Montgomery City, Missouri Property Taxes
The median property tax rate in Montgomery City, MO is 0.91%, which is lower than both the national median of 0.99% and Missouri's state median of 1.20%. With a median home value of $169,050 in Montgomery City, the typical annual property tax bill is $1,531, falling below the national median of $2,690. Property taxes in Montgomery City are calculated based on the tax assessed value, often lower than the market value due to exemptions like the 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 city, 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
0.91%
Estimate Property Tax Bill
$1,538
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 0.91%, which is lower than both the Missouri state median and 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 the highest median property tax rate of 0.91%, while the same zip code also represents the lowest median tax rate of 0.91%. Understanding how these cities compare with Montgomery City 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 Montgomery City Tax Rate
0.91%
Average Morgan County Tax Rate
0.87%
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 | 0.91% | 0.91% | 0.91% | 0.92% | 0.92% |
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 assessment authority 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 highest and lowest median tax bills in Montgomery City are both $1,531, found in the 63361 zip code.
Property Tax Assessment Values Across Montgomery City, Missouri
Source: Ownwell
$1,100
$177,225
$353,350
Average Montgomery City Assessed Value
$169,050
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 Montgomery City, Missouri
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 63361 | $65,090 | $104,075 | $169,050 | $234,025 | $273,010 |
Source: Ownwell
Property Tax Bills Across Montgomery City, Missouri
In Montgomery City, Missouri, property tax bills are calculated based on the assessed value of a home, which is a percentage of its market value. The assessed value is then multiplied by the local tax rate to determine the annual property tax bill. Factors such as the size of the property, location, and any applicable exemptions can influence the assessed value. For homeowners in Montgomery City, the median home price is $169,050. The tax bills vary significantly, with the 25th percentile at $946 and the 75th percentile at $2,116. At the higher end, the 90th percentile tax bill reaches $2,468. The median tax bill in the 63361 zip code, where Montgomery City is located, stands at $1,531, which is above the national median property tax rate of 0.99%. These property taxes directly impact homeowners by contributing to local services such as schools, public safety, and infrastructure. Understanding how these taxes are calculated helps homeowners better anticipate their annual financial obligations.
Average Montgomery City Tax Bill
$1,531
Average Morgan County Tax Bill
$420
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 | $595 | $946 | $1,531 | $2,116 | $2,468 |
Source: Ownwell