Bismarck, Missouri Property Taxes
The median property tax rate in Bismarck, MO is 1.02%, slightly above the national median of 0.99% but below Missouri's state median of 1.20%. With a median home value of $35,320, the typical annual property tax bill in Bismarck is $367, which is significantly lower than the national median of $2,690. Property taxes in Bismarck are calculated based on the assessed value, which is often less than the market value due to various exemptions, such as those for primary residences and agricultural properties. By understanding Bismarck's property tax system, exploring available exemptions, and identifying opportunities for reductions, homeowners and real estate investors can achieve substantial annual savings. Whether you're in the heart of Bismarck or another part of Washington County, gaining insight into the local property tax system will provide financial benefits.
Last Updated June 14, 2024
Bismarck, 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 Bismarck Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Bismarck with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Bismarck 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 Bismarck, Missouri
Property taxes in Bismarck, Missouri, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Bismarck is 1.02%, slightly above the U.S. national median of 0.99%. Local government entities within Bismarck set these rates annually, and they can vary significantly across different neighborhoods. Each year, Bismarck 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 Bismarck's effective property tax rate to other counties in Missouri and the national median. For comparison, the zip code 63624 in Washington County has the highest median property tax rate of 1.02%, while the same zip code also has the lowest median tax rate of 1.02%. Understanding how these cities compare with Bismarck provides valuable insights into the varying tax landscape across Washington County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Bismarck Tax Rate
1.02%
Average Washington County Tax Rate
0.96%
Average Missouri Tax Rate
1.20%
Average United States Tax Rate
0.99%
Property Tax Rates Across Bismarck, Missouri
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 63624 | 0.96% | 1.01% | 1.02% | 1.05% | 1.17% |
Source: Ownwell
Property Tax Assessment Values Across Bismarck, Missouri
In Bismarck, 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 Washington 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 Bismarck, 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 Bismarck helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The zip code 63624 has the highest median tax bill of $367, highlighting the importance of understanding these values.
Average Bismarck Assessed Value
$35,320
Average Washington County Assessed Value
$37,210
Average Missouri Assessed Value
$129,505
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Bismarck, Missouri
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 63624 | $5,962 | $15,730 | $35,320 | $74,530 | $126,818 |
Source: Ownwell
Property Tax Bills Across Bismarck, Missouri
In Bismarck, located in Washington County, MO, property tax bills are calculated based on the assessed value of your home. The assessed value is a percentage of the market value of your property, which is determined by local assessors. Once the assessed value is established, it is multiplied by the local tax rate to compute your annual property tax bill. For example, with a median home price of $35,320, homeowners can expect the tax bills to vary. At the 25th percentile, the tax bill is $161, while at the 75th percentile, it reaches $777, and at the 90th percentile, it can be as high as $1,269. These variations are influenced by factors such as property location, home improvements, and changes in market conditions. Compared to the national median property tax rate of 0.99%, Bismarck’s rates can significantly impact homeowners, making it crucial to stay informed and proactive in managing property tax obligations.
Average Bismarck Tax Bill
$367
Average Washington County Tax Bill
$361
Average Missouri Tax Bill
$1,606
Average United States Tax Bill
$2,690
Property Tax Bills Across Bismarck, Missouri
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 63624 | $59 | $161 | $367 | $777 | $1,269 |
Source: Ownwell