Truxton, Montgomery County, Missouri Property Taxes
The median property tax rate in Truxton, MO is 1.06%, slightly higher than the national median of 0.99% but lower than Missouri's state median of 1.20%. With a median home value of $89,100 in Truxton, the typical annual property tax bill amounts to $1,001, which is below the national median of $2,690. Property taxes here are calculated based on the tax assessed value, which is often less than the market value due to various exemptions such as primary residence and agricultural exemptions. Understanding Truxton'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 Truxton or another part of Montgomery County, understanding the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Truxton, Montgomery County, Missouri Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.06%
Estimate Property Tax Bill
$944
$876
Ownwell’s Truxton Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Truxton with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Truxton 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 Montgomery County for property tax calculations, accounting for any exemptions that may apply.
Property Tax Rates Across Truxton, Montgomery County, Missouri
Property taxes in Truxton, Missouri, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Truxton is 0.98%, slightly lower than the Missouri state median of 0.99% and the U.S. national median of 0.99%. Local government entities within Truxton set these rates annually, and they can vary significantly across different neighborhoods. Each year, Truxton 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 Truxton's effective property tax rate to other counties in Missouri and the national median. For comparison, the 63381 zip code has the highest median property tax rate of 1.06%, while the same zip code also has the lowest median tax rate of 1.06%. Understanding how these cities compare with Truxton provides valuable insights into the varying tax landscape across Montgomery County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Truxton Tax Rate
1.06%
Average Montgomery County Tax Rate
1.11%
Average Missouri Tax Rate
1.20%
Average United States Tax Rate
0.99%
Property Tax Rates Across Truxton, Montgomery County, Missouri
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 63381 | 1.05% | 1.06% | 1.06% | 1.10% | 1.11% |
Source: Ownwell
Property Tax Assessment Values Across Truxton, Montgomery County, Missouri
In Truxton, 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 Montgomery 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 Truxton, 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 Truxton helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The zip code 63381 has the highest median tax bill at $1001, while the lowest is also in the same zip code, ensuring consistency across the area.
Property Tax Assessment Values Across Truxton, Montgomery County, Missouri
Source: Ownwell
$17,450
$53,275
$89,100
Average Truxton Assessed Value
$89,100
Average Montgomery County Assessed Value
$47,300
Average Missouri Assessed Value
$129,505
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Truxton, Montgomery County, Missouri
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 63381 | $2,200 | $55,650 | $89,100 | $129,050 | $188,900 |
Source: Ownwell
Property Tax Bills Across Truxton, Montgomery County, Missouri
In Truxton, property tax bills are calculated based on the assessed value of a property, which is a percentage of its market value. The local tax rate is then applied to this assessed value to determine the annual tax bill. Factors such as property size, location, and market conditions influence the assessed value. The median home price in Truxton stands at $89,100, which helps in estimating the typical tax burden for homeowners. Homeowners in Truxton can expect their property tax bills to vary significantly. For instance, the 25th percentile tax bill is around $894, while the 75th percentile reaches up to $1,496, and the 90th percentile can be as high as $2,047. These figures highlight the range of tax obligations that can affect homeowners, depending on their property's assessed value. In comparison to the national median property tax rate of 0.99%, Truxton's rates reflect the local economic conditions and property values, impacting how much residents contribute to public services and community infrastructure.
Average Truxton Tax Bill
$1,001
Average Montgomery County Tax Bill
$560
Average Missouri Tax Bill
$1,606
Average United States Tax Bill
$2,690
Property Tax Bills Across Truxton, Montgomery County, Missouri
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 63381 | $324 | $894 | $1,001 | $1,496 | $2,047 |
Source: Ownwell