% | 1.30% |
Source: Ownwell
Property Tax Assessment Values Across Bosworth, Missouri
Understanding the difference between "market value" and "assessed value" is crucial for comprehending property taxes in Bosworth, Missouri. 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 Carroll County Assessor 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 Bosworth, 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. Being aware of these valuation processes in Bosworth helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The highest and lowest median tax bills in the area are both $476.00, found in zip code 64623. This knowledge can empower homeowners to make informed decisions and potentially reduce their property tax liabilities.
Average Bosworth Assessed Value
$41,788
Average Carroll County Assessed Value
$54,921
Average Missouri Assessed Value
$129,505
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Bosworth, Missouri
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 64623 | $5,944 | $18,490 | $41,788 | $84,432 | $166,583 |
Source: Ownwell
Property Tax Bills Across Bosworth, Missouri
Property tax bills in Bosworth, Carroll County, MO, are calculated based on the assessed value of a property and the local tax rate. The assessed value is determined by evaluating the market value of the property, which is then multiplied by an assessment ratio set by the state. For homeowners in Bosworth, the median home price is $41,788. Property taxes are then calculated by applying the local tax rate to this assessed value. Several factors influence the final tax bill, including property size, location, and any applicable exemptions. For example, the 25th percentile tax bill in Bosworth is $238, while the 75th percentile tax bill is $897, indicating a range of tax liabilities based on property values and other factors. At the higher end, the 90th percentile tax bill reaches $1,617. These property tax bills significantly impact homeowners, influencing their overall cost of living and financial planning. With the national median property tax rate at 0.99%, understanding local tax obligations is crucial for managing expenses effectively.
Average Bosworth Tax Bill
$476
Average Carroll County Tax Bill
$634
Average Missouri Tax Bill
$1,606
Average United States Tax Bill
$2,690
Property Tax Bills Across Bosworth, Missouri
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 64623 | $79 | $238 | $476 | $897 | $1,617 |
Source: Ownwell