Monroe City, Monroe County, Missouri Property Taxes
Median Monroe City, MO effective property tax rate: 1.15%, significantly higher than the national median of 1.02%, but lower than the Missouri state median of 1.20%.
Median Monroe City, MO home value: $30,200
Median annual Monroe City, MO tax bill: $317, $2,083 lower than the national median property tax bill of $2,400.
How are property taxes in Monroe calculated?
Property taxes in Monroe City, MO are calculated based on the tax assessed value, which is often lower than the actual market value due to property tax exemptions such as the homestead or senior exemption.
Understanding Monroe City’s property tax system, exemptions, and reduction opportunities can lead to significant savings. Regardless of where you live in Monroe City, knowing local tax details benefits homeowners and investors.
Last Updated March 1, 2025
Monroe City, Monroe County, Missouri Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Median Effective Tax Rate
1.15%
Estimate Property Tax Bill
$347
$322
Property Tax Rates Across Monroe City, Monroe County, Missouri
Local government entities set tax rates, which can vary widely within a state. This is because each county annually estimates its required budget to provide services and divides that by the total value of all taxable property within its jurisdiction, resulting in the property tax rate. While there are votes and laws involved in setting tax rates and budgets, in a nutshell, this is the annual process.
Monroe City in Monroe County, MO, presents an intriguing case for property tax analysis. Monroe City's effective property tax rate stands at 1.15%, which aligns with the highest and lowest median tax rates in Missouri's Monroe County. This figure is notably above the national median property tax rate of 1.02%. Such a comparison highlights the relative burden on property owners in Monroe City compared to the average U.S. homeowner. Understanding these nuances is crucial for property owners aiming to manage their tax liabilities effectively. By staying informed and considering professional property tax appeal services, homeowners can potentially reduce their tax bills and alleviate some of the financial pressures associated with property ownership.
Our median effective property tax rate (tax bill ÷ assessor's market value) accounts for exemptions and deductions, making it more accurate than the general median tax rate, which is the midpoint of statutory rates before adjustments.
Median Effective Monroe City Tax Rate
1.15%
Our median effective property tax rate (tax bill ÷ assessor's market value) accounts for exemptions and deductions, making it more accurate than the general median tax rate, which is the midpoint of statutory rates before adjustments.
Median Effective Monroe County Tax Rate
0.97%
Median Effective Missouri Tax Rate
1.20%
Median Effective United States Tax Rate
1.02%
Property Tax Rates Across Monroe City, Monroe County, Missouri
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 63456 | 0.78% | 0.94% | 1.15% | 1.32% | 1.33% |
Source: Ownwell
Property Tax Assessment Values Across Monroe City, Monroe County, Missouri
When examining property taxes in Monroe City, MO, understanding the distinction between "market value" and "assessed value" is crucial. The market value is what a willing buyer would pay to a willing seller in an open and competitive market, often influenced by location, property condition, and economic market trends. The Monroe County Assessor estimates the market value for tax purposes. The assessed value is the market value minus any applicable exemptions or limits determined by local laws and offerings. The tax assessed value is the figure used to calculate your property taxes or the amount multiplied by your tax rate to get your tax bill.
In Monroe County, assessment notices are sent in the spring each year. They’ll typically reach your mailbox by the middle of May. Each property owner receives an assessment notice that contains both the market value and assessed value, along with an estimate of your property tax bill. By providing insights into how assessed and market values are determined, this section helps property owners navigate their tax responsibilities and understand the valuation processes affecting their property taxes in Monroe City.
For example, the median home price in Monroe City is $30,200, with tax bills ranging significantly across the county. Zip code 63456 has the highest median home price at $30,200.
Property Tax Assessment Values Across Monroe City, Monroe County, Missouri
Source: Ownwell
$8,200
$74,500
$140,800
Median Monroe City Market Value
$30,200
Median Monroe County Market Value
$49,250
Median Missouri Market Value
$129,505
Median United States Market Value
$235,294
Property Tax Assessment Values Across Monroe City, Monroe County, Missouri
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 63456 | $3,600 | $7,750 | $30,200 | $91,150 | $174,300 |
Source: Ownwell
Property Tax Bills Across Monroe City, Monroe County, Missouri
In Monroe City, property tax bills are calculated based on the assessed value of a home, which is a percentage of the market value. The local tax rate is then applied to this assessed value to determine the annual tax bill. Factors such as changes in market conditions and local government budgets can influence these rates, impacting homeowners' financial obligations. For many in Monroe City, the tax bill can range significantly, with the 25th percentile at $95 and the 90th percentile at $1,634. This variability can create financial strain for homeowners, especially when compared to the national median property tax bill of $2,400.
Ownwell offers valuable assistance by providing property tax appeal services. By analyzing your property's assessment and ensuring it's accurate, Ownwell can help identify potential savings. If your property is over-assessed, Ownwell will work to appeal and reduce your tax bill, potentially saving you hundreds of dollars annually. This service not only provides financial relief but also peace of mind, knowing your property taxes are fair and manageable.
Median Monroe City Tax Bill
$317
Median Monroe County Tax Bill
$442
Median Missouri Tax Bill
$1,606
Median United States Tax Bill
$2,400
Property Tax Bills Across Monroe City, Monroe County, Missouri
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 63456 | $47 | $95 | $317 | $838 | $1,634 |
Source: Ownwell