Steele, Missouri Property Taxes
The median property tax rate in Steele, MO is 0.79%, 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 $26,460 in Steele, the typical annual property tax bill amounts to $155, significantly less than the national median of $2,690. Property taxes in Steele are determined based on the tax assessed value, which often falls below the market value due to various exemptions such as primary residence and agricultural exemptions. Understanding Steele'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 Steele or another part of the city, grasping the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Steele, Missouri Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.79%
Estimate Property Tax Bill
$209
Ownwell’s Steele Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Steele with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Steele 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 Steele, Missouri
Property taxes in Steele, Missouri, are essential in funding critical local services such as public schools, road maintenance, and emergency services. The median tax rate in Steele is 0.79%, which is lower than both the Missouri state median and the U.S. national median of 0.99%. Local government entities within Steele set these rates annually, and they can vary significantly across different neighborhoods. Each year, Steele 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 Steele's effective property tax rate to other counties in Missouri and the national median. For comparison, the 63877 zip code has the highest median property tax rate of 0.79%, while the same zip code also has the lowest median tax rate of 0.79%. Understanding how these cities compare with Steele provides valuable insights into the varying tax landscape across Dunklin County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Steele Tax Rate
0.79%
Average Dunklin County Tax Rate
0.91%
Average Missouri Tax Rate
1.20%
Average United States Tax Rate
0.99%
Property Tax Rates Across Steele, Missouri
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 63877 | 0.58% | 0.61% | 0.79% | 0.90% | 1.23% |
Source: Ownwell
Property Tax Assessment Values Across Steele, Missouri
Understanding the difference between "market value" and "assessed value" is crucial for comprehending property taxes in Steele, 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 local 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 Steele, 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 Steele helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. For instance, the highest and lowest median tax bills in Steele's zip code 63877 are both $155, which is significantly lower than the national median property tax rate of 0.99%.
Average Steele Assessed Value
$26,460
Average Dunklin County Assessed Value
$33,875
Average Missouri Assessed Value
$129,505
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Steele, Missouri
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 63877 | $3,980 | $8,240 | $26,460 | $86,265 | $121,000 |
Source: Ownwell
Property Tax Bills Across Steele, Missouri
In Steele, located in Dunklin County, MO, property tax bills are calculated based on the assessed value of a home, which is typically a percentage of its market value. For instance, the median home price in Steele is $26,460. Property taxes here are relatively low compared to the national median property tax rate of 0.99%. Factors influencing the tax bill include the property's assessed value, local tax rates, and any applicable exemptions. Homeowners in Steele experience a range of property tax bills. At the 25th percentile, the tax bill is around $84, while at the 75th percentile, it rises to $416. For those in the 90th percentile, the tax bill can reach up to $769. The highest median tax bill in Steele is $155, which is consistent across the zip code 63877. These tax bills can significantly impact homeowners by affecting their monthly housing costs and overall financial planning. Lower property taxes can be a relief for homeowners, making Steele an attractive location for those seeking affordable housing.
Average Steele Tax Bill
$155
Average Dunklin County Tax Bill
$320
Average Missouri Tax Bill
$1,606
Average United States Tax Bill
$2,690
Property Tax Bills Across Steele, Missouri
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 63877 | $36 | $84 | $155 | $416 | $769 |
Source: Ownwell