Metamora, Missouri Property Taxes
The median property tax rate in Metamora, Missouri is 0.91%, slightly below the national median of 0.99% and significantly lower than the Missouri state median of 1.20%. With the median home value in Metamora, the typical annual property tax bill reaches $10, well below the national median of $2,690. Property taxes in Metamora 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 Metamora'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 Metamora 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
Metamora, Missouri Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.91%
Estimate Property Tax Bill
$10
Ownwell's Metamora Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Metamora with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Metamora 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 Morgan County for property tax calculations, accounting for any exemptions that may apply.
Property Tax Rates Across Metamora, Missouri
Property taxes in Metamora, Missouri, are crucial for funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Metamora is 0.91%, slightly below the U.S. national median of 0.99%. Local government entities within Metamora set these rates annually, and they can vary significantly across different neighborhoods. Each year, Metamora 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 Metamora's effective property tax rate to other counties in Missouri and the national median. For comparison, the highest median property tax rate in the region is 1.12%, while the lowest median tax rate is 0.78%. Understanding how these cities compare with Metamora 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 Metamora Tax Rate
0.91%
Average Morgan County Tax Rate
0.87%
Average Missouri Tax Rate
1.20%
Average United States Tax Rate
0.99%
Property Tax Rates Across Metamora, Missouri
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|
Source: Ownwell
Property Tax Assessment Values Across Metamora, Missouri
In Metamora, 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 Metamora, 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 Metamora helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Metamora Assessed Value
$1,100
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 Metamora, Missouri
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|
Source: Ownwell
Property Tax Bills Across Metamora, Missouri
In Metamora, located in Morgan County, MO, property tax bills are calculated based on the assessed value of the property. The assessed value is determined by the county assessor's office, which evaluates the property's market value and then applies an assessment ratio. This ratio typically represents a percentage of the market value, which varies by property type and local regulations. For homeowners in Metamora, the median home price is relatively low at $1,100, which influences the overall tax bill. Property tax rates in Metamora are then applied to this assessed value to determine the annual tax bill. For example, a property assessed at $1,100 with a tax rate of 0.99% would result in a tax bill of approximately $10. This rate is in line with the national median property tax rate of 0.99%. Factors such as property improvements, neighborhood changes, and local government budgets can also affect the assessed value and, consequently, the tax bill. Homeowners in Metamora should be aware of these factors as they directly impact their annual property tax obligations.
Average Metamora Tax Bill
$10
Average Morgan County Tax Bill
$420
Average Missouri Tax Bill
$1,606
Average United States Tax Bill
$2,690
Property Tax Bills Across Metamora, Missouri
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
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Source: Ownwell