Gower, Missouri Property Taxes
The median property tax rate in Gower, MO is 0.83%, which is significantly lower than both the national median of 0.99% and the Missouri state median of 1.20%. With a median home value in Gower, the typical annual property tax bill amounts to $25, far below the national median of $2,690. Property taxes in Gower are calculated based on the tax assessed value, which often falls below the market value due to various exemptions like the primary residence and agricultural exemptions. Understanding Gower'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 Gower 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
Gower, Missouri Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.83%
Estimate Property Tax Bill
$25
Ownwell’s Gower Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Gower with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Gower 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 Gower, Missouri
Property taxes in Gower, Missouri, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Gower is 0.83%, which is below the U.S. national median of 0.99%. Local government entities within Gower set these rates annually, and they can vary significantly across different neighborhoods. Each year, Gower 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 Gower's effective property tax rate to other counties in Missouri and the national median. For comparison, the zip code 64454 has the highest median property tax rate of 0.83%, while the same zip code also has the lowest median tax rate of 0.83%. Understanding how these cities compare with Gower provides valuable insights into the varying tax landscape across Clinton County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Gower Tax Rate
0.83%
Average Morgan County Tax Rate
0.87%
Average Missouri Tax Rate
1.20%
Average United States Tax Rate
0.99%
Property Tax Rates Across Gower, Missouri
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 64454 | 0.83% | 0.83% | 0.83% | 0.83% | 0.83% |
Source: Ownwell
Property Tax Assessment Values Across Gower, Missouri
In Gower, 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 local county appraisal district 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 Gower, 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 Gower helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Gower Assessed Value
$3,000
Average Morgan County Assessed Value
$49,350
Average Missouri Assessed Value
$129,505
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Gower, Missouri
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 64454 | $3,000 | $3,000 | $3,000 | $3,000 | $3,000 |
Source: Ownwell
Property Tax Bills Across Gower, Missouri
In Gower, located in Morgan County, MO, property tax bills are calculated based on the assessed value of a home, which is a percentage of its market value. The local tax rate is then applied to this assessed value to determine the tax bill. Various factors influence the assessed value, including the property's location, size, and condition. For example, a median home price in Gower is $3,000, significantly lower than the national median property tax rate of 0.99%. The tax bills in Gower show minimal variation, with the 25th, 75th, and 90th percentiles all at $25. This consistency suggests a relatively uniform tax rate across different property values. For homeowners, this means predictable and manageable property tax expenses, contributing to financial stability. However, it's essential for property owners to stay informed about any changes in local tax rates or property assessments to avoid unexpected increases in their tax bills.
Average Gower Tax Bill
$25
Average Morgan County Tax Bill
$420
Average Missouri Tax Bill
$1,606
Average United States Tax Bill
$2,690
Property Tax Bills Across Gower, Missouri
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 64454 | $25 | $25 | $25 | $25 | $25 |
Source: Ownwell