Bismarck, Missouri Property Taxes
The median property tax rate in Bismarck, MO is 1.07%, slightly above the national median of 0.99%, yet below Missouri's state median of 1.20%. With a median home value of $50,420 in Bismarck, the typical annual property tax bill is $568, which is significantly lower than the national median of $2,690. Property taxes in Bismarck are determined based on the assessed value, which is often less than the market value due to various exemptions, including those for primary residences and agricultural properties. By understanding Bismarck's property tax system, exploring available exemptions, and identifying opportunities for reductions, homeowners and real estate investors can achieve substantial annual savings. Whether residing in the heart of Bismarck or its surroundings, gaining insight into the local property tax structure is crucial for financial planning and investment strategies.
Last Updated June 14, 2024
Bismarck, Missouri Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.07%
Estimate Property Tax Bill
$539
Ownwell’s Bismarck Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Bismarck with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Bismarck 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 Bismarck, Missouri
Property taxes in Bismarck, Missouri, are vital in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Bismarck is 1.07%, higher than both the Missouri state median and the U.S. national median of 0.99%. Local government entities within Bismarck set these rates annually, and they can vary significantly across different neighborhoods. Each year, Bismarck 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 Bismarck's effective property tax rate to other counties in Missouri and the national median. For comparison, the 63624 zip code has both the highest and lowest median property tax rate of 1.07%. Understanding how these cities compare with Bismarck provides valuable insights into the varying tax landscape across St. Francois County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Bismarck Tax Rate
1.07%
Average St. Francois County Tax Rate
1.00%
Average Missouri Tax Rate
1.20%
Average United States Tax Rate
0.99%
Property Tax Rates Across Bismarck, Missouri
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 63624 | 0.98% | 1.03% | 1.07% | 1.19% | 1.23% |
Source: Ownwell
Property Tax Assessment Values Across Bismarck, Missouri
In Bismarck, 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 appraisal district 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. 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. In Bismarck, the highest median tax bill is $568 in the 63624 zip code, while the lowest median tax bill is also $568 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 Bismarck Assessed Value
$50,420
Average St. Francois County Assessed Value
$72,730
Average Missouri Assessed Value
$129,505
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Bismarck, Missouri
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 63624 | $9,692 | $23,880 | $50,420 | $104,470 | $153,280 |
Source: Ownwell
Property Tax Bills Across Bismarck, Missouri
Property tax bills in Bismarck, located in St. Francois County, MO, are calculated based on the assessed value of a property, which is a percentage of its market value. The median home price in the area is $50,420. Once the assessed value is determined, the local tax rate is applied to calculate the annual tax bill. For Bismarck, the property tax bills vary significantly, with the 25th percentile paying around $269, while the 75th percentile sees bills closer to $1,071. At the 90th percentile, homeowners might pay as much as $1,558 annually. These taxes fund essential public services like schools, roads, and emergency services, directly impacting the community's quality of life. Compared to the national median property tax rate of 0.99%, Bismarck's property tax rates reflect the local economic conditions and funding needs. Homeowners should be aware of these factors as they can significantly influence their annual financial planning and long-term investment in their property.
Average Bismarck Tax Bill
$568
Average St. Francois County Tax Bill
$732
Average Missouri Tax Bill
$1,606
Average United States Tax Bill
$2,690
Property Tax Bills Across Bismarck, Missouri
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 63624 | $107 | $269 | $568 | $1,071 | $1,558 |
Source: Ownwell