Protem, Missouri Property Taxes
The median property tax rate in Protem, MO is 0.81%, which is lower than both the national median of 0.99% and the Missouri state median of 1.20%. Given the median home value in Protem, the typical annual property tax bill amounts to $904, significantly below the national median of $2,690. Property taxes in Protem are calculated based on the tax assessed value, which often falls below the market value due to various exemptions like primary residence and agricultural exemptions. Understanding Protem's property tax system, exploring available exemptions, and identifying opportunities for reductions can lead to substantial annual savings. Whether you're in the heart of Protem 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
Protem, Missouri Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.81%
Estimate Property Tax Bill
$904
Ownwell’s Protem Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Protem with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Protem 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 Protem, Missouri
Property taxes in Protem, Missouri, are crucial for funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Protem is 0.81%, lower than both the Missouri state median and the U.S. national median of 0.99%. Local government entities within Protem set these rates annually, and they can vary significantly across different neighborhoods. Each year, Protem 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 Protem's effective property tax rate to other areas in Missouri and the national median. For comparison, the 65733 zip code has both the highest and lowest median property tax rate of 0.81%. Understanding how these areas compare with Protem provides valuable insights into the varying tax landscape across Ozark County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Protem Tax Rate
0.81%
Average Ozark County Tax Rate
0.74%
Average Missouri Tax Rate
1.20%
Average United States Tax Rate
0.99%
Property Tax Rates Across Protem, Missouri
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 65733 | 0.72% | 0.76% | 0.81% | 0.81% | 0.81% |
Source: Ownwell
Property Tax Assessment Values Across Protem, Missouri
In Protem, 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 Ozark 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 Protem, 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 Protem helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. Notably, the highest and lowest median tax bills in the area are both $904.00 in the 65733 zip code.
Average Protem Assessed Value
$111,600
Average Ozark County Assessed Value
$64,800
Average Missouri Assessed Value
$129,505
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Protem, Missouri
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 65733 | $30,180 | $56,200 | $111,600 | $152,500 | $176,240 |
Source: Ownwell
Property Tax Bills Across Protem, Missouri
In Protem, located in Ozark County, MO, property tax bills are calculated based on the assessed value of a home, which is determined by the county assessor. The assessed value is a percentage of the property's market value. For instance, with a median home price of $111,600, the assessed value would be a fraction of this market price. The local tax rate is then applied to this assessed value to determine the annual tax bill. Several factors influence the property tax bill, including the property's location, its assessed value, and the specific tax rate set by local authorities. In Protem, property tax bills vary significantly, with the 25th percentile at $444 and the 75th percentile at $1232. At the higher end, the 90th percentile tax bill reaches $1350. Homeowners in Protem see a range of tax bills, which can impact their overall housing costs. By understanding how these bills are calculated, residents can better anticipate their annual expenses and plan accordingly.
Average Protem Tax Bill
$904
Average Ozark County Tax Bill
$481
Average Missouri Tax Bill
$1,606
Average United States Tax Bill
$2,690
Property Tax Bills Across Protem, Missouri
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 65733 | $228 | $444 | $904 | $1,232 | $1,350 |
Source: Ownwell