Milledgeville, Missouri Property Taxes
The median property tax rate in Milledgeville, MO is 2.17%, considerably higher than both the national median of 0.99% and the Missouri state median of 1.20%. With the median home value in Milledgeville, the typical annual property tax bill reaches $43, exceeding the national median of $2,690. Property taxes in Milledgeville are calculated based on the tax assessed value, which typically falls below the market value due to various exemptions like the primary residence and agricultural exemptions. Understanding Milledgeville'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 Milledgeville 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
Milledgeville, Missouri Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
2.17%
Estimate Property Tax Bill
$43
Ownwell’s Milledgeville Property Tax Bill Calculator is a valuable tool for homeowners, real estate investors, and potential buyers looking to estimate their annual property taxes in Milledgeville. By simply entering your property's estimated assessed value, the calculator uses the median tax rate in Milledgeville to provide an accurate estimate of your property tax bill. This insightful tool allows you to understand your potential tax liabilities easily. For those interested in more detailed trends on a neighborhood level, additional localized information is available by scrolling down. Your property’s assessed value is determined by Morgan County for tax calculations, which also considers any applicable exemptions.
Property Tax Rates Across Milledgeville, Missouri
Property taxes in Milledgeville, Missouri, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Milledgeville is 1.25%, higher than both the Missouri state median of 0.93% and the U.S. national median of 0.99%. Local government entities within Milledgeville set these rates annually, and they can vary significantly across different neighborhoods. Each year, Milledgeville 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 Milledgeville's effective property tax rate to other counties in Missouri and the national median. For comparison, the ZIP code 31061 has the highest median property tax rate of 1.25%, while the same ZIP code also has the lowest median tax rate of 1.25%. Understanding how these cities compare with Milledgeville 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 Milledgeville Tax Rate
2.17%
Average Morgan County Tax Rate
0.87%
Average Missouri Tax Rate
1.20%
Average United States Tax Rate
0.99%
Property Tax Rates Across Milledgeville, Missouri
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 31061 | 2.17% | 2.17% | 2.17% | 2.17% | 2.17% |
Source: Ownwell
Property Tax Assessment Values Across Milledgeville, Missouri
In Milledgeville, 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 Assessor's Office 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 in Milledgeville 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 Milledgeville helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Milledgeville Assessed Value
$2,000
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 Milledgeville, Missouri
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 31061 | $2,000 | $2,000 | $2,000 | $2,000 | $2,000 |
Source: Ownwell
Property Tax Bills Across Milledgeville, Missouri
In Milledgeville, located in Morgan County, MO, property tax bills are calculated based on the assessed value of a property, which is a percentage of the market value. The local tax rate is then applied to this assessed value to determine the annual tax bill. For homeowners in Milledgeville, the median home price is $2,000. Given the tax bills at the 25th, 75th, and 90th percentiles are all $43, it reflects a consistent tax burden across various property values. Factors considered in determining the tax bill include the property's assessed value and the local tax rate. A lower assessed value or tax rate can result in significant savings for homeowners. Compared to the national median property tax rate of 0.99%, Milledgeville's property tax rate is significantly lower, making it an attractive location for potential homeowners. This lower tax rate can ease the financial burden on homeowners, allowing them to allocate resources to other essential expenses or investments.
Average Milledgeville Tax Bill
$43
Average Morgan County Tax Bill
$420
Average Missouri Tax Bill
$1,606
Average United States Tax Bill
$2,690
Property Tax Bills Across Milledgeville, Missouri
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 31061 | $43 | $43 | $43 | $43 | $43 |
Source: Ownwell