Patton, Missouri Property Taxes
The median property tax rate in Patton, MO is 0.85%, 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 Patton at $64,065, the typical annual property tax bill is $542, significantly below the national median of $2,690. Property taxes in Patton 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 Patton'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 Patton 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
Patton, Missouri Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.85%
Estimate Property Tax Bill
$545
Ownwell’s Patton Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Patton with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Patton 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 Patton, Missouri
Property taxes in Patton, Missouri, are crucial for funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Patton is 0.85%, which is below the U.S. national median of 0.99%. Local government entities within Patton set these rates annually, and they can vary across different neighborhoods. Each year, Patton 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 Patton's effective property tax rate to other areas in Missouri and the national median. For comparison, the zip code 63662 has the same median property tax rate of 0.85%, reflecting a consistent tax landscape within the region. Understanding how these cities compare with Patton provides valuable insights into the varying tax landscape across Bollinger County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Patton Tax Rate
0.85%
Average Bollinger County Tax Rate
0.80%
Average Missouri Tax Rate
1.20%
Average United States Tax Rate
0.99%
Property Tax Rates Across Patton, Missouri
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 63662 | 0.74% | 0.81% | 0.85% | 0.86% | 0.86% |
Source: Ownwell
Property Tax Assessment Values Across Patton, Missouri
In Patton, 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 Bollinger 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 Patton, 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 Patton helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The highest and lowest median tax bills in Patton are both $542, found in the 63662 zip code.
Average Patton Assessed Value
$64,065
Average Bollinger County Assessed Value
$59,990
Average Missouri Assessed Value
$129,505
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Patton, Missouri
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 63662 | $12,393 | $33,380 | $64,065 | $105,225 | $172,378 |
Source: Ownwell
Property Tax Bills Across Patton, Missouri
In Patton, located in Bollinger County, MO, property tax bills are calculated based on the assessed value of a home, which is determined by the county assessor. The assessed value is typically a percentage of the property's market value. Homeowners in Patton experience property tax rates that are relatively moderate compared to the national median property tax rate of 0.99%. For instance, the tax bill at the 25th percentile is $295, while at the 75th percentile, it rises to $892. At the 90th percentile, homeowners might see tax bills as high as $1,432. These tax bills are influenced by various factors, including the property's location, market conditions, and any applicable exemptions or deductions. For homeowners, understanding these factors is crucial as they directly affect their annual financial obligations. Compared to other regions, Patton's property tax bills are quite manageable, providing some financial relief to its residents while still contributing to essential public services and infrastructure.
Average Patton Tax Bill
$542
Average Bollinger County Tax Bill
$498
Average Missouri Tax Bill
$1,606
Average United States Tax Bill
$2,690
Property Tax Bills Across Patton, Missouri
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 63662 | $122 | $295 | $542 | $892 | $1,432 |
Source: Ownwell