Montrose, Missouri Property Taxes
The median property tax rate in Montrose, MO is 1.26%, noticeably higher than both the national median of 0.99% and Missouri's state median of 1.20%. With the median home value in Montrose, the typical annual property tax bill reaches $274, which is significantly lower than the national median of $2,690. Property taxes in Montrose are calculated based on the assessed value, which often falls below the market value due to various exemptions such as primary residence and agricultural exemptions. Understanding Montrose'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 Montrose or another part of Henry County, understanding the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Montrose, 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 Montrose Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Montrose with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Montrose 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 Montrose, Missouri
Property taxes in Montrose, Missouri, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Montrose is 0.85%, lower than both the Missouri state median of 0.97% and the U.S. national median of 0.99%. Local government entities within Montrose set these rates annually, and they can vary significantly across different neighborhoods. Each year, Montrose 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 Montrose's effective property tax rate to other counties in Missouri and the national median. For comparison, the highest median property tax rate in Henry County is 0.85%, while the lowest median tax rate is also 0.85%. Understanding how these cities compare with Montrose provides valuable insights into the varying tax landscape across Henry County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Montrose Tax Rate
1.26%
Average Henry County Tax Rate
0.95%
Average Missouri Tax Rate
1.20%
Average United States Tax Rate
0.99%
Property Tax Rates Across Montrose, Missouri
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 64770 | 0.85% | 0.96% | 1.26% | 1.27% | 1.27% |
Source: Ownwell
Property Tax Assessment Values Across Montrose, Missouri
In Montrose, 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 local 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 Montrose, 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 Montrose helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The highest median tax bill in the area is $274 in the 64770 zip code, while the lowest median tax bill is also $274 in the same zip code.
Average Montrose Assessed Value
$23,000
Average Henry County Assessed Value
$36,250
Average Missouri Assessed Value
$129,505
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Montrose, Missouri
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 64770 | $4,820 | $8,800 | $23,000 | $42,200 | $76,140 |
Source: Ownwell
Property Tax Bills Across Montrose, Missouri
In Montrose, located in Henry 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 Montrose is $23,000. Property taxes are then determined by applying the local tax rate to this assessed value. Various factors, such as property improvements and market trends, influence the assessed value. Homeowners in Montrose can expect tax bills that vary significantly, with the 25th percentile at $108 and the 75th percentile at $452. The 90th percentile tax bill reaches up to $671. This wide range demonstrates how individual property characteristics and local tax rates impact the final tax amount. Compared to the national median property tax rate of 0.99%, Montrose's rates offer a relatively affordable option for homeowners. Understanding these factors helps homeowners better anticipate their annual property tax obligations and plan accordingly.
Average Montrose Tax Bill
$274
Average Henry County Tax Bill
$369
Average Missouri Tax Bill
$1,606
Average United States Tax Bill
$2,690
Property Tax Bills Across Montrose, Missouri
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 64770 | $61 | $108 | $274 | $452 | $671 |
Source: Ownwell