Bonner Springs, Missouri Property Taxes
The median property tax rate in Bonner Springs, MO is 0.85%, which is lower than both the national median of 0.99% and the Missouri state median of 1.20%. With a median home value of $6,100 in Bonner Springs, the typical annual property tax bill amounts to $52, significantly below the national median of $2,690. Property taxes in Bonner Springs are calculated based on the tax assessed value, which is often less than the market value due to various exemptions, including those for primary residences and agricultural properties. Navigating Bonner Springs' property tax system, exploring available exemptions, and finding opportunities for reductions can lead to substantial annual savings. Whether you're in the heart of Bonner Springs or another part of the city, understanding the local property tax system is advantageous for both homeowners and real estate investors.
Last Updated June 14, 2024
Bonner Springs, Missouri Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.85%
Estimate Property Tax Bill
$52
Ownwell’s Bonner Springs Property Tax Bill Calculator empowers homeowners, real estate investors, and potential buyers to estimate their annual property taxes in Bonner Springs with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Bonner Springs 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 Bonner Springs, Missouri
Property taxes in Bonner Springs, Missouri, are vital in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Bonner Springs is 0.85%, lower than the U.S. national median of 0.99%. Local government entities within Bonner Springs set these rates annually, and they can vary significantly across different neighborhoods. Each year, Bonner Springs 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 Bonner Springs' effective property tax rate to other counties in Missouri and the national median. For comparison, the 66012 zip code has the highest median property tax rate of 0.85%, while the 66012 zip code also has the lowest median tax rate of 0.85%. Understanding how these cities compare with Bonner Springs provides valuable insights into the varying tax landscape across Morgan County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Bonner Springs Tax Rate
0.85%
Average Morgan County Tax Rate
0.87%
Average Missouri Tax Rate
1.20%
Average United States Tax Rate
0.99%
Property Tax Rates Across Bonner Springs, Missouri
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 66012 | 0.85% | 0.85% | 0.85% | 0.85% | 0.85% |
Source: Ownwell
Property Tax Assessment Values Across Bonner Springs, Missouri
In Bonner Springs, 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 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 Bonner Springs, 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 Bonner Springs helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The zip codes with the highest and lowest tax bills in Bonner Springs are both at $52, reflecting a consistency across the region.
Average Bonner Springs Assessed Value
$6,100
Average Morgan County Assessed Value
$49,350
Average Missouri Assessed Value
$129,505
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Bonner Springs, Missouri
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 66012 | $6,100 | $6,100 | $6,100 | $6,100 | $6,100 |
Source: Ownwell
Property Tax Bills Across Bonner Springs, Missouri
In Bonner Springs, located in Morgan County, MO, property tax bills are calculated based on the assessed value of your property, which is derived from its market value. The median home price in this area is relatively low at $6,100, which directly impacts the property tax bills. The assessed value is then multiplied by the local tax rate to determine the final tax bill. For instance, homeowners at the 25th, 75th, and 90th percentiles all have a tax bill of $52, suggesting a uniform tax rate application within this range. Several factors influence the assessed value, including property location, condition, and comparable market values. This method ensures that homeowners contribute fairly to local services and infrastructure based on their property's worth. Compared to the national median property tax rate of 0.99%, the tax rate in Bonner Springs appears to be significantly lower, making it a more affordable location for homeowners. This lower tax burden can be beneficial for residents, allowing them to allocate more of their budget towards other expenses.
Average Bonner Springs Tax Bill
$52
Average Morgan County Tax Bill
$420
Average Missouri Tax Bill
$1,606
Average United States Tax Bill
$2,690
Property Tax Bills Across Bonner Springs, Missouri
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 66012 | $52 | $52 | $52 | $52 | $52 |
Source: Ownwell