New Boston, Missouri Property Taxes
The median property tax rate in New Boston, MO is 0.99%, aligning with the national median of 0.99% but lower than the Missouri state median of 1.20%. With the median home value in New Boston at $43,000, the typical annual property tax bill is $420, significantly below the national median of $2,690. Property taxes in New Boston 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 New Boston'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 New Boston 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
New Boston, Missouri Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.99%
Estimate Property Tax Bill
$426
Ownwell’s New Boston Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in New Boston with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in New Boston 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 New Boston, Missouri
Property taxes in New Boston, Missouri, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in New Boston is 0.99%, which aligns with both the Missouri state median and the U.S. national median of 0.99%. Local government entities within New Boston set these rates annually, and they can vary significantly across different neighborhoods. Each year, New Boston 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 New Boston's effective property tax rate to other counties in Missouri and the national median. For comparison, the 63557 zip code has both the highest and lowest median property tax rate of 0.99%. Understanding how these cities compare with New Boston provides valuable insights into the varying tax landscape across Linn County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average New Boston Tax Rate
0.99%
Average Linn County Tax Rate
1.13%
Average Missouri Tax Rate
1.20%
Average United States Tax Rate
0.99%
Property Tax Rates Across New Boston, Missouri
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 63557 | 0.77% | 0.87% | 0.99% | 1.19% | 1.32% |
Source: Ownwell
Property Tax Assessment Values Across New Boston, Missouri
In New Boston, Missouri, understanding the distinction between "market value" and "assessed value" is crucial for comprehending property taxes. The market value represents 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 Linn County Assessor for tax purposes. Conversely, 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 New Boston, 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. With a median home price of $43,000, understanding these valuation concepts is essential for property owners to navigate their tax responsibilities. The highest median tax bill in the area is $420, found in the zip code 63557, which is also the lowest median tax bill. By being aware of these valuation processes, homeowners can identify opportunities for protesting assessments or applying for exemptions to effectively manage their tax burden.
Average New Boston Assessed Value
$43,000
Average Linn County Assessed Value
$25,200
Average Missouri Assessed Value
$129,505
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across New Boston, Missouri
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 63557 | $6,660 | $15,500 | $43,000 | $82,300 | $148,900 |
Source: Ownwell
Property Tax Bills Across New Boston, Missouri
Property tax bills in New Boston, located in Linn County, MO, are calculated based on the assessed value of the property and the local tax rate. The assessed value is a percentage of the property's market value, which in New Boston is determined by the county assessor. Once the assessed value is established, it is multiplied by the local tax rate to calculate the property tax bill. In New Boston, the median home price is $43,000. Homeowners in New Boston face a range of property tax bills, with the 25th percentile at $134 and the 75th percentile at $878. The 90th percentile sees tax bills as high as $1,512. The highest and lowest median tax bills in the area both stand at $420, highlighting some consistency in tax obligations. These property taxes fund essential services such as schools, public safety, and infrastructure, impacting homeowners by contributing to the community's overall quality of life. Compared to the national median property tax rate of 0.99%, New Boston's property tax rates offer a relatively moderate financial obligation for homeowners.
Average New Boston Tax Bill
$420
Average Linn County Tax Bill
$264
Average Missouri Tax Bill
$1,606
Average United States Tax Bill
$2,690
Property Tax Bills Across New Boston, Missouri
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 63557 | $67 | $134 | $420 | $878 | $1,512 |
Source: Ownwell