Drexel, Missouri Property Taxes
The median property tax rate in Drexel, MO is 1.33%, considerably higher than both the national median of 0.99% and the Missouri state median of 1.20%. With the median home value in Drexel at $106,260, the typical annual property tax bill reaches $1,359, exceeding the national median of $2,690. Property taxes in Drexel are calculated based on the tax assessed value, which typically falls below the market value due to various exemptions like the primary residence and agricultural exemptions. Understanding Drexel'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 Drexel 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
Drexel, 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 Drexel Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Drexel with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Drexel 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 Drexel, Missouri
Property taxes in Drexel, Missouri, are essential for funding crucial local services such as public schools, road maintenance, and emergency services. The median tax rate in Drexel is 1.33%, which is higher than the U.S. national median of 0.99%. Local government entities within Drexel set these rates annually, and they can vary significantly across different neighborhoods. Each year, Drexel 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 Drexel's effective property tax rate to other areas in Missouri and the national median. For comparison, the zip code 64742 has both the highest and lowest median property tax rate of 1.33%. Understanding how these areas compare with Drexel provides valuable insights into the varying tax landscape across Cass County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Drexel Tax Rate
1.33%
Average Cass County Tax Rate
1.46%
Average Missouri Tax Rate
1.20%
Average United States Tax Rate
0.99%
Property Tax Rates Across Drexel, Missouri
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 64742 | 1.13% | 1.21% | 1.33% | 1.33% | 1.33% |
Source: Ownwell
Property Tax Assessment Values Across Drexel, Missouri
Understanding the difference between "market value" and "assessed value" is crucial for comprehending property taxes in Drexel, 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 Cass 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 Drexel, 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 Drexel helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The median home price in Drexel is $106,260, with the 25th percentile tax bill at $925 and the 75th percentile tax bill at $1,972. The highest and lowest median tax bills are both in the zip code 64742, standing at $1,359.
Average Drexel Assessed Value
$106,260
Average Cass County Assessed Value
$149,060
Average Missouri Assessed Value
$129,505
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Drexel, Missouri
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 64742 | $45,762 | $70,255 | $106,260 | $157,405 | $222,836 |
Source: Ownwell
Property Tax Bills Across Drexel, Missouri
In Drexel, located in Cass County, MO, property tax bills are calculated based on the assessed value of a home, which is determined by the county assessor. The assessed value is a percentage of the home's market value. Homeowners in Drexel typically see a range of tax bills depending on their property's assessed value. For instance, the tax bill at the 25th percentile is around $925, while at the 75th percentile, it rises to approximately $1972. At the 90th percentile, homeowners can expect to pay up to $2808 in property taxes. Several factors influence the final tax bill, including the property's location, improvements, and market conditions. The median home price in Drexel is about $106,260, and the property tax rate is in line with county assessments. This means that homeowners with higher-valued properties will pay more in taxes. Comparing this to the national median property tax rate of 0.99%, Drexel's property tax bills reflect local economic conditions and funding needs for public services.
Average Drexel Tax Bill
$1,359
Average Cass County Tax Bill
$2,217
Average Missouri Tax Bill
$1,606
Average United States Tax Bill
$2,690
Property Tax Bills Across Drexel, Missouri
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 64742 | $603 | $925 | $1,359 | $1,972 | $2,808 |
Source: Ownwell