Montgomery City, Callaway County, Missouri Property Taxes
The median property tax rate in Montgomery City, MO is 1.04%, slightly higher than the national median of 0.99% but lower than Missouri's state median of 1.20%. With the median home value in Montgomery City at $86,300, the typical annual property tax bill is $921, which is below the national median of $2,690. Property taxes in Montgomery City are calculated based on the assessed value, which often falls below the market value due to exemptions like the primary residence and agricultural exemptions. Understanding Montgomery City'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 Montgomery City or another part of Callaway County, grasping the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Montgomery City, Callaway County, Missouri Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.04%
Estimate Property Tax Bill
$898
$833
Ownwell’s Montgomery City Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Montgomery City with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Montgomery City 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 Montgomery City, Callaway County, Missouri
Property taxes in Montgomery City, Missouri, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Montgomery City is 1.04%, which is higher than the U.S. national median of 0.99%. Local government entities within Montgomery City set these rates annually, and they can vary significantly across different neighborhoods. Each year, Montgomery City 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 Montgomery City's effective property tax rate to other areas in Missouri and the national median. For comparison, the zip code 63361 in Montgomery City has the highest median property tax rate of 1.04%, while the same zip code also has the lowest median tax rate of 1.04%. Understanding how these figures compare with Montgomery City provides valuable insights into the varying tax landscape across Callaway County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Montgomery City Tax Rate
1.04%
Average Callaway County Tax Rate
1.19%
Average Missouri Tax Rate
1.20%
Average United States Tax Rate
0.99%
Property Tax Rates Across Montgomery City, Callaway County, Missouri
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 63361 | 0.73% | 0.90% | 1.04% | 1.16% | 1.20% |
Source: Ownwell
Property Tax Assessment Values Across Montgomery City, Callaway County, Missouri
In Montgomery City, 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 Callaway 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 Montgomery City, 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. For instance, the median home price in Montgomery City is $86,300, with tax bills ranging from $417 at the 25th percentile to $2,414 at the 90th percentile. 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 Montgomery City helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Property Tax Assessment Values Across Montgomery City, Callaway County, Missouri
Source: Ownwell
$41,010
$92,250
$143,490
Average Montgomery City Assessed Value
$86,300
Average Callaway County Assessed Value
$118,130
Average Missouri Assessed Value
$129,505
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Montgomery City, Callaway County, Missouri
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 63361 | $25,740 | $41,448 | $86,300 | $160,318 | $222,215 |
Source: Ownwell
Property Tax Bills Across Montgomery City, Callaway County, Missouri
In Montgomery City, located in Callaway County, MO, property tax bills are calculated based on the assessed value of a home, which is a percentage of its market value. The assessed value is then multiplied by the local tax rate to determine the tax bill. For instance, the median home price in Montgomery City is $86,300. Property tax bills in this area can vary significantly, with the 25th percentile tax bill at $417 and the 75th percentile reaching $1,734. The 90th percentile tax bill can be as high as $2,414, indicating a wide range of tax burdens depending on property values and other factors. Several elements influence the final tax bill, including property improvements, neighborhood developments, and changes in local tax rates. Homeowners in Montgomery City should be aware that their property taxes directly fund local services such as schools, public safety, and infrastructure. This means that while higher property taxes can be a financial burden, they also contribute to the overall quality of life in the community.
Average Montgomery City Tax Bill
$921
Average Callaway County Tax Bill
$1,342
Average Missouri Tax Bill
$1,606
Average United States Tax Bill
$2,690
Property Tax Bills Across Montgomery City, Callaway County, Missouri
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 63361 | $195 | $417 | $921 | $1,734 | $2,414 |
Source: Ownwell