Middletown, Missouri Property Taxes
The median property tax rate in Middletown, MO is 1.28%, higher than both the national median of 0.99% and Missouri's state median of 1.20%. With a median home value of $29,200 in Middletown, the typical annual property tax bill is $369, which is significantly lower than the national median of $2,690. Property taxes in Middletown are calculated based on the assessed value, often below market value due to exemptions like the primary residence and agricultural exemptions. Understanding Middletown'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 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
$1,500,000
$3,000,000
Average Tax Rate
1.28%
Estimate Property Tax Bill
$374
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 1.28%, significantly higher than 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 63359 zip code has the highest median property tax rate of 1.28%, while the same zip code also has the lowest median tax rate of 1.28%. Understanding how these areas compare with Middletown provides valuable insights into the varying tax landscape across Montgomery County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Middletown Tax Rate
1.28%
Average Montgomery County Tax Rate
1.11%
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 | 1.14% | 1.18% | 1.28% | 1.33% | 1.40% |
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 Montgomery 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. In Middletown, the median home price is $29,200, with tax bills ranging from $114 at the 25th percentile to $1,176 at the 90th percentile. The highest and lowest median tax bills are both $369 in the 63359 zip code. Being aware of these valuation processes helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Middletown Assessed Value
$29,200
Average Montgomery County Assessed Value
$47,300
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 | $2,730 | $8,775 | $29,200 | $58,375 | $103,900 |
Source: Ownwell
Property Tax Bills Across Middletown, Missouri
In Middletown, Montgomery County, MO, property tax bills are calculated based on the assessed value of a property, which is determined by the county assessor. The assessed value is a percentage of the property's market value, and this percentage varies depending on the type of property. For homeowners, the assessed value is typically a fraction of the market value of their homes. The property tax rate is then applied to the assessed value to determine the tax bill. This rate is set by local taxing authorities and can vary within the county. In Middletown, the median home price is $29,200. Homeowners in the 25th percentile can expect a tax bill around $114, while those in the 75th percentile may see bills as high as $756. At the 90th percentile, tax bills can reach $1,176. These property taxes fund essential public services such as schools, emergency services, and infrastructure maintenance. Understanding how these bills are calculated helps homeowners anticipate their annual expenses and plan their budgets accordingly.
Average Middletown Tax Bill
$369
Average Montgomery County Tax Bill
$560
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 | $36 | $114 | $369 | $756 | $1,176 |
Source: Ownwell