Lohman, Missouri Property Taxes
The median property tax rate in Lohman, MO is 1.03%, slightly above the national median of 0.99%, but lower than the Missouri state median of 1.20%. With a median home value in Lohman of $17,950, the typical annual property tax bill is $171, which is significantly below the national median of $2,690. Property taxes in Lohman are determined based on the assessed value, which is often lower than the market value due to exemptions like the primary residence and agricultural exemptions. Navigating Lohman's property tax system, exploring available exemptions, and finding ways to reduce your tax burden can result in substantial annual savings. Whether you're located in the heart of Lohman or its surrounding areas, a thorough understanding of the local property tax structure will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Lohman, Missouri Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.03%
Estimate Property Tax Bill
$185
Ownwell’s Lohman Property Tax Bill Calculator empowers homeowners, real estate investors, and potential buyers to estimate their annual property taxes in Lohman with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Lohman to provide an accurate estimate of your property tax bill. This valuable tool offers clear insight into potential tax liabilities, helping you plan and budget effectively. For those interested in more detailed trends at the neighborhood level, additional localized information is available below. Your property’s assessed value, determined by Morgan County, is used for tax calculations and accounts for any applicable exemptions.
Property Tax Rates Across Lohman, Missouri
Property taxes in Lohman, Missouri, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Lohman is 0.75%, which is lower than both the Missouri state median of 0.93% 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 65053 zip code has the highest median property tax rate of 0.75%, while the same zip code also has the lowest median tax rate of 0.75%. Understanding how these cities compare with Lohman 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 Lohman Tax Rate
1.03%
Average Morgan County Tax Rate
0.87%
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 | 0.89% | 0.98% | 1.03% | 1.53% | 2.41% |
Source: Ownwell
Property Tax Assessment Values Across Lohman, Missouri
In Lohman, 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 Morgan County 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. For instance, in Lohman, the highest median tax bill is $171 in the 65053 zip code, while the lowest median tax bill is also $171 in the same 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 Lohman Assessed Value
$17,950
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 Lohman, Missouri
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 65053 | $5,430 | $11,775 | $17,950 | $37,950 | $69,180 |
Source: Ownwell
Property Tax Bills Across Lohman, Missouri
In Lohman, located in Morgan County, MO, property tax bills are determined by the assessed value of a property and the applicable tax rate. The assessed value is a percentage of the property's market value, set by local assessors. Once the assessed value is established, it is multiplied by the local tax rate to calculate the annual tax bill. Factors influencing the tax bill include property type, location, and any applicable exemptions or deductions. For homeowners in Lohman, the median home price is $17,950. Property tax bills in this area can vary widely. At the 25th percentile, homeowners can expect to pay around $104 annually, while those at the 75th percentile may see bills closer to $391. The tax bill at the 90th percentile can reach up to $710. Compared to the national median property tax rate of 0.99%, the rates in Lohman provide a relatively affordable option for homeowners, making it an attractive location for those seeking lower property taxes.
Average Lohman Tax Bill
$171
Average Morgan County Tax Bill
$420
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 | $63 | $104 | $171 | $391 | $710 |
Source: Ownwell