Garden City, Missouri Property Taxes
The median property tax rate in Garden City, MO is 1.13%, slightly higher than the national median of 0.99% but lower than the Missouri state median of 1.20%. With the median home value in Garden City at $82,498, the typical annual property tax bill reaches $852, which is below the national median of $2,690. Property taxes in Garden City 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 Garden 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 Garden City 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
Garden City, Missouri Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.13%
Estimate Property Tax Bill
$932
Ownwell’s Garden City Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Garden City with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Garden 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 Garden City, Missouri
Property taxes in Garden 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 Garden City is 1.13%, higher than both the Missouri state median and the U.S. national median of 0.99%. Local government entities within Garden City set these rates annually, and they can vary significantly across different neighborhoods. Each year, Garden 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 Garden City's effective property tax rate to other counties in Missouri and the national median. For comparison, the zip code 64747 has the highest median property tax rate of 1.13%, while the same zip code also has the lowest median tax rate of 1.13%. Understanding how these areas compare with Garden City provides valuable insights into the varying tax landscape across Johnson County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Garden City Tax Rate
1.13%
Average Johnson County Tax Rate
1.24%
Average Missouri Tax Rate
1.20%
Average United States Tax Rate
0.99%
Property Tax Rates Across Garden City, Missouri
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 64747 | 0.88% | 1.04% | 1.13% | 1.18% | 1.18% |
Source: Ownwell
Property Tax Assessment Values Across Garden City, Missouri
In Garden 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 Johnson 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 Garden 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. By understanding the distinction between these valuation concepts, property owners can better navigate their tax responsibilities and comprehend how their property taxes are determined. The median home price in Garden City is $82,498. The zip code with the highest median tax bill is 64747, with a bill of $852. By being aware of these valuation processes, property owners can identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Garden City Assessed Value
$82,498
Average Johnson County Assessed Value
$74,883
Average Missouri Assessed Value
$129,505
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Garden City, Missouri
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 64747 | $3,881 | $12,418 | $82,498 | $107,140 | $120,953 |
Source: Ownwell
Property Tax Bills Across Garden City, Missouri
In Garden City, located in Johnson County, MO, property tax bills are calculated based on the assessed value of a home, which is determined by the county assessor. The assessed value is a percentage of the property's market value. For example, with the median home price at $82,498, the assessed value will be a fraction of this amount. The local tax rate is then applied to this assessed value to determine the annual tax bill. Several factors influence the final tax bill, including the property's location, improvements, and any applicable exemptions. Homeowners in Garden City can expect tax bills to vary significantly. For instance, the 25th percentile tax bill is $147, while the 75th percentile reaches $1,039, and the 90th percentile hits $1,500. These variations reflect differences in property values and exemptions. Compared to the national median property tax rate of 0.99%, Garden City's tax bills can be both lower and higher, affecting homeowners differently based on their property's assessed value and the specific tax rate applied.
Average Garden City Tax Bill
$852
Average Johnson County Tax Bill
$947
Average Missouri Tax Bill
$1,606
Average United States Tax Bill
$2,690
Property Tax Bills Across Garden City, Missouri
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 64747 | $46 | $147 | $852 | $1,039 | $1,500 |
Source: Ownwell