Millersville, Missouri Property Taxes
The median property tax rate in Millersville, MO is 0.88%, which is lower than both the national median of 0.99% and the Missouri state median of 1.20%. With a median home value of $96,895 in Millersville, the typical annual property tax bill amounts to $828, well below the national median of $2,690. Property taxes in Millersville are calculated based on the tax assessed value, which often falls below the market value due to various exemptions like the primary residence and agricultural exemptions. Understanding Millersville's property tax system, exploring available exemptions, and identifying opportunities for reductions can lead to significant annual savings. Whether you're in the heart of Millersville 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
Millersville, Missouri Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.88%
Estimate Property Tax Bill
$853
Ownwell’s Millersville Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Millersville with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Millersville 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 Millersville, Missouri
Property taxes in Millersville, Missouri, are essential for funding key local services such as public schools, road maintenance, and emergency services. The median tax rate in Millersville is 0.88%, which is lower than the U.S. national median of 0.99%. Local government entities within Millersville set these rates annually, and they can vary significantly across different neighborhoods. Each year, Millersville 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 Millersville's effective property tax rate to other areas in Missouri and the national median. For comparison, the zip code 63766 has both the highest and lowest median property tax rate of 0.88%. Understanding how these areas compare with Millersville 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 Millersville Tax Rate
0.88%
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 Millersville, Missouri
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 63766 | 0.76% | 0.84% | 0.88% | 0.88% | 0.88% |
Source: Ownwell
Property Tax Assessment Values Across Millersville, Missouri
In Millersville, 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 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 Millersville, 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 Millersville helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The highest median tax bill in the area is $828 in the 63766 zip code, while the lowest is also $828 in the same zip code.
Average Millersville Assessed Value
$96,895
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 Millersville, Missouri
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 63766 | $38,094 | $62,124 | $96,895 | $146,576 | $192,468 |
Source: Ownwell
Property Tax Bills Across Millersville, Missouri
In Millersville, property tax bills are calculated based on the assessed value of the property and the local tax rate set by Cape Girardeau County. The assessed value is a percentage of the property's market value, determined by local assessors. Homeowners in Millersville can expect their tax bills to vary significantly depending on the value of their property. For instance, the 25th percentile tax bill is around $517, while the 75th percentile tax bill reaches approximately $1,259. At the higher end, the 90th percentile tax bill can go up to $1,672. These figures highlight the range of property tax obligations homeowners might face. Compared to the national median property tax rate of 0.99%, Millersville's property tax landscape offers a diverse range of tax bills, reflecting the varying property values within the area. Homeowners should be aware of these factors as they can significantly impact annual financial planning and overall property affordability.
Average Millersville Tax Bill
$828
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 Millersville, Missouri
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 63766 | $329 | $517 | $828 | $1,259 | $1,672 |
Source: Ownwell