New Bloomfield, Callaway County, Missouri Property Taxes
The median property tax rate in New Bloomfield, MO is 1.09%, slightly above the national median of 0.99% but lower than the Missouri state median of 1.20%. With a median home value of $126,090 in New Bloomfield, the typical annual property tax bill amounts to $1,396, which is below the national median of $2,690. Property taxes in New Bloomfield are based on the assessed value, which is often less than the market value due to exemptions such as those for primary residences and agricultural properties. Understanding the intricacies of New Bloomfield's property tax system, exploring available exemptions, and identifying potential reductions can lead to substantial yearly savings. Whether you reside in the heart of New Bloomfield or its surrounding areas, gaining insights into the local property tax system is beneficial for both homeowners and real estate investors.
Last Updated June 14, 2024
New Bloomfield, Callaway County, Missouri Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.09%
Estimate Property Tax Bill
$1,374
$1,275
Ownwell’s New Bloomfield Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in New Bloomfield with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in New Bloomfield 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 New Bloomfield, Callaway County, Missouri
Property taxes in New Bloomfield, Missouri, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in New Bloomfield is 1.09%, higher than both the Missouri state median and the U.S. national median of 0.99%. Local government entities within New Bloomfield set these rates annually, and they can vary significantly across different neighborhoods. Each year, New Bloomfield 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 New Bloomfield's effective property tax rate to other counties in Missouri and the national median. For comparison, the 65063 zip code has the highest median property tax rate of 1.09%, while the same zip code also has the lowest median tax rate of 1.09%. Understanding how these cities compare with New Bloomfield 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 New Bloomfield Tax Rate
1.09%
Average Callaway County Tax Rate
1.19%
Average Missouri Tax Rate
1.20%
Average United States Tax Rate
0.99%
Property Tax Rates Across New Bloomfield, Callaway County, Missouri
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 65063 | 0.89% | 1.06% | 1.09% | 1.17% | 1.35% |
Source: Ownwell
Property Tax Assessment Values Across New Bloomfield, Callaway County, Missouri
In New Bloomfield, 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 New Bloomfield, 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 New Bloomfield helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The zip code 65063 has the highest and lowest median tax bill at $1,396.
Property Tax Assessment Values Across New Bloomfield, Callaway County, Missouri
Source: Ownwell
$41,010
$92,250
$143,490
Average New Bloomfield Assessed Value
$126,090
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 New Bloomfield, Callaway County, Missouri
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 65063 | $37,152 | $74,575 | $126,090 | $170,820 | $221,562 |
Source: Ownwell
Property Tax Bills Across New Bloomfield, Callaway County, Missouri
In New Bloomfield, property tax bills are calculated based on the assessed value of a property, which is a percentage of its market value. The assessed value is then multiplied by the local property tax rate to determine the annual tax bill. For instance, in Callaway County, where New Bloomfield is located, the median home price is $126,090. Homeowners in the 25th percentile pay around $880 annually, while those in the 75th percentile face a tax bill of approximately $1,894. The 90th percentile sees even higher bills, reaching up to $2,448. Several factors influence these tax bills, including property location, market trends, and any applicable exemptions. The highest median tax bill in the region is $1,396, found in the 65063 zip code. These property taxes directly impact homeowners by affecting their monthly mortgage payments and overall housing costs. Compared to the national median property tax rate of 0.99%, New Bloomfield's rates reflect local economic conditions and municipal budget requirements.
Average New Bloomfield Tax Bill
$1,396
Average Callaway County Tax Bill
$1,342
Average Missouri Tax Bill
$1,606
Average United States Tax Bill
$2,690
Property Tax Bills Across New Bloomfield, Callaway County, Missouri
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 65063 | $383 | $880 | $1,396 | $1,894 | $2,448 |
Source: Ownwell