Montrose, Bates County, Missouri Property Taxes
The median property tax rate in Montrose, MO is 0.94%, slightly below both the national median of 0.99% and the Missouri state median of 1.20%. With a median home value of $88,900 in Montrose, the typical annual property tax bill is $764, which is significantly less than the national median of $2,690. Property taxes in Montrose are calculated based on the assessed value, often lower than the market value due to exemptions like primary residence and agricultural exemptions. Understanding Montrose'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 Montrose 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
Montrose, Bates County, Missouri Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.94%
Estimate Property Tax Bill
$836
$775
Ownwell’s Montrose Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Montrose with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Montrose 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 Montrose, Bates County, Missouri
Property taxes in Montrose, Missouri, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Montrose is 0.94%, slightly below the U.S. national median of 0.99%. Local government entities within Montrose set these rates annually, and they can vary significantly across different neighborhoods. Each year, Montrose 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 Montrose's effective property tax rate to other counties in Missouri and the national median. For comparison, the 64770 zip code has both the highest and lowest median property tax rate of 0.94%. Understanding how these cities compare with Montrose provides valuable insights into the varying tax landscape across Bates County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Montrose Tax Rate
0.94%
Average Bates County Tax Rate
1.06%
Average Missouri Tax Rate
1.20%
Average United States Tax Rate
0.99%
Property Tax Rates Across Montrose, Bates County, Missouri
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 64770 | 0.77% | 0.85% | 0.94% | 1.03% | 1.07% |
Source: Ownwell
Property Tax Assessment Values Across Montrose, Bates County, Missouri
In Montrose, 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 Bates 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 Montrose, 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. The median home price in Montrose is $88,900, with tax bills ranging from $407 at the 25th percentile to $1,204 at the 75th percentile. The highest median tax bill in the area is $764, found in zip code 64770. By understanding these valuation concepts and local tax data, property owners can better navigate their tax responsibilities and explore opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Property Tax Assessment Values Across Montrose, Bates County, Missouri
Source: Ownwell
$24,550
$69,900
$115,250
Average Montrose Assessed Value
$88,900
Average Bates County Assessed Value
$68,300
Average Missouri Assessed Value
$129,505
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Montrose, Bates County, Missouri
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 64770 | $22,580 | $37,850 | $88,900 | $139,550 | $194,920 |
Source: Ownwell
Property Tax Bills Across Montrose, Bates County, Missouri
In Montrose, 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 Montrose is $88,900, and the tax rate is applied to this assessed value to determine the annual tax bill. Several factors influence the tax bill, including property location, local government budgets, and specific tax levies for schools, infrastructure, and public services. Homeowners in Montrose can expect varying tax bills depending on their property's assessed value and the applicable tax rate. For instance, the 25th percentile tax bill is approximately $407, while the 75th percentile tax bill is around $1,204. At the higher end, the 90th percentile tax bill reaches about $2,066. These figures show a range of potential tax liabilities for homeowners, affecting their overall financial planning and property affordability. Understanding these factors can help homeowners anticipate their annual tax obligations and manage their budgets accordingly.
Average Montrose Tax Bill
$764
Average Bates County Tax Bill
$704
Average Missouri Tax Bill
$1,606
Average United States Tax Bill
$2,690
Property Tax Bills Across Montrose, Bates County, Missouri
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 64770 | $212 | $407 | $764 | $1,204 | $2,066 |
Source: Ownwell