Miller, Missouri Property Taxes
The median property tax rate in Miller, MO is 0.92%, slightly below the national median of 0.99% and significantly lower than the Missouri state median of 1.20%. With a median home value of $81,425 in Miller, the typical annual property tax bill comes to $745, which is well under the national median of $2,690. Property taxes in Miller are calculated based on the tax assessed value, which often falls below the market value due to various exemptions, such as those for primary residences and agricultural properties. Understanding Miller'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 Miller or another part of Lawrence County, grasping the nuances of the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Miller, 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 Miller Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Miller with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Miller 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 Miller, Missouri
Property taxes in Miller, Missouri, play a crucial role in funding essential local services, including public schools, road maintenance, and emergency services. The median tax rate in Miller is 0.92%, which is lower than both the Missouri state median and the U.S. national median of 0.99%. Local government entities within Miller set these rates annually, and they can vary significantly across different neighborhoods. Each year, Miller 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 Miller's effective property tax rate to other counties in Missouri and the national median. For comparison, the 65707 zip code has the highest median property tax rate of 0.92%, while the same 65707 zip code also has the lowest median tax rate of 0.92%. Understanding how these cities compare with Miller provides valuable insights into the varying tax landscape across Lawrence County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Miller Tax Rate
0.92%
Average Lawrence County Tax Rate
0.92%
Average Missouri Tax Rate
1.20%
Average United States Tax Rate
0.99%
Property Tax Rates Across Miller, Missouri
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 65707 | 0.80% | 0.87% | 0.92% | 0.95% | 1.09% |
Source: Ownwell
Property Tax Assessment Values Across Miller, Missouri
In Miller, 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 Lawrence 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 Miller, 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 Miller helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The zip code 65707 has the highest median tax bill at $745, while also having the lowest median tax bill, demonstrating a unique uniformity in property tax burdens within the area.
Average Miller Assessed Value
$81,425
Average Lawrence County Assessed Value
$87,220
Average Missouri Assessed Value
$129,505
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Miller, Missouri
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 65707 | $25,917 | $44,904 | $81,425 | $139,425 | $222,242 |
Source: Ownwell
Property Tax Bills Across Miller, Missouri
In Miller, located in Lawrence County, MO, property tax bills are calculated based on the assessed value of a property, which is determined by the county assessor. This assessed value is a percentage of the market value of the property. The tax rate, applied to this assessed value, is set by local taxing authorities and can vary based on the needs of the community, such as funding for schools and infrastructure. For homeowners in Miller, the median home price stands at $81,425. The property tax bill can range significantly, with the 25th percentile at $421 and the 75th percentile at $1,295. At the 90th percentile, homeowners might see a tax bill of up to $2,033. The highest and lowest median tax bills in the area are both recorded at $745 in the 65707 zip code, highlighting some consistency in tax rates across different properties. These property taxes can impact homeowners by influencing their overall housing costs, potentially affecting affordability and long-term financial planning.
Average Miller Tax Bill
$745
Average Lawrence County Tax Bill
$784
Average Missouri Tax Bill
$1,606
Average United States Tax Bill
$2,690
Property Tax Bills Across Miller, Missouri
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 65707 | $253 | $421 | $745 | $1,295 | $2,033 |
Source: Ownwell