Centertown, Missouri Property Taxes
The median property tax rate in Centertown, MO is 0.97%, slightly below the national median of 0.99% and significantly lower than the Missouri state median of 1.20%. With the median home value in Centertown at $123,500, the typical annual property tax bill reaches $1,216, which is well below the national median of $2,690. Property taxes in Centertown 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 Centertown'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 Centertown 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
Centertown, Missouri Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.97%
Estimate Property Tax Bill
$1,198
Ownwell’s CENTERTOWN Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in CENTERTOWN with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in CENTERTOWN 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 Centertown, Missouri
Property taxes in Centertown, Missouri, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Centertown is 0.97%, slightly below the U.S. national median of 0.99%. Local government entities within Centertown set these rates annually, and they can vary significantly across different neighborhoods. Each year, Centertown 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 Centertown's effective property tax rate to other areas in Missouri and the national median. For comparison, the 65023 zip code has the highest median property tax rate of 0.97%, while the same zip code also has the lowest median tax rate of 0.97%. Understanding how these areas compare with Centertown provides valuable insights into the varying tax landscape across Moniteau County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Centertown Tax Rate
0.97%
Average Moniteau County Tax Rate
1.03%
Average Missouri Tax Rate
1.20%
Average United States Tax Rate
0.99%
Property Tax Rates Across Centertown, Missouri
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 65023 | 0.91% | 0.96% | 0.97% | 1.04% | 2.16% |
Source: Ownwell
Property Tax Assessment Values Across Centertown, Missouri
In Centertown, 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 Moniteau 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 Centertown, 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 Centertown helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. Notably, the zip code 65023 has the highest median tax bill of $1216.
Average Centertown Assessed Value
$123,500
Average Moniteau County Assessed Value
$88,800
Average Missouri Assessed Value
$129,505
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Centertown, Missouri
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 65023 | $31,860 | $81,300 | $123,500 | $155,900 | $221,700 |
Source: Ownwell
Property Tax Bills Across Centertown, Missouri
In Centertown, Moniteau County, MO, property tax bills are calculated based on the assessed value of a home, which is determined by the county assessor. The assessed value is a percentage of the property's market value, and this figure is then multiplied by the local tax rate to determine the annual tax bill. For example, with a median home price of $123,500, homeowners in Centertown can expect a property tax bill ranging from $864 at the 25th percentile to $3,174 at the 90th percentile. Several factors influence the final tax bill, including property size, location, and any applicable exemptions. The tax rate in Centertown is compared to the national median property tax rate of 0.99%, providing a reference point for homeowners to understand their tax obligations. Higher property taxes can impact homeowners by increasing their annual expenses, but they also contribute to essential local services like schools, infrastructure, and emergency services, enhancing the community's overall quality of life.
Average Centertown Tax Bill
$1,216
Average Moniteau County Tax Bill
$1,018
Average Missouri Tax Bill
$1,606
Average United States Tax Bill
$2,690
Property Tax Bills Across Centertown, Missouri
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 65023 | $333 | $864 | $1,216 | $1,753 | $3,174 |
Source: Ownwell