Middletown, Missouri Property Taxes
The median property tax rate in Middletown, MO is 0.90%, which is lower than both the national median of 0.99% and the Missouri state median of 1.20%. With the median home value in Middletown at $104,921, the typical annual property tax bill amounts to $895, significantly below the national median of $2,690. Property taxes in Middletown are based on the tax assessed value, which is often less than the market value due to various exemptions, including those for primary residences and agricultural properties. By understanding Middletown's property tax system, exploring available exemptions, and identifying opportunities for reductions, homeowners and real estate investors can achieve substantial annual savings. Whether you're residing in the core of Middletown or elsewhere in Audrain County, gaining insight into the local property tax structure will be beneficial.
Last Updated June 14, 2024
Middletown, 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 Middletown Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Middletown with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Middletown 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 Middletown, Missouri
Property taxes in Middletown, Missouri, are crucial for funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Middletown is 0.90%, which is below the U.S. national median of 0.99%. Local government entities within Middletown set these rates annually, and they can vary significantly across different neighborhoods. Each year, Middletown 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 Middletown's effective property tax rate to other counties in Missouri and the national median. For comparison, the zip code 63359 in Audrain County has the same median property tax rate of 0.90%. Understanding how these areas compare with Middletown provides valuable insights into the varying tax landscape across Audrain County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Middletown Tax Rate
0.90%
Average Audrain County Tax Rate
1.20%
Average Missouri Tax Rate
1.20%
Average United States Tax Rate
0.99%
Property Tax Rates Across Middletown, Missouri
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 63359 | 0.79% | 0.81% | 0.90% | 1.21% | 1.24% |
Source: Ownwell
Property Tax Assessment Values Across Middletown, Missouri
In Middletown, 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 Audrain 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 Middletown, 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 Middletown helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The highest and lowest median tax bills in the area are both $895, found in the zip code 63359.
Average Middletown Assessed Value
$104,921
Average Audrain County Assessed Value
$51,626
Average Missouri Assessed Value
$129,505
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Middletown, Missouri
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 63359 | $25,776 | $49,480 | $104,921 | $120,001 | $221,097 |
Source: Ownwell
Property Tax Bills Across Middletown, Missouri
In Middletown, Audrain County, MO, property tax bills are calculated based on the assessed value of your home and the local tax rate. The assessed value is typically a percentage of the market value of your property. Local tax authorities then apply the tax rate to this assessed value to determine your annual property tax bill. For example, with a median home price of $104,921, homeowners in Middletown can expect varying tax bills. At the 25th percentile, the tax bill is around $400, while at the 75th percentile, it rises to approximately $1,352. Those in the 90th percentile could see tax bills as high as $2,149. This range of tax bills reflects the different property values and individual circumstances within the city. Comparatively, the highest and lowest median tax bills in the area are both $895, indicating some consistency in property tax assessments. Understanding these factors can help homeowners better anticipate their financial obligations and plan accordingly.
Average Middletown Tax Bill
$895
Average Audrain County Tax Bill
$587
Average Missouri Tax Bill
$1,606
Average United States Tax Bill
$2,690
Property Tax Bills Across Middletown, Missouri
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 63359 | $260 | $400 | $895 | $1,352 | $2,149 |
Source: Ownwell