Mount Sterling, Missouri Property Taxes
The median property tax rate in Mount Sterling, MO is 0.94%, slightly below the national median of 0.99% and significantly lower than the Missouri state median of 1.20%. With a median home value of $20,390 in Mount Sterling, the typical annual property tax bill amounts to $218, which is far below the national median of $2,690. Property taxes in Mount Sterling are calculated based on the assessed value, often lower than the market value due to exemptions like primary residence and agricultural exemptions. Understanding Mount Sterling'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 Mount Sterling 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
Mount Sterling, Missouri Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.94%
Estimate Property Tax Bill
$192
Ownwell’s Mount Sterling Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Mount Sterling with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Mount Sterling 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 Mount Sterling, Missouri
Property taxes in Mount Sterling, Missouri, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Mount Sterling is 0.94%, which is lower than the U.S. national median of 0.99%. Local government entities within Mount Sterling set these rates annually, and they can vary significantly across different neighborhoods. Each year, Mount Sterling 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 Mount Sterling's effective property tax rate to other cities in Gasconade County and the national median. For comparison, the zip code 65062 has both the highest and lowest median property tax rate of 0.94%. Understanding how these cities compare with Mount Sterling provides valuable insights into the varying tax landscape across Gasconade County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Mount Sterling Tax Rate
0.94%
Average Gasconade County Tax Rate
1.08%
Average Missouri Tax Rate
1.20%
Average United States Tax Rate
0.99%
Property Tax Rates Across Mount Sterling, Missouri
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 65062 | 0.92% | 0.93% | 0.94% | 0.94% | 0.99% |
Source: Ownwell
Property Tax Assessment Values Across Mount Sterling, Missouri
In Mount Sterling, 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 Gasconade 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 Mount Sterling, 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 Mount Sterling helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. In Mount Sterling, the zip code 65062 has the highest and lowest median tax bill, both at $218. The median home price in this area is $20,390, with tax bills ranging from $161 at the 25th percentile to $492 at the 90th percentile.
Average Mount Sterling Assessed Value
$20,390
Average Gasconade County Assessed Value
$40,105
Average Missouri Assessed Value
$129,505
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Mount Sterling, Missouri
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 65062 | $11,132 | $17,280 | $20,390 | $24,820 | $54,238 |
Source: Ownwell
Property Tax Bills Across Mount Sterling, Missouri
Property tax bills in Mount Sterling, Gasconade County, MO, are calculated based on the assessed value of a property, which is determined by the county assessor. The assessed value is typically a percentage of the property's market value. Once the assessed value is established, it is multiplied by the local tax rate to determine the annual tax bill. In Mount Sterling, the tax bills can vary significantly. For instance, the tax bill at the 25th percentile is $161, while at the 75th percentile, it rises to $242. At the 90th percentile, homeowners may see tax bills as high as $492. The median home price in the area is $20,390, which provides a basis for these calculations. This variability in tax bills can significantly impact homeowners, influencing their monthly budgets and long-term financial planning. Compared to the national median property tax rate of 0.99%, the tax rates in Mount Sterling are relatively modest, but the actual amount paid can still vary widely depending on property values and specific local rates.
Average Mount Sterling Tax Bill
$218
Average Gasconade County Tax Bill
$439
Average Missouri Tax Bill
$1,606
Average United States Tax Bill
$2,690
Property Tax Bills Across Mount Sterling, Missouri
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 65062 | $104 | $161 | $218 | $242 | $492 |
Source: Ownwell