Junction City, Missouri Property Taxes
The median property tax rate in Junction City, MO is 2.29%, considerably higher than both the national median of 0.99% and the Missouri state median of 1.20%. With the median home value in Junction City, the typical annual property tax bill reaches $41, exceeding the national median of $2,690. Property taxes in Junction City are calculated based on the tax assessed value, which typically falls below the market value due to various exemptions like the primary residence and agricultural exemptions. Understanding Junction City'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 Junction City 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
Junction City, 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 Junction City Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Junction City with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Junction City 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 Junction City, Missouri
Property taxes in Junction City, Missouri, are vital in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Junction City is 2.29%, significantly higher than both the Missouri state median and the U.S. national median of 0.99%. Local government entities within Junction City set these rates annually, and they can vary significantly across different neighborhoods. Each year, Junction City 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 Junction City's effective property tax rate to other counties in Missouri and the national median. For comparison, the 66441 zip code has the highest median property tax rate of 2.29%, while the same 66441 zip code also has the lowest median tax rate of 2.29%. Understanding how these cities compare with Junction City provides valuable insights into the varying tax landscape across Morgan County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Junction City Tax Rate
2.29%
Average Morgan County Tax Rate
0.87%
Average Missouri Tax Rate
1.20%
Average United States Tax Rate
0.99%
Property Tax Rates Across Junction City, Missouri
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 66441 | 2.29% | 2.29% | 2.29% | 2.29% | 2.29% |
Source: Ownwell
Property Tax Assessment Values Across Junction City, Missouri
In Junction City, 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 Morgan 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 Junction City, 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 Junction City helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Junction City Assessed Value
$1,800
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 Junction City, Missouri
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 66441 | $1,800 | $1,800 | $1,800 | $1,800 | $1,800 |
Source: Ownwell
Property Tax Bills Across Junction City, Missouri
In Junction City, located in Morgan County, MO, property tax bills are calculated based on the assessed value of a home. The assessed value is a percentage of the home's market value, determined by county assessors. For homeowners in Junction City, the median home price is significantly lower than the national average, at just $1,800. This lower home value directly impacts the property tax bill, making it more manageable for residents. The property tax rate in Junction City aligns closely with the national median property tax rate of 0.99%. However, the actual tax bills can vary. For example, the tax bill at the 25th, 75th, and 90th percentiles is consistently $41, indicating a relatively stable tax environment. Factors such as property improvements, neighborhood changes, and local government budgets can influence the assessed value and, consequently, the tax bill. For homeowners, understanding these factors is crucial as they can affect annual financial planning and overall property affordability.
Average Junction City Tax Bill
$41
Average Morgan County Tax Bill
$420
Average Missouri Tax Bill
$1,606
Average United States Tax Bill
$2,690
Property Tax Bills Across Junction City, Missouri
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 66441 | $41 | $41 | $41 | $41 | $41 |
Source: Ownwell