Pontiac, Missouri Property Taxes
The median property tax rate in Pontiac, MO is 0.66%, significantly lower than both the national median of 0.99% and Missouri's state median of 1.20%. With the median home value in Pontiac, the typical annual property tax bill amounts to $566, which is well below the national median of $2,690. Property taxes in Pontiac 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 Pontiac'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 Pontiac 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
Pontiac, Missouri Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.66%
Estimate Property Tax Bill
$545
Ownwell’s Pontiac Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Pontiac with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Pontiac 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 Pontiac, Missouri
Property taxes in Pontiac, Missouri, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Pontiac is 0.66%, which is lower than both the Missouri state median and the U.S. national median of 0.99%. Local government entities within Pontiac set these rates annually, and they can vary significantly across different neighborhoods. Each year, Pontiac 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 Pontiac's effective property tax rate to other counties in Missouri and the national median. For comparison, the zip code 65729 has both the highest and lowest median property tax rate of 0.66%. Understanding how these areas compare with Pontiac provides valuable insights into the varying tax landscape across Ozark County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Pontiac Tax Rate
0.66%
Average Ozark County Tax Rate
0.74%
Average Missouri Tax Rate
1.20%
Average United States Tax Rate
0.99%
Property Tax Rates Across Pontiac, Missouri
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 65729 | 0.65% | 0.66% | 0.66% | 0.66% | 0.66% |
Source: Ownwell
Property Tax Assessment Values Across Pontiac, Missouri
In Pontiac, 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 Ozark 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 Pontiac, 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 Pontiac helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The highest and lowest median tax bills are both found in the 65729 zip code at $566.
Average Pontiac Assessed Value
$82,600
Average Ozark County Assessed Value
$64,800
Average Missouri Assessed Value
$129,505
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Pontiac, Missouri
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 65729 | $28,790 | $46,675 | $82,600 | $128,275 | $184,190 |
Source: Ownwell
Property Tax Bills Across Pontiac, Missouri
Property tax bills in Pontiac, located in Ozark County, MO, are calculated based on the assessed value of a property and the local tax rate. The assessed value is a percentage of the property's market value, which is determined by the county assessor. In Pontiac, homeowners can expect a median property tax rate that aligns closely with the national median of 0.99%. For a property with a median home price of $82,600, the tax bill can vary significantly. At the 25th percentile, homeowners might pay around $312, while those at the 75th percentile could see bills as high as $869. The tax bill can reach up to $1,237 for properties at the 90th percentile. The highest and lowest median tax bills in the area are both recorded at $566, indicating some consistency in taxation within the zip code 65729. These property taxes fund essential local services such as schools, emergency services, and infrastructure, directly impacting the quality of life for homeowners. Understanding how these bills are calculated can help residents budget more effectively and plan for future expenses.
Average Pontiac Tax Bill
$566
Average Ozark County Tax Bill
$481
Average Missouri Tax Bill
$1,606
Average United States Tax Bill
$2,690
Property Tax Bills Across Pontiac, Missouri
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 65729 | $194 | $312 | $566 | $869 | $1,237 |
Source: Ownwell