Boonville, Missouri Property Taxes
The median property tax rate in Boonville, MO is 1.39%, considerably higher than both the national median of 0.99% and the Missouri state median of 1.20%. With the median home value in Boonville at $90,800, the typical annual property tax bill reaches $1,246, exceeding the national median of $2,690. Property taxes in Boonville 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 Boonville'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 Boonville 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
Boonville, Missouri Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.39%
Estimate Property Tax Bill
$1,262
Ownwell’s Boonville Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Boonville with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Boonville 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 Boonville, Missouri
Property taxes in Boonville, Missouri, are vital in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Boonville is 1.39%, significantly higher than both the Missouri state median and the U.S. national median of 0.99%. Local government entities within Boonville set these rates annually, and they can vary significantly across different neighborhoods. Each year, Boonville 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 Boonville's effective property tax rate to other counties in Missouri and the national median. For comparison, the 65233 zip code has the highest median property tax rate of 1.39%, while the same zip code also has the lowest median tax rate of 1.39%. Understanding how these cities compare with Boonville provides valuable insights into the varying tax landscape across Cooper County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Boonville Tax Rate
1.39%
Average Cooper County Tax Rate
1.38%
Average Missouri Tax Rate
1.20%
Average United States Tax Rate
0.99%
Property Tax Rates Across Boonville, Missouri
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 65233 | 1.30% | 1.37% | 1.39% | 1.40% | 1.42% |
Source: Ownwell
Property Tax Assessment Values Across Boonville, Missouri
In Boonville, 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 Cooper 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 Boonville, 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. The zip code with the highest median tax bill is 65233 at $1,246, while the same zip code also has the lowest median tax bill at $1,246. Being aware of these valuation processes in Boonville helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Boonville Assessed Value
$90,800
Average Cooper County Assessed Value
$83,000
Average Missouri Assessed Value
$129,505
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Boonville, Missouri
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 65233 | $42,640 | $58,700 | $90,800 | $137,000 | $195,300 |
Source: Ownwell
Property Tax Bills Across Boonville, Missouri
Property tax bills in Boonville, located in Cooper County, MO, are calculated based on the assessed value of a property, which is determined by the county assessor. The assessed value is a percentage of the property's market value. Homeowners in Boonville can expect their property tax bill to be influenced by factors such as the property's location, size, and any improvements made. The median home price in Boonville is $90,800, with property tax bills ranging widely. For instance, the 25th percentile tax bill is $796, while the 75th percentile tax bill reaches $1,899. At the 90th percentile, homeowners may see a tax bill as high as $2,700. The median property tax bill in Boonville is notably $1,246, which is higher than the national median property tax rate of 0.99%. These tax bills directly impact homeowners by influencing their annual housing costs, potentially affecting decisions related to homeownership and property investments. Understanding these factors is crucial for homeowners to manage their finances effectively.
Average Boonville Tax Bill
$1,246
Average Cooper County Tax Bill
$1,092
Average Missouri Tax Bill
$1,606
Average United States Tax Bill
$2,690
Property Tax Bills Across Boonville, Missouri
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 65233 | $564 | $796 | $1,246 | $1,899 | $2,700 |
Source: Ownwell