New Florence, Missouri Property Taxes
The median property tax rate in New Florence, MO is 1.10%, slightly higher than the national median of 0.99% but lower than the Missouri state median of 1.20%. With a median home value of $17,450 in New Florence, the typical annual property tax bill is $208, which is significantly below the national median of $2,690. Property taxes in New Florence are calculated based on the assessed value, which is often lower than the market value due to exemptions such as those for primary residences and agricultural properties. Understanding New Florence'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 New Florence or another part of Montgomery County, familiarizing yourself with the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
New Florence, 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 New Florence Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in New Florence with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in New Florence 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 New Florence, Missouri
Property taxes in New Florence, Missouri, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in New Florence is 1.10%, significantly higher than the U.S. national median of 0.99%. Local government entities within New Florence set these rates annually, and they can vary significantly across different neighborhoods. Each year, New Florence 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 New Florence's effective property tax rate to other counties in Missouri and the national median. For comparison, the zip code 63363 has the highest median property tax rate of 1.10%, while the same zip code also has the lowest median tax rate of 1.10%. Understanding how these cities compare with New Florence 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 New Florence Tax Rate
1.10%
Average Montgomery County Tax Rate
1.11%
Average Missouri Tax Rate
1.20%
Average United States Tax Rate
0.99%
Property Tax Rates Across New Florence, Missouri
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 63363 | 1.06% | 1.08% | 1.10% | 1.19% | 1.24% |
Source: Ownwell
Property Tax Assessment Values Across New Florence, Missouri
In New Florence, 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. 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. The median home price in New Florence is $17,450, with tax bills ranging from $57 at the 25th percentile to $1,344 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 New Florence Assessed Value
$17,450
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 New Florence, Missouri
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 63363 | $2,900 | $4,675 | $17,450 | $64,325 | $118,800 |
Source: Ownwell
Property Tax Bills Across New Florence, Missouri
In New Florence, located in Montgomery County, MO, property tax bills are calculated based on the assessed value of your home. The county assesses property values periodically, and the assessed value is typically a percentage of the market value. For homeowners in New Florence, the median home price is $17,450. The property tax rate in this area is used to determine the annual property tax bill, which can vary significantly. Factors influencing your tax bill include the assessed home value and the local tax rate. For instance, the 25th percentile of tax bills in New Florence is $57, while the 75th percentile reaches $739. At the 90th percentile, homeowners can expect a tax bill of $1,344. The highest and lowest median tax bills in the area both stand at $208, indicating some uniformity in certain areas. Comparatively, the national median property tax rate is 0.99%, which provides a benchmark for understanding how New Florence's rates stack up. For homeowners, these property taxes fund essential local services and can significantly impact annual budgeting.
Average New Florence Tax Bill
$208
Average Montgomery County Tax Bill
$560
Average Missouri Tax Bill
$1,606
Average United States Tax Bill
$2,690
Property Tax Bills Across New Florence, Missouri
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 63363 | $32 | $57 | $208 | $739 | $1,344 |
Source: Ownwell