Lewistown, Missouri Property Taxes
The median property tax rate in Lewistown, MO is 1.15%, slightly higher than the national median of 0.99% but lower than the Missouri state median of 1.20%. With a median home value of $33,140 in Lewistown, the typical annual property tax bill is $328, which is significantly lower than the national median of $2,690. Property taxes in Lewistown are calculated based on the tax assessed value, which often falls below the market value due to various exemptions such as primary residence and agricultural exemptions. Understanding Lewistown'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 Lewistown or another part of Lewis County, understanding the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Lewistown, Missouri Property Tax Bill Calculator
$100,000
$2,500,000
$5,000,000
Average Tax Rate
1.2%
Estimate Property Tax Bill
$2,400
Ownwell’s Lewistown Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Lewistown with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Lewistown 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 Lewistown, Missouri
Property taxes in Lewistown, Missouri, are vital in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Lewistown is 1.15%, higher than both the Missouri state median and the U.S. national median of 0.99%. Local government entities within Lewistown set these rates annually, and they can vary significantly across different neighborhoods. Each year, Lewistown 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 Lewistown's effective property tax rate to other counties in Missouri and the national median. For comparison, the 63452 zip code has the highest median property tax rate of 1.15%, while the 63452 zip code also has the lowest median tax rate of 1.15%. Understanding how these cities compare with Lewistown provides valuable insights into the varying tax landscape across Lewis County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Lewistown Tax Rate
1.15%
Average Lewis County Tax Rate
1.06%
Average Missouri Tax Rate
1.20%
Average United States Tax Rate
0.99%
Property Tax Rates Across Lewistown, Missouri
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 63452 | 0.90% | 1.04% | 1.15% | 1.16% | 1.17% |
Source: Ownwell
Property Tax Assessment Values Across Lewistown, Missouri
In Lewistown, 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 Lewis County Assessor's Office 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 Lewistown, 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 Lewistown helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The highest and lowest median tax bills in the area are both $328, found in the 63452 zip code.
Average Lewistown Assessed Value
$33,140
Average Lewis County Assessed Value
$40,000
Average Missouri Assessed Value
$129,505
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Lewistown, Missouri
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 63452 | $11,286 | $18,245 | $33,140 | $56,670 | $89,486 |
Source: Ownwell
Property Tax Bills Across Lewistown, Missouri
In Lewistown, Lewis County, MO, property tax bills are calculated based on the assessed value of a home, which is derived from a percentage of the market value. The assessed value is then multiplied by the local tax rate to determine the tax bill. For homeowners in Lewistown, the median home price stands at $33,140. The property tax rate in this region leads to different tax bills across various percentiles. For instance, homeowners in the 25th percentile can expect a tax bill around $192, while those in the 75th percentile might see a tax bill closer to $615. At the 90th percentile, the tax bill can rise to approximately $982. The highest and lowest median tax bills in the area are both $328, found in the 63452 zip code. This variability in tax bills underscores the influence of property values and tax rates on homeowners, impacting their annual financial obligations.
Average Lewistown Tax Bill
$328
Average Lewis County Tax Bill
$410
Average Missouri Tax Bill
$1,606
Average United States Tax Bill
$2,690
Property Tax Bills Across Lewistown, Missouri
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 63452 | $124 | $192 | $328 | $615 | $982 |
Source: Ownwell