Monett, Missouri Property Taxes
The median property tax rate in Monett, MO is 0.90%, which is lower than both the national median of 0.99% and the Missouri state median of 1.20%. With a median home value of $91,956 in Monett, the typical annual property tax bill is around $816, significantly less than the national median of $2,690. Property taxes in Monett are calculated based on the tax assessed value, which is often lower than the market value due to various exemptions such as those for primary residences and agricultural properties. Understanding Monett'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 Monett or another part of the city, comprehending the local property tax system benefits both homeowners and real estate investors.
Last Updated June 14, 2024
Monett, Missouri Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.9%
Estimate Property Tax Bill
$828
Ownwell’s Monett Property Tax Bill Calculator empowers homeowners, real estate investors, and potential buyers to estimate their annual property taxes in Monett with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Monett to provide an estimate of your property tax bill. This insightful tool helps you understand potential tax liabilities and plan accordingly. For those interested in more granular details, localized information on neighborhood trends is available further down the page. Your property’s assessed value, determined by Lawrence County, is used for property tax calculations and considers any applicable exemptions.
Property Tax Rates Across Monett, Missouri
Property taxes in Monett, Missouri, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Monett is 0.90%, which is slightly lower than the U.S. national median of 0.99%. Local government entities within Monett set these rates annually, and they can vary significantly across different neighborhoods. Each year, Monett 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 Monett's effective property tax rate to other counties in Missouri and the national median. For comparison, the 65708 zip code in Monett has a median property tax rate of 0.90%, which is consistent across the area. Understanding how these cities compare with Monett 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 Monett Tax Rate
0.90%
Average Lawrence County Tax Rate
0.92%
Average Missouri Tax Rate
1.20%
Average United States Tax Rate
0.99%
Property Tax Rates Across Monett, Missouri
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 65708 | 0.83% | 0.87% | 0.90% | 0.93% | 0.96% |
Source: Ownwell
Property Tax Assessment Values Across Monett, Missouri
In Monett, 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 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 Monett, 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. For instance, the median home price in Monett is $91,956, with annual tax bills ranging from $479 at the 25th percentile to $2,374 at the 90th percentile. Being aware of these valuation processes helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Monett Assessed Value
$91,956
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 Monett, Missouri
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 65708 | $25,638 | $50,905 | $91,956 | $163,211 | $261,469 |
Source: Ownwell
Property Tax Bills Across Monett, Missouri
In Monett, located in Lawrence County, MO, property tax bills are calculated based on the assessed value of a home, which is typically a percentage of its market value. The median home price in Monett is $91,956. Property taxes are determined by multiplying the assessed value by the local tax rate. Homeowners in Monett can expect their tax bills to vary significantly; the 25th percentile tax bill is around $479, while the 75th percentile tax bill reaches approximately $1,485. At the higher end, the 90th percentile tax bill can be as much as $2,374. The highest and lowest median tax bills in the area are both $816, within the zip code 65708. These taxes fund essential public services such as schools, roads, and emergency services, directly impacting the quality of life in the community. Homeowners should be aware of how these factors influence their annual property tax obligations, which are crucial for budgeting and financial planning.
Average Monett Tax Bill
$816
Average Lawrence County Tax Bill
$784
Average Missouri Tax Bill
$1,606
Average United States Tax Bill
$2,690
Property Tax Bills Across Monett, Missouri
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 65708 | $255 | $479 | $816 | $1,485 | $2,374 |
Source: Ownwell