Bolivar, Missouri Property Taxes
The median property tax rate in Bolivar, MO is 0.91%, which is lower than both the national median of 0.99% and the Missouri state median of 1.20%. With the median home value in Bolivar at $59,105, the typical annual property tax bill is about $493, significantly below the national median of $2,690. Property taxes in Bolivar 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 Bolivar'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 Bolivar 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
Bolivar, 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 Bolivar Property Tax Bill Calculator is an essential tool for homeowners, real estate investors, and potential buyers looking to estimate their annual property taxes in Bolivar. By simply entering your property's estimated assessed value, the calculator uses the median tax rate in Bolivar to provide an accurate estimate of your property tax bill. This valuable resource helps you understand your potential tax liabilities with ease. For those interested in more detailed insights, you can explore neighborhood-level trends by scrolling down. Your property’s assessed value, determined by Polk County, is used for these calculations and takes into account any applicable exemptions.
Property Tax Rates Across Bolivar, Missouri
Property taxes in Bolivar, Missouri, are essential for funding crucial local services, including public schools, road maintenance, and emergency services. The median tax rate in Bolivar is 0.91%, which is lower than the U.S. national median of 0.99%. Local government entities within Bolivar set these rates annually, and they can vary significantly across different neighborhoods. Each year, Bolivar 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 Bolivar's effective property tax rate to other counties in Missouri and the national median. For comparison, the 65613 zip code has both the highest and the lowest median property tax rate of 0.91%. Understanding how these cities compare with Bolivar provides valuable insights into the varying tax landscape across Polk County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Bolivar Tax Rate
0.91%
Average Polk County Tax Rate
0.91%
Average Missouri Tax Rate
1.20%
Average United States Tax Rate
0.99%
Property Tax Rates Across Bolivar, Missouri
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 65613 | 0.73% | 0.91% | 0.91% | 0.94% | 0.98% |
Source: Ownwell
Property Tax Assessment Values Across Bolivar, Missouri
In Bolivar, 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 Polk 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 Bolivar, 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 Bolivar helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The highest and lowest median tax bills in Bolivar are both recorded at $493 in the 65613 zip code.
Average Bolivar Assessed Value
$59,105
Average Polk County Assessed Value
$49,465
Average Missouri Assessed Value
$129,505
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Bolivar, Missouri
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 65613 | $16,000 | $30,105 | $59,158 | $103,895 | $158,390 |
Source: Ownwell
Property Tax Bills Across Bolivar, Missouri
In Bolivar, Polk County, MO, property tax bills are calculated based on the assessed value of a home, which is a percentage of its market value. The median home price in Bolivar is $59,105, and the tax rate is applied to this assessed value to determine the tax bill. Tax bills can vary significantly within the city, with the 25th percentile tax bill at $229 and the 75th percentile tax bill at $898. For homeowners in the 90th percentile, tax bills can reach up to $1,340. Several factors influence these tax bills, including changes in the home’s market value, local tax rates, and any applicable exemptions or deductions. The highest and lowest median tax bills in Bolivar are both $493, indicating some consistency in tax assessments across different areas within the city. Compared to the national median property tax rate of 0.99%, Bolivar's tax rates can be considered relatively moderate, helping homeowners manage their financial obligations more effectively.
Average Bolivar Tax Bill
$493
Average Polk County Tax Bill
$421
Average Missouri Tax Bill
$1,606
Average United States Tax Bill
$2,690
Property Tax Bills Across Bolivar, Missouri
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 65613 | $98 | $229 | $493 | $898 | $1,340 |
Source: Ownwell