Montgomery City, Missouri Property Taxes
The median property tax rate in Montgomery City, MO is 1.06%, 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 $72,500 in Montgomery City, the typical annual property tax bill amounts to $771, which is below the national median of $2,690. Property taxes in Montgomery City are calculated based on the tax assessed value, which is often less than the market value due to exemptions like primary residence and agricultural exemptions. Understanding Montgomery City'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 Montgomery City or another part of the county, understanding the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Montgomery City, Missouri Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.06%
Estimate Property Tax Bill
$769
Ownwell’s Montgomery City Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Montgomery City with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Montgomery City 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 Montgomery City, Missouri
Property taxes in Montgomery City, Missouri, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Montgomery City is 1.06%, higher than the U.S. national median of 0.99%. Local government entities within Montgomery City set these rates annually, and they can vary significantly across different neighborhoods. Each year, Montgomery City 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 Montgomery City's effective property tax rate to other counties in Missouri and the national median. For comparison, the 63361 zip code has both the highest and lowest median property tax rate of 1.06%. Understanding how these areas compare with Montgomery City provides valuable insights into the varying tax landscape across Montgomery County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Montgomery City Tax Rate
1.06%
Average Montgomery County Tax Rate
1.11%
Average Missouri Tax Rate
1.20%
Average United States Tax Rate
0.99%
Property Tax Rates Across Montgomery City, Missouri
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 63361 | 1.05% | 1.05% | 1.06% | 1.06% | 1.10% |
Source: Ownwell
Property Tax Assessment Values Across Montgomery City, Missouri
In Montgomery City, 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 local 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 Montgomery City, 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 Montgomery City helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The median home price in Montgomery City is $72,500, with tax bills ranging from $397 at the 25th percentile to $1,817 at the 90th percentile. The zip code 63361 has both the highest and lowest median tax bill, standing at $771.
Average Montgomery City Assessed Value
$72,500
Average Montgomery County Assessed Value
$47,300
Average Missouri Assessed Value
$129,505
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Montgomery City, Missouri
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 63361 | $7,900 | $36,600 | $72,500 | $116,200 | $168,500 |
Source: Ownwell
Property Tax Bills Across Montgomery City, Missouri
In Montgomery City, MO, property tax bills are calculated based on the assessed value of a home, which is a percentage of its market value. For instance, a home with a median market price of $72,500 would have its assessed value determined by local assessment rates. The tax rate is then applied to this assessed value to calculate the annual tax bill. Several factors influence the final tax bill, including the property's location within Montgomery County and any applicable exemptions. For homeowners, the tax bill can vary significantly. The 25th percentile tax bill is around $397, while the 75th percentile reaches $1,233, and the 90th percentile can go up to $1,817. These figures reflect the range of property taxes homeowners might expect to pay, depending on the assessed value and specific circumstances of their property. Comparatively, the median property tax rate in Montgomery City is relatively lower than the national median of 0.99%, offering some relief to homeowners in this region.
Average Montgomery City Tax Bill
$771
Average Montgomery County Tax Bill
$560
Average Missouri Tax Bill
$1,606
Average United States Tax Bill
$2,690
Property Tax Bills Across Montgomery City, Missouri
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 63361 | $107 | $397 | $771 | $1,233 | $1,817 |
Source: Ownwell