Plattsmouth, Missouri Property Taxes
The median property tax rate in Plattsmouth, MO is 2.29%, considerably higher than both the national median of 0.99% and the Missouri state median of 1.20%. With the median home value in Plattsmouth, the typical annual property tax bill reaches $41, which is significantly lower than the national median of $2,690. Property taxes in Plattsmouth 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 Plattsmouth'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 Plattsmouth 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
Plattsmouth, 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 Plattsmouth Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Plattsmouth with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Plattsmouth 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 Plattsmouth, Missouri
Property taxes in Plattsmouth, Missouri, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Plattsmouth is 1.50%, significantly higher than the Missouri state median of 0.91% and the U.S. national median of 0.99%. Local government entities within Plattsmouth set these rates annually, and they can vary significantly across different neighborhoods. Each year, Plattsmouth 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 Plattsmouth's effective property tax rate to other counties in Missouri and the national median. For comparison, the 64068 zip code has the highest median property tax rate of 1.69%, while the 64024 zip code has the lowest median tax rate of 1.33%. Understanding how these cities compare with Plattsmouth 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 Plattsmouth Tax Rate
2.29%
Average Morgan County Tax Rate
0.87%
Average Missouri Tax Rate
1.20%
Average United States Tax Rate
0.99%
Property Tax Rates Across Plattsmouth, Missouri
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|
Source: Ownwell
Property Tax Assessment Values Across Plattsmouth, Missouri
In Plattsmouth, 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 Morgan 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 Plattsmouth, 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 Plattsmouth helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The zip code with the highest tax bills in the area is 29141, while the lowest is also 29141, reflecting a median home price of $1,800.
Average Plattsmouth Assessed Value
$1,800
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 Plattsmouth, Missouri
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|
Source: Ownwell
Property Tax Bills Across Plattsmouth, Missouri
In Plattsmouth, property tax bills are calculated based on the assessed value of the property. The local government determines this value by evaluating the property's market value and then applying an assessment ratio. Once the assessed value is established, the tax rate, known as the mill rate, is applied. This rate is set by local taxing authorities and can vary based on budgetary needs for public services such as schools, infrastructure, and emergency services. Factors that influence the assessed value include the property's location, size, condition, and any improvements made. In Morgan County, the median home price is relatively low at $1,800, which means that even slight changes in the assessed value can significantly impact the tax bill. For instance, the tax bill remains consistent across different percentiles, with the 25th, 75th, and 90th percentiles all seeing a tax bill of $41. This uniformity suggests a stable tax rate but highlights how even small fluctuations in property value can affect homeowners' expenses. Compared to the national median property tax rate of 0.99%, homeowners in Plattsmouth may find their property tax rates to be more manageable.
Average Plattsmouth Tax Bill
$41
Average Morgan County Tax Bill
$420
Average Missouri Tax Bill
$1,606
Average United States Tax Bill
$2,690
Property Tax Bills Across Plattsmouth, Missouri
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|
Source: Ownwell