Middletown, Missouri Property Taxes
The median property tax rate in Middletown, MO is 0.94%, slightly below the national median of 0.99% but still significant compared to the Missouri state median of 1.20%. With a median home value of $174,125 in Middletown, the typical annual property tax bill is $1,500, which is lower than the national median of $2,690. Property taxes in Middletown are calculated based on the assessed value, which is often less than the market value due to exemptions like those for primary residences and agricultural properties. Understanding Middletown's property tax system, exploring available exemptions, and identifying opportunities for reductions can lead to considerable annual savings. Whether you're in the heart of Middletown 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
Middletown, 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 Middletown Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Middletown with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Middletown 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 Middletown, Missouri
Property taxes in Middletown, Missouri, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Middletown is 0.94%, which is just below the U.S. national median of 0.99%. Local government entities within Middletown set these rates annually, and they can vary significantly across different neighborhoods. Each year, Middletown 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 Middletown's effective property tax rate to other areas in Missouri and the national median. For comparison, the zip code 63359 has both the highest and lowest median property tax rate, standing at 0.94%. Understanding how these areas compare with Middletown provides valuable insights into the varying tax landscape across Lincoln County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Middletown Tax Rate
0.94%
Average Lincoln County Tax Rate
1.17%
Average Missouri Tax Rate
1.20%
Average United States Tax Rate
0.99%
Property Tax Rates Across Middletown, Missouri
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 63359 | 0.72% | 0.82% | 0.94% | 0.97% | 0.99% |
Source: Ownwell
Property Tax Assessment Values Across Middletown, Missouri
In Middletown, 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 Lincoln 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 Middletown, 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 Middletown helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The zip code with the highest and lowest median tax bills in Middletown is 63359, both at $1500. Understanding these elements can significantly aid in managing property taxes effectively.
Average Middletown Assessed Value
$174,125
Average Lincoln County Assessed Value
$149,220
Average Missouri Assessed Value
$129,505
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Middletown, Missouri
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 63359 | $55,029 | $116,055 | $174,125 | $244,420 | $309,559 |
Source: Ownwell
Property Tax Bills Across Middletown, Missouri
In Middletown, Lincoln County, MO, property tax bills are calculated based on the assessed value of your home, which is a percentage of the market value. The local tax rate is then applied to this assessed value. For example, with a median home price of $174,125, homeowners can expect varying tax bills depending on their property's assessed value and the specific tax rate applied in their area. Several factors influence the tax bill, including the market value of the property, local assessment practices, and any applicable exemptions. The tax bill for the 25th percentile is $1,078, while the 75th percentile sees a tax bill of $2,188. At the 90th percentile, homeowners face a tax bill of $2,662. The highest and lowest median tax bills in the area are both recorded at $1,500 in the 63359 zip code. These property taxes significantly impact homeowners, affecting their monthly mortgage payments and overall financial planning. Comparing this to the national median property tax rate of 0.99%, residents in Middletown might find their property tax rates to be competitive, yet it's essential to understand these nuances for better financial management.
Average Middletown Tax Bill
$1,500
Average Lincoln County Tax Bill
$1,734
Average Missouri Tax Bill
$1,606
Average United States Tax Bill
$2,690
Property Tax Bills Across Middletown, Missouri
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 63359 | $475 | $1,078 | $1,500 | $2,188 | $2,662 |
Source: Ownwell