Bonnots Mill, Missouri Property Taxes
The median property tax rate in Bonnots Mill, MO is 0.89%, 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 $27,600 in Bonnots Mill, the typical annual property tax bill is $228, significantly below the national median of $2,690. Property taxes in Bonnots Mill are calculated based on the tax assessed value, which often falls below the market value due to various exemptions such as primary residence and agricultural exemptions. Understanding Bonnots Mill's property tax system, exploring available exemptions, and identifying opportunities for reductions can lead to substantial annual savings. Whether you're in the heart of Bonnots Mill or another part of Osage County, understanding the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Bonnots Mill, 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 Bonnot’s Mill Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Bonnot’s Mill with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Bonnot’s Mill 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 Bonnots Mill, Missouri
Property taxes in Bonnots Mill, Missouri, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Bonnots Mill is 0.89%, which is lower than the U.S. national median of 0.99%. Local government entities within Bonnots Mill set these rates annually, and they can vary significantly across different neighborhoods. Each year, Bonnots Mill 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 Bonnots Mill's effective property tax rate to other areas in Osage County and the national median. For comparison, the zip code 65016 has both the highest and lowest median property tax rate of 0.89%. Understanding how these areas compare with Bonnots Mill provides valuable insights into the varying tax landscape across Osage County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Bonnots Mill Tax Rate
0.89%
Average Osage County Tax Rate
0.86%
Average Missouri Tax Rate
1.20%
Average United States Tax Rate
0.99%
Property Tax Rates Across Bonnots Mill, Missouri
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 65016 | 0.57% | 0.67% | 0.89% | 0.90% | 0.90% |
Source: Ownwell
Property Tax Assessment Values Across Bonnots Mill, Missouri
In Bonnots Mill, 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 Osage County Assessor 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 Bonnots Mill, 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 Bonnots Mill helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The median home price in this area is $27,600, and the highest and lowest median tax bills are both $228 in the 65016 zip code.
Average Bonnots Mill Assessed Value
$27,600
Average Osage County Assessed Value
$30,816
Average Missouri Assessed Value
$129,505
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Bonnots Mill, Missouri
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 65016 | $4,129 | $13,428 | $27,600 | $50,122 | $79,041 |
Source: Ownwell
Property Tax Bills Across Bonnots Mill, Missouri
In Bonnot's Mill, Osage County, MO, property tax bills are calculated based on the assessed value of a home, which is typically a percentage of the market value. For example, with a median home price of $27,600, the assessed value is determined by the county assessor's office. The property tax rate is then applied to this assessed value to determine the annual tax bill. Several factors influence the tax bill, including the property's assessed value, local tax rates, and any applicable exemptions. Homeowners in Bonnot's Mill can expect a tax bill ranging from $118 at the 25th percentile to $627 at the 90th percentile, reflecting variations in property values and tax rates within the area. The median tax bill stands at $228, which is significantly lower than the national median property tax rate of 0.99%. For homeowners, understanding these calculations is crucial as it impacts annual budgeting and long-term financial planning. Lower property taxes can be beneficial, but they also reflect the local government's revenue and the quality of public services.
Average Bonnots Mill Tax Bill
$228
Average Osage County Tax Bill
$261
Average Missouri Tax Bill
$1,606
Average United States Tax Bill
$2,690
Property Tax Bills Across Bonnots Mill, Missouri
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 65016 | $43 | $118 | $228 | $379 | $627 |
Source: Ownwell