Montrose, Missouri Property Taxes
The median property tax rate in Montrose, MO is 0.83%, which is lower than both the national median of 0.99% and the Missouri state median of 1.20%. With the median home value in Montrose being $5,400, the typical annual property tax bill is approximately $45, significantly below the national median of $2,690. Property taxes in Montrose are calculated based on the assessed value, which is often lower than the market value due to various exemptions, such as primary residence and agricultural exemptions. Understanding Montrose'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 Montrose or another part of Morgan County, understanding the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Montrose, 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 Montrose Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Montrose with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Montrose 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 Montrose, Missouri
Property taxes in Montrose, Missouri, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Montrose is 0.83%, which is lower than both the Missouri state median and the U.S. national median of 0.99%. Local government entities within Montrose set these rates annually, and they can vary significantly across different neighborhoods. Each year, Montrose 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 Montrose's effective property tax rate to other counties in Missouri and the national median. For comparison, the zip code 64770 has both the highest and lowest median property tax rate of 0.83%, highlighting a uniform tax rate within the area. Understanding how these figures compare with Montrose 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 Montrose 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 Montrose, Missouri
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 64770 | 0.83% | 0.83% | 0.83% | 0.83% | 0.83% |
Source: Ownwell
Property Tax Assessment Values Across Montrose, Missouri
In Montrose, 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 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 Montrose, 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 Montrose helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Montrose Assessed Value
$5,400
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 Montrose, Missouri
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 64770 | $5,400 | $5,400 | $5,400 | $5,400 | $5,400 |
Source: Ownwell
Property Tax Bills Across Montrose, Missouri
In Montrose, located in Morgan County, MO, property tax bills are calculated based on the assessed value of a property. The assessed value is a percentage of the property's market value, which is determined by local assessors. For homeowners in Montrose, the median home price is notably low at $5,400, influencing the overall tax bill significantly. The property tax rate in Montrose is applied to the assessed value to determine the annual tax bill. Factors such as property improvements, market conditions, and local government budgets can affect the assessed value and, consequently, the tax bill. In Montrose, property tax bills tend to be uniform, with the 25th, 75th, and 90th percentiles all reporting a tax bill of $45. This consistency provides homeowners with predictability in their annual expenses. Compared to the national median property tax rate of 0.99%, Montrose homeowners benefit from relatively lower property tax bills, making it an attractive location for those seeking affordable living costs.
Average Montrose Tax Bill
$45
Average Morgan County Tax Bill
$420
Average Missouri Tax Bill
$1,606
Average United States Tax Bill
$2,690
Property Tax Bills Across Montrose, Missouri
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 64770 | $45 | $45 | $45 | $45 | $45 |
Source: Ownwell