Myrtle, Missouri Property Taxes
The median property tax rate in Myrtle, MO is 0.88%, which is lower than both the national median of 0.99% and Missouri's state median of 1.20%. With the median home value in Myrtle at $42,110, the typical annual property tax bill comes to $356, significantly below the national median of $2,690. Property taxes in Myrtle are calculated based on the tax assessed value, which often falls below the market value due to various exemptions like the primary residence and agricultural exemptions. Understanding Myrtle'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 Myrtle or another part of Oregon County, understanding the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Myrtle, 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 Myrtle Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Myrtle with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Myrtle 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 Myrtle, Missouri
Property taxes in Myrtle, Missouri, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Myrtle is 0.88%, which is lower than the U.S. national median of 0.99%. Local government entities within Myrtle set these rates annually, and they can vary significantly across different neighborhoods. Each year, Myrtle 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 Myrtle's effective property tax rate to other counties in Missouri and the national median. For comparison, the 65778 zip code has the highest median property tax rate of 0.88%, while the same zip code also has the lowest median tax rate of 0.88%. Understanding how these areas compare with Myrtle provides valuable insights into the varying tax landscape across Oregon County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Myrtle Tax Rate
0.88%
Average Oregon County Tax Rate
0.77%
Average Missouri Tax Rate
1.20%
Average United States Tax Rate
0.99%
Property Tax Rates Across Myrtle, Missouri
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 65778 | 0.59% | 0.79% | 0.88% | 0.92% | 0.94% |
Source: Ownwell
Property Tax Assessment Values Across Myrtle, Missouri
In Myrtle, 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 Oregon 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 Myrtle, 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. Being aware of these valuation processes in Myrtle helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The zip code with the highest median tax bill is 65778, amounting to $356, while the same zip code also has the lowest median tax bill at $356.
Average Myrtle Assessed Value
$42,110
Average Oregon County Assessed Value
$40,755
Average Missouri Assessed Value
$129,505
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Myrtle, Missouri
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 65778 | $6,450 | $20,540 | $42,110 | $67,640 | $112,260 |
Source: Ownwell
Property Tax Bills Across Myrtle, Missouri
In Myrtle, located in Oregon County, MO, property tax bills are calculated based on the assessed value of the property. This value is determined by the local tax assessor, who evaluates the property's market value and then applies the state’s assessment ratio. For example, if a home has a median market price of $42,110, the assessed value is a percentage of this market value. The property tax rate is then applied to the assessed value to calculate the tax bill. Myrtle's median property tax bill is notably lower than the national median rate of 0.99%. The tax bill can vary significantly; for instance, at the 25th percentile, homeowners might pay around $172, while at the 75th percentile, the bill could rise to $552. At the 90th percentile, it can reach up to $869. These property taxes fund essential local services such as schools, public safety, and infrastructure, directly impacting the quality of life for Myrtle residents. Homeowners must budget for these taxes as part of their annual expenses, ensuring they remain compliant and support their community.
Average Myrtle Tax Bill
$356
Average Oregon County Tax Bill
$286
Average Missouri Tax Bill
$1,606
Average United States Tax Bill
$2,690
Property Tax Bills Across Myrtle, Missouri
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 65778 | $56 | $172 | $356 | $552 | $869 |
Source: Ownwell