Mountain Grove, Missouri Property Taxes
The median property tax rate in Mountain Grove, MO is 0.55%, significantly lower than both the national median of 0.99% and the Missouri state median of 1.20%. With the median home value in Mountain Grove, the typical annual property tax bill is $330, far below the national median of $2,690. Property taxes in Mountain Grove are calculated based on the tax assessed value, which often falls below the market value due to various exemptions like the primary residence and agricultural exemptions. Understanding Mountain Grove'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 Mountain Grove or another part of Wright County, understanding the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Mountain Grove, Missouri Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.55%
Estimate Property Tax Bill
$318
Ownwell’s Mountain Grove Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Mountain Grove with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Mountain Grove 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 Mountain Grove, Missouri
Property taxes in Mountain Grove, Missouri, are crucial for funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Mountain Grove is 0.55%, which is lower than both the Missouri state median and the U.S. national median of 0.99%. Local government entities within Mountain Grove set these rates annually, and they can vary significantly across different neighborhoods. Each year, Mountain Grove 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 Mountain Grove's effective property tax rate to other counties in Missouri and the national median. For comparison, the zip code 65711 has the highest median property tax rate of 0.55%, while the same zip code also has the lowest median tax rate of 0.55%. Understanding how these cities compare with Mountain Grove provides valuable insights into the varying tax landscape across Wright County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Mountain Grove Tax Rate
0.55%
Average Wright County Tax Rate
0.60%
Average Missouri Tax Rate
1.20%
Average United States Tax Rate
0.99%
Property Tax Rates Across Mountain Grove, Missouri
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 65711 | 0.54% | 0.55% | 0.55% | 0.59% | 0.68% |
Source: Ownwell
Property Tax Assessment Values Across Mountain Grove, Missouri
In Mountain Grove, 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 Wright 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 Mountain Grove, 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 Mountain Grove helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The highest and lowest median tax bills in Mountain Grove are both $330.00, found in the zip code 65711.
Average Mountain Grove Assessed Value
$57,736
Average Wright County Assessed Value
$57,736
Average Missouri Assessed Value
$129,505
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Mountain Grove, Missouri
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 65711 | $16,405 | $30,749 | $57,736 | $102,473 | $153,689 |
Source: Ownwell
Property Tax Bills Across Mountain Grove, Missouri
In Mountain Grove, Wright County, MO, property tax bills are calculated based on the assessed value of a home, which is a percentage of its market value. The median home price in Mountain Grove is $57,736. Local tax authorities determine the assessed value and apply the local property tax rate to calculate the tax bill. Various factors such as property size, location, and improvements influence the assessed value. Homeowners in Mountain Grove experience a range of tax bills. For instance, the tax bill at the 25th percentile is $181, while at the 75th percentile, it is $578. Those at the 90th percentile see tax bills as high as $850. The highest and lowest median tax bills in the area are both $330, indicating a relatively consistent tax burden across different properties. Compared to the national median property tax rate of 0.99%, Mountain Grove's property taxes can be considered moderate, providing a manageable financial impact on homeowners.
Average Mountain Grove Tax Bill
$330
Average Wright County Tax Bill
$358
Average Missouri Tax Bill
$1,606
Average United States Tax Bill
$2,690
Property Tax Bills Across Mountain Grove, Missouri
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 65711 | $106 | $181 | $330 | $578 | $850 |
Source: Ownwell