Bourbon, Missouri Property Taxes
The median property tax rate in Bourbon, MO is 0.64%, significantly lower than both the national median of 0.99% and the Missouri state median of 1.20%. With the median home value in Bourbon at $33,720, the typical annual property tax bill amounts to $216, well below the national median of $2,690. Property taxes in Bourbon are determined based on the tax assessed value, which often falls below the market value due to various exemptions such as primary residence and agricultural exemptions. Gaining a thorough understanding of Bourbon'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 Bourbon or another part of the city, familiarizing yourself with the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Bourbon, Missouri Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.64%
Estimate Property Tax Bill
$216
Ownwell’s Bourbon Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Bourbon with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Bourbon 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 Bourbon, Missouri
Property taxes in Bourbon, Missouri, are crucial for funding essential local services, including public schools, road maintenance, and emergency services. The median tax rate in Bourbon is 0.64%, which is lower than both the Missouri state median and the U.S. national median of 0.99%. Local government entities within Bourbon set these rates annually, and they can vary significantly across different neighborhoods. Each year, Bourbon 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 Bourbon's effective property tax rate to other counties in Missouri and the national median. For comparison, the 65441 zip code has the highest median property tax rate of 0.64%, while the same zip code also has the lowest median tax rate of 0.64%. Understanding how these cities compare with Bourbon provides valuable insights into the varying tax landscape across Gasconade County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Bourbon Tax Rate
0.64%
Average Gasconade County Tax Rate
1.08%
Average Missouri Tax Rate
1.20%
Average United States Tax Rate
0.99%
Property Tax Rates Across Bourbon, Missouri
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 65441 | 0.64% | 0.64% | 0.64% | 0.64% | 0.64% |
Source: Ownwell
Property Tax Assessment Values Across Bourbon, Missouri
In Bourbon, 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 Gasconade 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. Assessment notices in Bourbon 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 Bourbon 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 $216, with the zip code 65441 reflecting this uniformity.
Average Bourbon Assessed Value
$33,720
Average Gasconade County Assessed Value
$40,105
Average Missouri Assessed Value
$129,505
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Bourbon, Missouri
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 65441 | $33,720 | $33,720 | $33,720 | $33,720 | $33,720 |
Source: Ownwell
Property Tax Bills Across Bourbon, Missouri
In Bourbon, Gasconade County, MO, property tax bills are calculated based on the assessed value of a home, which is determined by the local assessor's office. The assessed value is a percentage of the home's market value, and for residential properties in Missouri, it is typically set at 19%. This assessed value is then multiplied by the local tax rate to determine the annual property tax bill. In Bourbon, the median home price is $33,720, leading to a relatively modest property tax bill. Across the city, the 25th, 75th, and 90th percentiles of tax bills are all $216, which is significantly lower than the national median property tax rate of 0.99%. This lower tax burden can make homeownership more affordable for residents. However, it's essential for homeowners to stay informed about any changes in local tax rates or assessed values, as these can impact the overall tax bill. Understanding these factors can help homeowners better manage their finances and anticipate future expenses.
Average Bourbon Tax Bill
$216
Average Gasconade County Tax Bill
$439
Average Missouri Tax Bill
$1,606
Average United States Tax Bill
$2,690
Property Tax Bills Across Bourbon, Missouri
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 65441 | $216 | $216 | $216 | $216 | $216 |
Source: Ownwell