Lohman, Missouri Property Taxes
The median property tax rate in Lohman, MO is 1.00%, slightly above the national median of 0.99% but below the Missouri state median of 1.20%. With a median home value in Lohman, the typical annual property tax bill amounts to $1,329, which is lower than the national median of $2,690. Property taxes in Lohman are calculated based on the tax assessed value, which is often lower than the market value due to various exemptions like the primary residence and agricultural exemptions. Understanding Lohman'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 Lohman or another part of Moniteau County, understanding the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Lohman, 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 Lohman Property Tax Bill Calculator assists homeowners, real estate investors, and potential buyers in estimating their annual property taxes in Lohman with just two data points. By entering your property's estimated assessed value, the calculator uses the median tax rate in Lohman to provide an estimated property tax bill. This valuable tool helps you understand potential tax liabilities. For those interested in neighborhood-level trends, additional localized information is available below. Your property’s assessed value is the value assigned by the county for property tax calculations, taking into account any applicable exemptions.
Property Tax Rates Across Lohman, Missouri
Property taxes in Lohman, Missouri, are vital in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Lohman is 0.87%, lower than both the Missouri state median of 0.97% and the U.S. national median of 0.99%. Local government entities within Lohman set these rates annually, and they can vary significantly across different neighborhoods. Each year, Lohman 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 Lohman's effective property tax rate to other counties in Missouri and the national median. For comparison, the highest median property tax rate in Missouri is 1.31%, while the lowest median tax rate is 0.30%. Understanding how these cities compare with Lohman provides valuable insights into the varying tax landscape across Moniteau County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Lohman Tax Rate
1.00%
Average Moniteau County Tax Rate
1.03%
Average Missouri Tax Rate
1.20%
Average United States Tax Rate
0.99%
Property Tax Rates Across Lohman, Missouri
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 65053 | 1.00% | 1.00% | 1.00% | 1.00% | 1.00% |
Source: Ownwell
Property Tax Assessment Values Across Lohman, Missouri
Understanding the difference between "market value" and "assessed value" is crucial for comprehending property taxes in Lohman, Missouri. 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 Lohman, 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 Lohman helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The highest and lowest median tax bills are both $1,329, found in zip code 65053.
Average Lohman Assessed Value
$133,500
Average Moniteau County Assessed Value
$88,800
Average Missouri Assessed Value
$129,505
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Lohman, Missouri
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 65053 | $133,500 | $133,500 | $133,500 | $133,500 | $133,500 |
Source: Ownwell
Property Tax Bills Across Lohman, Missouri
In Lohman, located in Moniteau County, MO, property tax bills are calculated based on the assessed value of a home. The assessed value is determined by the county assessor, who evaluates the property to establish its market value. The tax rate is then applied to this assessed value to calculate the final tax bill. Factors influencing the tax bill include the market value of the property and any applicable exemptions or deductions. For homeowners in Lohman, the median home price is $133,500. The property tax rate in Moniteau County results in a consistent tax bill of $1,329, which stands out as both the 25th and 75th percentile, as well as the highest and lowest median tax bill within the zip code 65053. This uniformity in tax bills can offer homeowners a predictable financial outlook. Comparatively, the national median property tax rate is 0.99%, making Lohman’s rate competitive and potentially more affordable. Understanding these factors helps homeowners anticipate their annual financial obligations and plan accordingly.
Average Lohman Tax Bill
$1,329
Average Moniteau County Tax Bill
$1,018
Average Missouri Tax Bill
$1,606
Average United States Tax Bill
$2,690
Property Tax Bills Across Lohman, Missouri
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 65053 | $1,329 | $1,329 | $1,329 | $1,329 | $1,329 |
Source: Ownwell