Portland, Missouri Property Taxes
The median property tax rate in Portland, Missouri is 0.76%, which is notably lower than both the national median of 0.99% and the Missouri state median of 1.20%. With a median home value of $61,130 in Portland, the typical annual property tax bill is about $465, significantly below the national median of $2,690. Property taxes in Portland are determined based on the tax assessed value, which is often lower than the market value due to various exemptions, such as primary residence and agricultural exemptions. Understanding Portland's property tax system, exploring available exemptions, and identifying opportunities for reductions can lead to substantial annual savings. Whether you're in the heart of Portland or another part of the city, grasping the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Portland, Missouri Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.76%
Estimate Property Tax Bill
$465
Ownwell’s Portland Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Portland with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Portland 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 Portland, Missouri
Property taxes in Portland, Missouri, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Portland is 0.76%, which is lower than the U.S. national median of 0.99%. Local government entities within Portland set these rates annually, and they can vary significantly across different neighborhoods. Each year, Portland 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 Portland's effective property tax rate to other counties in Missouri and the national median. For comparison, the 65067 zip code has both the highest and lowest median property tax rate of 0.76%. Understanding how these cities compare with Portland 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 Portland Tax Rate
0.76%
Average Callaway County Tax Rate
1.19%
Average Missouri Tax Rate
1.20%
Average United States Tax Rate
0.99%
Property Tax Rates Across Portland, Missouri
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 65067 | 0.52% | 0.71% | 0.76% | 0.80% | 0.88% |
Source: Ownwell
Property Tax Assessment Values Across Portland, Missouri
In Portland, 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 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 Portland, 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 Portland helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The zip code with the highest median tax bill is 65067 with a value of $465, which is also the lowest median tax bill in the area.
Average Portland Assessed Value
$61,130
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 Portland, Missouri
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 65067 | $13,330 | $29,458 | $61,130 | $132,985 | $196,545 |
Source: Ownwell
Property Tax Bills Across Portland, Missouri
In Portland, 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 local tax rate is applied to this assessed value to determine the annual tax bill. Factors such as the property's location, size, and condition can influence its assessed value. For instance, the median home price in Portland is $61,130. Homeowners in the 25th percentile can expect a tax bill around $217, while those in the 75th percentile might see bills closer to $1,003. At the 90th percentile, tax bills can reach up to $1,467. These property taxes are crucial for funding public services like schools and infrastructure. However, they can also significantly impact homeowners' finances, especially when compared to the national median property tax rate of 0.99%. Understanding how these taxes are calculated helps homeowners better manage their budgets and anticipate future expenses.
Average Portland Tax Bill
$465
Average Callaway County Tax Bill
$1,342
Average Missouri Tax Bill
$1,606
Average United States Tax Bill
$2,690
Property Tax Bills Across Portland, Missouri
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 65067 | $102 | $217 | $465 | $1,003 | $1,467 |
Source: Ownwell