Bonne Terre, Missouri Property Taxes
The median property tax rate in Bonne Terre, MO is 1.06%, slightly higher than the national median of 0.99% but lower than the Missouri state median of 1.20%. With a median home value of $139,035 in Bonne Terre, the typical annual property tax bill amounts to $1,512, which is below the national median of $2,690. Property taxes in Bonne Terre are calculated based on the assessed value, often less than the market value due to exemptions like those for primary residences and agricultural properties. Gaining a clear understanding of Bonne Terre's property tax system, exploring available exemptions, and identifying reduction opportunities can lead to substantial yearly savings. Whether you're in the heart of Bonne Terre or another part of Ste. Genevieve County, understanding the local property tax system is advantageous for 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
1.06%
Estimate Property Tax Bill
$1,474
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, are vital in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Bonne Terre is 1.06%, higher than both the Missouri state median and 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 areas in Missouri and the national median. For comparison, the 63628 zip code has the highest median property tax rate of 1.06%, while the same zip code also has the lowest median tax rate of 1.06%. Understanding how these areas compare with Bonne Terre provides valuable insights into the varying tax landscape across Ste. Genevieve County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Bonne Terre Tax Rate
1.06%
Average Ste. Genevieve County Tax Rate
0.85%
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 | 0.83% | 0.97% | 1.06% | 1.10% | 1.13% |
Source: Ownwell
Property Tax Assessment Values Across Bonne Terre, Missouri
In Bonne Terre, 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 Ste. Genevieve 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. 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 Bonne Terre helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The zip code 63628 has the highest and lowest median tax bill, both at $1,512, reflecting the uniformity in assessed values.
Average Bonne Terre Assessed Value
$139,035
Average Ste. Genevieve County Assessed Value
$98,970
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 | $45,245 | $97,878 | $139,035 | $183,012 | $248,940 |
Source: Ownwell
Property Tax Bills Across Bonne Terre, Missouri
In Bonne Terre, located in Ste. Genevieve County, MO, property tax bills are calculated based on the assessed value of a home. The assessed value is a percentage of the property's market value, which is determined by the local assessor. Homeowners in this region see property tax bills that vary significantly. For instance, the tax bill for the 25th percentile is approximately $992, while those in the 75th percentile pay around $1,911. The highest median tax bill in the area is $1,512, which is notably lower than the national median property tax rate of 0.99%. Several factors influence the tax bill, including the property's assessed value, local tax rates, and any applicable exemptions or deductions. This variation impacts homeowners differently, with some paying significantly more than others. Understanding these elements is crucial for homeowners to manage their financial obligations effectively. For those in Bonne Terre, being aware of how these factors come together can help in planning and budgeting for annual property taxes.
Average Bonne Terre Tax Bill
$1,512
Average Ste. Genevieve County Tax Bill
$853
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 | $392 | $992 | $1,512 | $1,911 | $2,559 |
Source: Ownwell