Plato, Missouri Property Taxes
The median property tax rate in Plato, MO is 0.65%, which is significantly lower than both the national median of 0.99% and the Missouri state median of 1.20%. With the median home value in Plato at $102,010, the typical annual property tax bill amounts to $664, well below the national median of $2,690. Property taxes in Plato are calculated based on the tax assessed value, which often falls below market value due to various exemptions, including those for primary residences and agricultural land. By understanding Plato's property tax system, exploring available exemptions, and identifying opportunities for reductions, homeowners and real estate investors can achieve substantial annual savings. Whether you're in the heart of Plato or another part of Pulaski County, gaining insight into the local property tax system is crucial for maximizing your financial benefits.
Last Updated June 14, 2024
Plato, 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 Plato Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Plato with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Plato 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 Plato, Missouri
Property taxes in Plato, Missouri, are vital in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Plato is 0.65%, which is lower than the U.S. national median of 0.99%. Local government entities within Plato set these rates annually, and they can vary significantly across different neighborhoods. Each year, Plato 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 Plato's effective property tax rate to other regions and the national median. For comparison, the 65552 zip code has the median property tax rate of 0.65%. Understanding how these cities compare with Plato provides valuable insights into the varying tax landscape across Pulaski County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Plato Tax Rate
0.65%
Average Pulaski County Tax Rate
0.74%
Average Missouri Tax Rate
1.20%
Average United States Tax Rate
0.99%
Property Tax Rates Across Plato, Missouri
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 65552 | 0.64% | 0.65% | 0.65% | 0.65% | 0.65% |
Source: Ownwell
Property Tax Assessment Values Across Plato, Missouri
Understanding the difference between "market value" and "assessed value" is crucial for comprehending property taxes in Plato, Missouri. 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 Pulaski 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 Plato, 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. The highest median tax bill in Plato is $664.00 in the 65552 zip code, while the lowest median tax bill is also $664.00 in the same zip code. Being aware of these valuation processes helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Plato Assessed Value
$102,010
Average Pulaski County Assessed Value
$115,944
Average Missouri Assessed Value
$129,505
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Plato, Missouri
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 65552 | $22,786 | $38,208 | $102,010 | $159,688 | $204,939 |
Source: Ownwell
Property Tax Bills Across Plato, Missouri
In Plato, located in Pulaski 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, which is determined by the county assessor. Once the assessed value is established, the local tax rate is applied to calculate the tax bill. Factors such as property improvements, neighborhood developments, and market trends can influence the assessed value, thereby affecting the tax bill. For homeowners in Plato, the median home price stands at $102,010. The property tax rate in the area is influenced by local government budgets and public service funding requirements. Tax bills can vary significantly, with the 25th percentile at $249 and the 75th percentile reaching $1,040. The 90th percentile tax bill is $1,334, highlighting the range of property tax burdens within the community. Compared to the national median property tax rate of 0.99%, Plato's tax rates reflect local economic conditions and public service needs. Understanding these factors helps homeowners anticipate their financial obligations and plan accordingly.
Average Plato Tax Bill
$664
Average Pulaski County Tax Bill
$872
Average Missouri Tax Bill
$1,606
Average United States Tax Bill
$2,690
Property Tax Bills Across Plato, Missouri
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 65552 | $148 | $249 | $664 | $1,040 | $1,334 |
Source: Ownwell