Gower, Buchanan County, Missouri Property Taxes
The median property tax rate in Gower, MO is 1.35%, considerably higher than both the national median of 0.99% and the Missouri state median of 1.20%. With the median home value in Gower, the typical annual property tax bill reaches $1,791, exceeding the national median of $2,690. Property taxes in Gower are calculated based on the tax assessed value, which typically falls below the market value due to various exemptions like the primary residence and agricultural exemptions. Understanding Gower'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 Gower 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
Gower, Buchanan County, Missouri Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.35%
Estimate Property Tax Bill
$1,888
$1,752
Ownwell’s Gower Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Gower with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Gower 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 Gower, Buchanan County, Missouri
Property taxes in Gower, Missouri, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Gower is 0.85%, which is lower than both the Missouri state median of 1.02% and the U.S. national median of 0.99%. Local government entities within Gower set these rates annually, and they can vary significantly across different neighborhoods. Each year, Gower 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 Gower's effective property tax rate to other counties in Missouri and the national median. For comparison, the highest median property tax rate in the county is 1.02%, while the lowest median tax rate is 0.85%. Understanding how these cities compare with Gower provides valuable insights into the varying tax landscape across Clinton County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Gower Tax Rate
1.35%
Average Buchanan County Tax Rate
1.25%
Average Missouri Tax Rate
1.20%
Average United States Tax Rate
0.99%
Property Tax Rates Across Gower, Buchanan County, Missouri
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 64454 | 1.17% | 1.26% | 1.35% | 1.37% | 1.41% |
Source: Ownwell
Property Tax Assessment Values Across Gower, Buchanan County, Missouri
Understanding the difference between "market value" and "assessed value" is crucial for comprehending property taxes in Gower, Missouri. The market value represents the price a willing buyer would pay a willing seller in an open and competitive market, influenced by factors such as location, property condition, and economic trends. This value is estimated by the Buchanan 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 Gower, 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 Gower helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The median home price in Gower is $139,850, with the 25th percentile tax bill at $1,194 and the 75th percentile at $2,402. The highest and lowest median tax bills are both $1,791 in the 64454 zip code.
Property Tax Assessment Values Across Gower, Buchanan County, Missouri
Source: Ownwell
$46,650
$106,675
$166,700
Average Gower Assessed Value
$139,850
Average Buchanan County Assessed Value
$72,855
Average Missouri Assessed Value
$129,505
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Gower, Buchanan County, Missouri
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 64454 | $51,221 | $97,740 | $139,850 | $187,530 | $247,988 |
Source: Ownwell
Property Tax Bills Across Gower, Buchanan County, Missouri
In Gower, located in Buchanan 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 Gower is $139,850. Once the assessed value is determined, the local tax rate is applied to calculate the annual property tax bill. Factors such as the property's location, improvements, and any exemptions or abatements also play a role in determining the final tax amount. Homeowners in Gower experience a range of property tax bills. For instance, the 25th percentile tax bill is $1,194, while the 75th percentile reaches $2,402. The 90th percentile tax bill even goes up to $3,296. Comparatively, the highest median tax bill in the area is $1,791, which is significantly higher than the national median property tax rate of 0.99%. These property tax bills directly impact homeowners by influencing their annual expenses and potentially affecting the affordability and desirability of owning property in Gower.
Average Gower Tax Bill
$1,791
Average Buchanan County Tax Bill
$904
Average Missouri Tax Bill
$1,606
Average United States Tax Bill
$2,690
Property Tax Bills Across Gower, Buchanan County, Missouri
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 64454 | $705 | $1,194 | $1,791 | $2,402 | $3,296 |
Source: Ownwell