Bourbon, Washington County, Missouri Property Taxes
The median property tax rate in Bourbon, MO is 1.07%, slightly higher than the national median of 0.99% but lower than the Missouri state median of 1.20%. With a median home value of $78,495, the typical annual property tax bill in Bourbon amounts to $834, which is significantly below the national median of $2,690. Property taxes in Bourbon are calculated based on the tax assessed value, often lower than the market value due to exemptions like those for primary residences and agricultural properties. Understanding Bourbon'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 Bourbon or another part of the city, gaining insight into the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Bourbon, Washington County, Missouri Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.07%
Estimate Property Tax Bill
$840
$779
Ownwell’s Bourbon Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Bourbon with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Bourbon 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 Bourbon, Washington County, Missouri
Property taxes in Bourbon, Missouri, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Bourbon is 1.07%, which is higher than the U.S. national median of 0.99%. Local government entities within Bourbon set these rates annually, and they can vary significantly across different neighborhoods. Each year, Bourbon 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 Bourbon's effective property tax rate to other counties in Missouri and the national median. For comparison, the 65441 zip code has the highest median property tax rate of 1.07%, while the same zip code also has the lowest median tax rate of 1.07%. Understanding how these cities compare with Bourbon provides valuable insights into the varying tax landscape across Washington County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Bourbon Tax Rate
1.07%
Average Washington County Tax Rate
0.96%
Average Missouri Tax Rate
1.20%
Average United States Tax Rate
0.99%
Property Tax Rates Across Bourbon, Washington County, Missouri
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 65441 | 0.89% | 1.00% | 1.07% | 1.10% | 1.10% |
Source: Ownwell
Property Tax Assessment Values Across Bourbon, Washington County, Missouri
Understanding the difference between "market value" and "assessed value" is crucial for comprehending property taxes in Bourbon, 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 Washington 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. In Bourbon, 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 helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The highest median tax bill in Bourbon is $834 in the 65441 zip code, while the lowest median tax bill is also $834 in the same zip code.
Property Tax Assessment Values Across Bourbon, Washington County, Missouri
Source: Ownwell
$14,300
$48,465
$82,630
Average Bourbon Assessed Value
$78,495
Average Washington County Assessed Value
$37,210
Average Missouri Assessed Value
$129,505
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Bourbon, Washington County, Missouri
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 65441 | $15,116 | $27,355 | $78,495 | $136,192 | $181,550 |
Source: Ownwell
Property Tax Bills Across Bourbon, Washington County, Missouri
In Bourbon, located in Washington County, MO, property tax bills are calculated based on the assessed value of a home, which is a percentage of its market value. Homeowners in Bourbon can expect their property tax bills to vary significantly, influenced by the assessed value and the local tax rate. For instance, the median home price in Bourbon stands at $78,495. Homeowners in the 25th percentile pay around $307 annually, while those in the 75th percentile face tax bills of approximately $1,472. The highest tax bills, reaching the 90th percentile, can be as much as $1,990. These variations in tax bills reflect the differences in property values and the corresponding assessed amounts. The median tax bill in Bourbon, pegged at $834, is aligned with the highest and lowest median tax bills observed within the 65441 zip code. Compared to the national median property tax rate of 0.99%, Bourbon's property tax landscape highlights a range of financial impacts on homeowners, depending on their property's assessed value.
Average Bourbon Tax Bill
$834
Average Washington County Tax Bill
$361
Average Missouri Tax Bill
$1,606
Average United States Tax Bill
$2,690
Property Tax Bills Across Bourbon, Washington County, Missouri
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 65441 | $153 | $307 | $834 | $1,472 | $1,990 |
Source: Ownwell