Bonne Terre, Missouri Property Taxes
The median property tax rate in Bonne Terre, MO is 1.02%, slightly above the national median of 0.99% but lower than the Missouri state median of 1.20%. With the median home value in Bonne Terre at $71,310, the typical annual property tax bill is $724, which is significantly below the national median of $2,690. Property taxes in Bonne Terre are calculated based on the tax assessed value, which is often lower than the market value due to various exemptions such as primary residence and agricultural exemptions. Understanding Bonne Terre'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 Bonne Terre or another part of St. Francois County, understanding the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Bonne Terre, Missouri Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.02%
Estimate Property Tax Bill
$727
Ownwell’s Bonne Terre Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Bonne Terre with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Bonne Terre 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 Bonne Terre, Missouri
Property taxes in Bonne Terre, Missouri, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Bonne Terre is 1.02%, higher than the U.S. national median of 0.99%. Local government entities within Bonne Terre set these rates annually, and they can vary significantly across different neighborhoods. Each year, Bonne Terre 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 Bonne Terre's effective property tax rate to other counties in Missouri and the national median. For comparison, the 63628 zip code has the highest median property tax rate of 1.02%, while the 63628 zip code also has the lowest median tax rate of 1.02%. Understanding how these cities compare with Bonne Terre provides valuable insights into the varying tax landscape across St. Francois County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Bonne Terre Tax Rate
1.02%
Average St. Francois County Tax Rate
1.00%
Average Missouri Tax Rate
1.20%
Average United States Tax Rate
0.99%
Property Tax Rates Across Bonne Terre, Missouri
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 63628 | 0.94% | 1.00% | 1.02% | 1.03% | 1.13% |
Source: Ownwell
Property Tax Assessment Values Across Bonne Terre, Missouri
Understanding the difference between "market value" and "assessed value" is crucial for comprehending property taxes in Bonne Terre, Missouri. 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 St. Francois 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 Bonne Terre, 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. For instance, the median home price in Bonne Terre is $71,310, with tax bills ranging from $343 at the 25th percentile to $1,906 at the 90th percentile. 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 helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Bonne Terre Assessed Value
$71,310
Average St. Francois County Assessed Value
$72,730
Average Missouri Assessed Value
$129,505
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Bonne Terre, Missouri
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 63628 | $13,010 | $33,740 | $71,310 | $129,855 | $191,670 |
Source: Ownwell
Property Tax Bills Across Bonne Terre, Missouri
In Bonne Terre, located in St. Francois County, MO, property tax bills are calculated based on the assessed value of a home. The median home price in this area is $71,310. Property taxes are determined by multiplying the assessed value by the local tax rate. Homeowners in Bonne Terre can expect their tax bills to vary significantly, with the 25th percentile at $343 and the 75th percentile reaching $1,310. For those at the 90th percentile, tax bills can be as high as $1,906. Several factors influence these amounts, including the property's assessed value, applicable exemptions, and the local tax rate. The highest and lowest median tax bills in the area are both $724, found in the 63628 zip code. Compared to the national median property tax rate of 0.99%, homeowners in Bonne Terre may find their rates relatively manageable, though the impact on individual finances can vary widely. Understanding these factors is crucial for homeowners to plan their finances effectively.
Average Bonne Terre Tax Bill
$724
Average St. Francois County Tax Bill
$732
Average Missouri Tax Bill
$1,606
Average United States Tax Bill
$2,690
Property Tax Bills Across Bonne Terre, Missouri
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 63628 | $133 | $343 | $724 | $1,310 | $1,906 |
Source: Ownwell