Bunceton, Missouri Property Taxes
The median property tax rate in Bunceton, MO is 1.25%, slightly higher than both the national median of 0.99% and Missouri's state median of 1.20%. With the median home value in Bunceton at $63,700, the typical annual property tax bill amounts to $764, which is well below the national median of $2,690. Property taxes in Bunceton 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 Bunceton'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 Bunceton or another part of Cooper County, familiarizing yourself with the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Bunceton, Missouri Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.25%
Estimate Property Tax Bill
$796
Ownwell’s Bunceton Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Bunceton with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Bunceton 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 Bunceton, Missouri
Property taxes in Bunceton, Missouri, are vital in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Bunceton is 1.25%, higher than both the Missouri state median of 0.91% and the U.S. national median of 0.99%. Local government entities within Bunceton set these rates annually, and they can vary significantly across different neighborhoods. Each year, Bunceton 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 Bunceton's effective property tax rate to other counties in Missouri and the national median. For comparison, the 65237 zip code has the highest median property tax rate of 1.25%, while the 65237 zip code has the lowest median tax rate of 1.25%. Understanding how these cities compare with Bunceton provides valuable insights into the varying tax landscape across Cooper County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Bunceton Tax Rate
1.25%
Average Cooper County Tax Rate
1.38%
Average Missouri Tax Rate
1.20%
Average United States Tax Rate
0.99%
Property Tax Rates Across Bunceton, Missouri
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 65237 | 0.88% | 1.06% | 1.25% | 1.49% | 1.52% |
Source: Ownwell
Property Tax Assessment Values Across Bunceton, Missouri
In Bunceton, 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 Cooper 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 Bunceton, 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 Bunceton helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The median home price here is $63,700, with annual tax bills ranging from $465 at the 25th percentile to $2,262 at the 90th percentile. The highest and lowest median tax bills are both $764 in the 65237 zip code.
Average Bunceton Assessed Value
$63,700
Average Cooper County Assessed Value
$83,000
Average Missouri Assessed Value
$129,505
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Bunceton, Missouri
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 65237 | $22,200 | $35,400 | $63,700 | $112,350 | $201,700 |
Source: Ownwell
Property Tax Bills Across Bunceton, Missouri
In Bunceton, located in Cooper County, MO, property tax bills are determined based on the assessed value of a home. The assessed value is typically a percentage of the property's market value, which is then multiplied by the local tax rate. Homeowners in Bunceton experience varying tax bills depending on their property's assessed value and the applicable tax rate. For instance, the tax bill at the 25th percentile is around $465, while those at the 75th percentile see bills closer to $1,321. The highest median tax bill in the area is $764, consistent across the zip code 65237. These tax bills have a significant impact on homeowners, as they contribute to the overall cost of owning a home. Compared to the national median property tax rate of 0.99%, Bunceton's property tax rates can influence decisions on purchasing and maintaining properties. Understanding how these taxes are calculated helps homeowners better plan their finances and anticipate annual property-related expenses.
Average Bunceton Tax Bill
$764
Average Cooper County Tax Bill
$1,092
Average Missouri Tax Bill
$1,606
Average United States Tax Bill
$2,690
Property Tax Bills Across Bunceton, Missouri
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 65237 | $302 | $465 | $764 | $1,321 | $2,262 |
Source: Ownwell