Portland, Missouri Property Taxes
The median property tax rate in Portland, MO is 1.30%, considerably higher than both the national median of 0.99% and the Missouri state median of 1.20%. With the median home value in Portland, the typical annual property tax bill reaches $55, exceeding the national median of $2,690. Property taxes in Portland 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 Portland'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 Portland 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
Portland, Missouri Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.3%
Estimate Property Tax Bill
$54
Ownwell’s Portland Property Tax Bill Calculator is an essential tool for homeowners, real estate investors, and potential buyers to estimate their annual property taxes in Portland with just two simple data points. By inputting your property's estimated assessed value, the calculator utilizes the median tax rate in Portland to provide an accurate estimate of your property tax bill. This valuable tool offers insight into potential tax liabilities, helping you make informed financial decisions. For those interested in more granular data, you can scroll down to explore trends at the neighborhood level. Your property’s assessed value is determined by Morgan County for tax purposes, taking into account any applicable exemptions.
Property Tax Rates Across Portland, Missouri
Property taxes in Portland, Missouri, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Portland is 1.30%, significantly higher than the U.S. national median of 0.99%. Local government entities within Portland set these rates annually, and they can vary significantly across different neighborhoods. Each year, Portland 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 Portland's effective property tax rate to other counties in Missouri and the national median. For comparison, the 65067 zip code has the highest median property tax rate of 1.30%, while the same 65067 zip code also has the lowest median tax rate of 1.30%. Understanding how these cities compare with Portland 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 Portland Tax Rate
1.30%
Average Morgan County Tax Rate
0.87%
Average Missouri Tax Rate
1.20%
Average United States Tax Rate
0.99%
Property Tax Rates Across Portland, Missouri
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 65067 | 1.25% | 1.27% | 1.30% | 1.34% | 1.36% |
Source: Ownwell
Property Tax Assessment Values Across Portland, Missouri
In Portland, 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 Portland, 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 Portland helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The median home price in Portland is $4,150, with tax bills ranging from $45 at the 25th percentile to $70 at the 90th percentile.
Average Portland Assessed Value
$4,150
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 Portland, Missouri
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 65067 | $3,150 | $3,525 | $4,150 | $4,775 | $5,150 |
Source: Ownwell
Property Tax Bills Across Portland, Missouri
In Portland, located in Morgan County, MO, property tax bills are determined by assessing the market value of a property and applying the local tax rate to this value. The median home price in Portland is $4,150, significantly lower than the national median, which influences the overall tax bill. Factors such as property improvements, location, and market conditions play a crucial role in determining the assessed value. For homeowners, this means their annual tax bill can vary within certain percentiles. For instance, the tax bill at the 25th percentile is $45, while at the 75th percentile, it rises to $64. At the 90th percentile, homeowners can expect a tax bill of around $70. These figures highlight the range of property tax obligations within the community, which can impact household budgets and financial planning. Understanding these factors helps homeowners anticipate their property tax responsibilities and manage their finances accordingly.
Average Portland Tax Bill
$55
Average Morgan County Tax Bill
$420
Average Missouri Tax Bill
$1,606
Average United States Tax Bill
$2,690
Property Tax Bills Across Portland, Missouri
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 65067 | $40 | $45 | $55 | $64 | $70 |
Source: Ownwell