Altenburg, Missouri Property Taxes
The median property tax rate in Altenburg, MO is 0.87%, which is notably lower than both the national median of 0.99% and the Missouri state median of 1.20%. With a median home value of $134,234 in Altenburg, the typical annual property tax bill amounts to $1,163, significantly below the national median of $2,690. Property taxes in Altenburg are calculated based on the tax assessed value, which is often lower than the market value due to various exemptions, such as those for primary residences and agricultural properties. Understanding Altenburg's property tax system, exploring available exemptions, and identifying opportunities for reductions can lead to substantial annual savings. Whether you reside in the heart of Altenburg or another part of Cape Girardeau County, gaining insight into the local property tax system can benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Altenburg, Missouri Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.87%
Estimate Property Tax Bill
$1,168
Ownwell’s Altenburg Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Altenburg with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Altenburg 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 Altenburg, Missouri
Property taxes in Altenburg, Missouri, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Altenburg is 0.87%, which is lower than the U.S. national median of 0.99%. Local government entities within Altenburg set these rates annually, and they can vary significantly across different neighborhoods. Each year, Altenburg 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 Altenburg's effective property tax rate to other counties in Missouri and the national median. For comparison, the zip code 63732 has the highest median property tax rate of 0.87%, while the same zip code also has the lowest median tax rate of 0.87%. Understanding how these cities compare with Altenburg provides valuable insights into the varying tax landscape across Cape Girardeau County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Altenburg Tax Rate
0.87%
Average Cape Girardeau County Tax Rate
0.97%
Average Missouri Tax Rate
1.20%
Average United States Tax Rate
0.99%
Property Tax Rates Across Altenburg, Missouri
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 63732 | 0.72% | 0.83% | 0.87% | 0.95% | 0.95% |
Source: Ownwell
Property Tax Assessment Values Across Altenburg, Missouri
Understanding the difference between "market value" and "assessed value" is crucial for comprehending property taxes in Altenburg, 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 Cape Girardeau 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 Altenburg, 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. For example, the median home price in Altenburg is $134,234, with tax bills ranging from $635 at the 25th percentile to $2,131 at the 90th percentile. 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 Altenburg helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Altenburg Assessed Value
$134,234
Average Cape Girardeau County Assessed Value
$116,512
Average Missouri Assessed Value
$129,505
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Altenburg, Missouri
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 63732 | $39,928 | $71,720 | $134,234 | $194,498 | $227,981 |
Source: Ownwell
Property Tax Bills Across Altenburg, Missouri
In Altenburg, located in Cape Girardeau County, MO, property tax bills are calculated based on the assessed value of the property, which is a percentage of the market value. The local tax rate is then applied to this assessed value to determine the tax bill. For example, if a home has a median market value of $134,234, the assessed value is typically a fraction of this amount as determined by state law. The tax bill can vary significantly depending on several factors, including property location, local tax rates, and any applicable exemptions. In Altenburg, the 25th percentile of tax bills is around $635, while the 75th percentile reaches $1714, and the 90th percentile can go up to $2131. These variations illustrate how property taxes can impact homeowners differently, depending on the assessed value of their homes and the specific rates applied. Comparatively, the national median property tax rate stands at 0.99%, and understanding these local nuances can help homeowners better anticipate their financial obligations and plan accordingly.
Average Altenburg Tax Bill
$1,163
Average Cape Girardeau County Tax Bill
$1,109
Average Missouri Tax Bill
$1,606
Average United States Tax Bill
$2,690
Property Tax Bills Across Altenburg, Missouri
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 63732 | $368 | $635 | $1,163 | $1,714 | $2,131 |
Source: Ownwell