Monett, Missouri Property Taxes
The median property tax rate in Monett, MO is 0.90%, 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 Monett, the typical annual property tax bill is $22, significantly below the national median of $2,690. Property taxes in Monett are calculated based on the tax assessed value, which often falls below the market value due to exemptions like the primary residence and agricultural exemptions. Understanding Monett'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 Monett 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
Monett, 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 Monett Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Monett with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Monett 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 Monett, Missouri
Property taxes in Monett, Missouri, are essential for funding crucial local services such as public schools, road maintenance, and emergency services. The median tax rate in Monett is 0.90%, which is lower than both the Missouri state median and the U.S. national median of 0.99%. Local government entities within Monett set these rates annually, and they can vary significantly across different neighborhoods. Each year, Monett 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 Monett's effective property tax rate to other counties in Missouri and the national median. For comparison, the zip code 65708 has both the highest and lowest median property tax rate of 0.90%. Understanding how these cities compare with Monett provides valuable insights into the varying tax landscape across Stone County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Monett Tax Rate
0.90%
Average Stone County Tax Rate
0.93%
Average Missouri Tax Rate
1.20%
Average United States Tax Rate
0.99%
Property Tax Rates Across Monett, Missouri
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 65708 | 0.90% | 0.90% | 0.90% | 0.90% | 0.90% |
Source: Ownwell
Property Tax Assessment Values Across Monett, Missouri
In Monett, 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 Stone 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 Monett, 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 Monett helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The zip codes with the highest and lowest tax bills in Monett are both $22, reflecting a relatively uniform tax distribution in the area.
Average Monett Assessed Value
$2,400
Average Stone County Assessed Value
$50,150
Average Missouri Assessed Value
$129,505
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Monett, Missouri
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 65708 | $2,400 | $2,400 | $2,400 | $2,400 | $2,400 |
Source: Ownwell
Property Tax Bills Across Monett, Missouri
In Monett, located in Stone County, MO, property tax bills are calculated based on the assessed value of the home. The assessed value is a percentage of the property's market value, determined by county assessors. For instance, if the median home price is $2,400, the assessed value would be a fraction of this amount. The tax rate, applied to the assessed value, determines the tax bill. In Monett, the property tax rate is significantly lower than the national median property tax rate of 0.99%. Homeowners in Monett can expect a relatively modest tax bill, with the 25th, 75th, and 90th percentiles all showing a tax bill of $22. This consistency suggests a stable tax environment, which can be beneficial for homeowners budgeting their annual expenses. Understanding how these factors interplay helps homeowners in Monett plan better for their financial future, knowing that their property tax bills will remain predictable and manageable.
Average Monett Tax Bill
$22
Average Stone County Tax Bill
$460
Average Missouri Tax Bill
$1,606
Average United States Tax Bill
$2,690
Property Tax Bills Across Monett, Missouri
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 65708 | $22 | $22 | $22 | $22 | $22 |
Source: Ownwell