Bowling Green, Missouri Property Taxes
The median property tax rate in Bowling Green, MO is 0.99%, aligning exactly with the national median of 0.99% but lower than the Missouri state median of 1.20%. With a median home value of $101,865 in Bowling Green, the typical annual property tax bill amounts to $986, which is below the national median of $2,690. Property taxes in Bowling Green are calculated based on the tax assessed value, often lower than the market value due to exemptions like the primary residence and agricultural exemptions. Understanding Bowling Green'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 Bowling Green 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
Bowling Green, 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 Bowling Green Property Tax Bill Calculator is an essential tool for homeowners, real estate investors, or potential buyers to estimate their annual property taxes in Bowling Green with just two data points. By entering your property's estimated assessed value, the calculator uses the median tax rate in Bowling Green to provide an estimate of your property tax bill. This valuable tool helps you understand potential tax liabilities and make informed decisions. For those interested in more detailed trends at the neighborhood level, further localized information is available below. Your property’s assessed value is determined by Lincoln County for tax purposes, taking into account any applicable exemptions.
Property Tax Rates Across Bowling Green, Missouri
Property taxes in Bowling Green, Missouri, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Bowling Green is 0.99%, aligning with both the Missouri state median and the U.S. national median of 0.99%. Local government entities within Bowling Green set these rates annually, and they can vary significantly across different neighborhoods. Each year, Bowling Green 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 Bowling Green's effective property tax rate to other counties in Missouri and the national median. For comparison, the 63334 zip code has both the highest and lowest median property tax rate of 0.99%. Understanding how these cities compare with Bowling Green provides valuable insights into the varying tax landscape across Lincoln County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Bowling Green Tax Rate
0.99%
Average Lincoln County Tax Rate
1.17%
Average Missouri Tax Rate
1.20%
Average United States Tax Rate
0.99%
Property Tax Rates Across Bowling Green, Missouri
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 63334 | 0.86% | 0.95% | 0.99% | 1.00% | 1.08% |
Source: Ownwell
Property Tax Assessment Values Across Bowling Green, Missouri
In Bowling Green, 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 Lincoln 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 Bowling Green, 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 Bowling Green is $101,865, with tax bills ranging from $189 at the 25th percentile to $2,415 at the 90th percentile. The zip code with the highest median tax bill is 63334, amounting to $986. Being aware of these valuation processes helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Bowling Green Assessed Value
$101,865
Average Lincoln County Assessed Value
$149,220
Average Missouri Assessed Value
$129,505
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Bowling Green, Missouri
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 63334 | $2,795 | $19,225 | $101,865 | $133,115 | $223,415 |
Source: Ownwell
Property Tax Bills Across Bowling Green, Missouri
In Bowling Green, property tax bills are calculated based on the assessed value of a home, which is determined by the Lincoln County Assessor's office. The assessed value is a percentage of the property's market value, often set at a fraction of the full market price. For example, with a median home price of $101,865 in Bowling Green, the assessed value would be a portion of this amount. The property tax rate is then applied to this assessed value to determine the annual tax bill. Several factors influence the tax bill, including property improvements, neighborhood developments, and changes in the local tax rate. Homeowners in Bowling Green can expect varying tax bills, with the 25th percentile paying around $189, while those in the 75th percentile pay approximately $1,489. The highest tax bills can reach up to $2,415. These taxes fund essential local services like schools, public safety, and infrastructure, directly impacting the community's quality of life. Compared to the national median property tax rate of 0.99%, Bowling Green's rates offer a diverse range of tax obligations for homeowners.
Average Bowling Green Tax Bill
$986
Average Lincoln County Tax Bill
$1,734
Average Missouri Tax Bill
$1,606
Average United States Tax Bill
$2,690
Property Tax Bills Across Bowling Green, Missouri
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 63334 | $21 | $189 | $986 | $1,489 | $2,415 |
Source: Ownwell