Prairie Home, Missouri Property Taxes
The median property tax rate in Prairie Home, MO is 1.13%, slightly higher than the national median of 0.99% but lower than the Missouri state median of 1.20%. With a median home value of $136,150 in Prairie Home, the typical annual property tax bill amounts to $1,659, which is below the national median of $2,690. Property taxes in Prairie Home are based on the tax assessed value, often lower than the market value due to exemptions like the primary residence and agricultural exemptions. Understanding Prairie Home'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 Prairie Home or another part of Moniteau County, comprehending the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Prairie Home, 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 Prairie Home Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Prairie Home with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Prairie Home 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 Prairie Home, Missouri
Property taxes in Prairie Home, Missouri, are essential for funding critical local services such as public schools, road maintenance, and emergency services. The median tax rate in Prairie Home is 1.13%, higher than the U.S. national median of 0.99%. Local government entities within Prairie Home set these rates annually, and they can vary significantly across different neighborhoods. Each year, Prairie Home 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 Prairie Home's effective property tax rate to other areas and the national median. For comparison, the zip code 65068 has both the highest and lowest median property tax rate of 1.13%. Understanding how these areas compare with Prairie Home 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 Prairie Home Tax Rate
1.13%
Average Moniteau County Tax Rate
1.03%
Average Missouri Tax Rate
1.20%
Average United States Tax Rate
0.99%
Property Tax Rates Across Prairie Home, Missouri
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 65068 | 1.10% | 1.12% | 1.13% | 1.14% | 3.90% |
Source: Ownwell
Property Tax Assessment Values Across Prairie Home, Missouri
In Prairie Home, 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 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 Prairie Home, 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 Prairie Home 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 $1659, found in zip code 65068.
Average Prairie Home Assessed Value
$136,150
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 Prairie Home, Missouri
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 65068 | $79,080 | $113,850 | $136,150 | $156,200 | $184,670 |
Source: Ownwell
Property Tax Bills Across Prairie Home, Missouri
Property tax bills in Prairie Home, situated in Moniteau County, MO, are calculated based on the assessed value of a property. The assessed value is a percentage of the market value, determined by the county assessor. Once the assessed value is established, the local tax rate is applied to calculate the annual tax bill. Factors influencing the tax bill include property location, market conditions, and any applicable exemptions or deductions. For homeowners in Prairie Home, the median home price stands at $136,150. The property tax rate in Moniteau County is relatively moderate compared to the national median property tax rate of 0.99%. Homeowners in the 25th percentile pay around $1,422 annually, while those in the 75th percentile face a tax bill of approximately $2,041. At the higher end, the 90th percentile sees tax bills soaring to $3,755. These property taxes are crucial for funding local services such as schools, infrastructure, and emergency services, directly impacting the quality of life for residents.
Average Prairie Home Tax Bill
$1,659
Average Moniteau County Tax Bill
$1,018
Average Missouri Tax Bill
$1,606
Average United States Tax Bill
$2,690
Property Tax Bills Across Prairie Home, Missouri
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 65068 | $1,258 | $1,422 | $1,659 | $2,041 | $3,755 |
Source: Ownwell