Bethany, Missouri Property Taxes
The median property tax rate in Bethany, MO is 1.31%, considerably higher than both the national median of 0.99% and the Missouri state median of 1.20%. With the median home value in Bethany at $45,710, the typical annual property tax bill reaches $576, which is below the national median of $2,690. Property taxes in Bethany are calculated based on the tax assessed value, which typically falls below the market value due to various exemptions like the primary residence and agricultural exemptions. Understanding Bethany'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 Bethany or another part of Harrison County, understanding the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Bethany, 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 Bethany Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Bethany with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Bethany 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 Bethany, Missouri
Property taxes in Bethany, Missouri, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Bethany is 1.31%, which is significantly higher than both the Missouri state median and the U.S. national median of 0.99%. Local government entities within Bethany set these rates annually, and they can vary significantly across different neighborhoods. Each year, Bethany 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 Bethany's effective property tax rate to other counties in Missouri and the national median. For comparison, the 64424 zip code has both the highest and lowest median property tax rate of 1.31%. Understanding how these cities compare with Bethany provides valuable insights into the varying tax landscape across Harrison County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Bethany Tax Rate
1.31%
Average Harrison County Tax Rate
1.31%
Average Missouri Tax Rate
1.20%
Average United States Tax Rate
0.99%
Property Tax Rates Across Bethany, Missouri
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 64424 | 1.08% | 1.28% | 1.31% | 1.31% | 1.31% |
Source: Ownwell
Property Tax Assessment Values Across Bethany, Missouri
In Bethany, 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 Harrison 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 Bethany, 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. The median home price in Bethany is $45,710, with tax bills ranging from $265 at the 25th percentile to $1,695 at the 90th percentile. The zip code 64424 has both the highest and lowest median tax bill at $576. 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 Bethany helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Bethany Assessed Value
$45,710
Average Harrison County Assessed Value
$35,200
Average Missouri Assessed Value
$129,505
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Bethany, Missouri
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 64424 | $5,903 | $20,460 | $45,710 | $82,928 | $137,864 |
Source: Ownwell
Property Tax Bills Across Bethany, Missouri
In Bethany, MO, property tax bills are calculated based on the assessed value of a home, which is a percentage of its market value. For instance, with a median home price of $45,710, the assessed value is then multiplied by the local tax rate to determine the tax bill. Factors such as property improvements, market trends, and local government budgets influence this calculation. Homeowners in Bethany experience a range of tax bills, with the 25th percentile at $265 and the 75th percentile reaching $1,017, while the 90th percentile can go up to $1,695. The highest median tax bill in the area is $576, which is significantly lower than the national median property tax rate of 0.99%. These tax bills directly impact homeowners by affecting their annual expenses and potentially influencing their decisions on property investments and improvements. Understanding these factors can help homeowners better anticipate their financial obligations and make informed decisions regarding their properties.
Average Bethany Tax Bill
$576
Average Harrison County Tax Bill
$480
Average Missouri Tax Bill
$1,606
Average United States Tax Bill
$2,690
Property Tax Bills Across Bethany, Missouri
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 64424 | $78 | $265 | $576 | $1,017 | $1,695 |
Source: Ownwell