Billings, Missouri Property Taxes
The median property tax rate in Billings, MO is 0.98%, slightly lower than both the national median of 0.99% and the Missouri state median of 1.20%. With the median home value in Billings at $143,400, the typical annual property tax bill reaches $1,320, which is below the national median of $2,690. Property taxes in Billings are calculated based on the tax assessed value, which typically falls below the market value due to various exemptions like the primary residence and agricultural exemptions. Understanding Billings' property tax system, exploring available exemptions, and identifying opportunities for reductions can lead to significant annual savings. Whether you're in the heart of Billings or another part of the city, understanding the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Billings, 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 Billings Property Tax Bill Calculator assists homeowners, real estate investors, and potential buyers in estimating their annual property taxes in Billings with just two data points. By entering your property's estimated assessed value, the calculator uses the median tax rate in Billings to project your property tax bill. This valuable tool helps you grasp potential tax obligations. For those curious about trends at the neighborhood level, scroll down for more localized details. Your property’s assessed value is determined by the county for property tax purposes, taking into account any applicable exemptions.
Property Tax Rates Across Billings, Missouri
Property taxes in Billings, Missouri, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Billings is 0.98%, slightly lower than the U.S. national median of 0.99%. Local government entities within Billings set these rates annually, and they can vary significantly across different neighborhoods. Each year, Billings 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 Billings' effective property tax rate to other counties in Missouri and the national median. For comparison, the 65610 zip code has the highest median property tax rate of 0.98%, while the same zip code also has the lowest median tax rate of 0.98%. Understanding how these cities compare with Billings provides valuable insights into the varying tax landscape across Christian County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Billings Tax Rate
0.98%
Average Christian County Tax Rate
1.08%
Average Missouri Tax Rate
1.20%
Average United States Tax Rate
0.99%
Property Tax Rates Across Billings, Missouri
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 65610 | 0.83% | 0.91% | 0.98% | 1.03% | 1.10% |
Source: Ownwell
Property Tax Assessment Values Across Billings, Missouri
In Billings, 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 Christian 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 Billings, 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 is $143,400, with tax bills ranging from $835 at the 25th percentile to $2,690 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 in Billings helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Billings Assessed Value
$143,400
Average Christian County Assessed Value
$157,000
Average Missouri Assessed Value
$129,505
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Billings, Missouri
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 65610 | $65,140 | $92,300 | $143,400 | $212,200 | $274,920 |
Source: Ownwell
Property Tax Bills Across Billings, Missouri
In Billings, located in Christian County, MO, property tax bills are calculated based on the assessed value of a home, which is derived from its market value. The local tax rate is then applied to this assessed value. For example, with a median home price of $143,400, the property tax bill can vary significantly. Homeowners in the 25th percentile face a tax bill of around $835, while those in the 75th percentile pay approximately $2,045. At the 90th percentile, the tax bill can reach up to $2,690. Factors influencing the tax bill include the home's assessed value, the local tax rate, and any applicable exemptions. These elements collectively determine how much homeowners owe annually. Compared to the national median property tax rate of 0.99%, the property tax rates in Billings can lead to substantial differences in yearly expenses for homeowners. Understanding these factors is crucial for homeowners to anticipate their financial obligations and manage their budgets effectively.
Average Billings Tax Bill
$1,320
Average Christian County Tax Bill
$1,599
Average Missouri Tax Bill
$1,606
Average United States Tax Bill
$2,690
Property Tax Bills Across Billings, Missouri
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 65610 | $557 | $835 | $1,320 | $2,045 | $2,690 |
Source: Ownwell