La Monte, Missouri Property Taxes
The median property tax rate in La Monte, MO is 0.97%, slightly below the national median of 0.99% and significantly lower than the Missouri state median of 1.20%. With a median home value of $39,500 in La Monte, the typical annual property tax bill amounts to $382, which is well below the national median of $2,690. Property taxes in La Monte are calculated based on the tax assessed value, which often falls below the market value due to various exemptions such as those for primary residences and agricultural properties. Understanding La Monte'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 La Monte or another part of the city, comprehending the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
La Monte, 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 LA MONTE Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in LA MONTE with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in LA MONTE 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 La Monte, Missouri
Property taxes in LA MONTE, Missouri, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in LA MONTE is 0.97%, slightly below the U.S. national median of 0.99%. Local government entities within LA MONTE set these rates annually, and they can vary significantly across different neighborhoods. Each year, LA MONTE 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 LA MONTE's effective property tax rate to other counties in Missouri and the national median. For comparison, the 65337 zip code has a median property tax rate of 0.97%, which is the same as LA MONTE. Understanding how these cities compare with LA MONTE provides valuable insights into the varying tax landscape across Morgan County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average La Monte Tax Rate
0.97%
Average Morgan County Tax Rate
0.87%
Average Missouri Tax Rate
1.20%
Average United States Tax Rate
0.99%
Property Tax Rates Across La Monte, Missouri
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 65337 | 0.97% | 0.97% | 0.97% | 0.97% | 0.97% |
Source: Ownwell
Property Tax Assessment Values Across La Monte, Missouri
Understanding the difference between "market value" and "assessed value" is crucial for comprehending property taxes in La Monte, 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 Morgan 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 La Monte, 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. For example, the median home price in La Monte is $39,500, with median tax bills consistently around $382, regardless of the zip code. 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 La Monte helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average La Monte Assessed Value
$39,500
Average Morgan County Assessed Value
$49,350
Average Missouri Assessed Value
$129,505
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across La Monte, Missouri
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 65337 | $39,500 | $39,500 | $39,500 | $39,500 | $39,500 |
Source: Ownwell
Property Tax Bills Across La Monte, Missouri
In La Monte, property tax bills are calculated based on the assessed value of a home, which is determined by the local tax assessor. This assessed value is a percentage of the home's market value, and the tax rate is applied to this assessed value to determine the tax bill. For instance, with a median home price of $39,500, homeowners in La Monte typically see a tax bill around $382. This amount remains consistent across various percentiles, indicating a stable tax rate within the area. Factors such as property size, location, and improvements can influence the assessed value, ultimately affecting the tax bill. Compared to the national median property tax rate of 0.99%, La Monte's tax rate results in relatively lower tax bills, which can be beneficial for homeowners. Understanding how these elements interact helps homeowners anticipate their annual property tax obligations and manage their finances more effectively.
Average La Monte Tax Bill
$382
Average Morgan County Tax Bill
$420
Average Missouri Tax Bill
$1,606
Average United States Tax Bill
$2,690
Property Tax Bills Across La Monte, Missouri
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 65337 | $382 | $382 | $382 | $382 | $382 |
Source: Ownwell