Mercer County Property Taxes
The median property tax rate in Mercer County is 1.37%, which is significantly higher than both the national median of 0.99% and the Missouri state median of 1.20%. With the median home value in Mercer County, the typical annual property tax bill is $364, which is considerably lower than the national median of $2,690. Property taxes in Mercer County are calculated based on the tax assessed value, which generally falls below the actual market value due to various property tax exemptions like the primary residence and agricultural exemptions. Understanding Mercer County's specific property tax system, exploring available exemptions, and identifying opportunities for property tax reductions can provide significant annual savings. Whether you live in Princeton or another part of Mercer County, gaining a comprehensive knowledge of local property taxes will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Mercer County 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 Mercer County Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner to estimate their annual property taxes in Mercer County with just 2 data points. Enter your property's estimated assessed value, and our calculator applies the median tax rate in Mercer County to estimate your property tax bill. This insight helps you understand potential tax liabilities. If you’d like to see trends on a city level, scroll down to navigate to a more local informational page. Your property assessed value is the value assigned to your property by your county for property tax calculations. Assessed value takes into account any exemptions you may have on your property.
Property Tax Rates Across Mercer County, Missouri
Property taxes in Mercer County play a crucial role in funding essential local services like public schools, road maintenance, and emergency services. The median tax rate in Mercer County is 1.37%, which is higher than the U.S. national median of 0.99%. Local government entities within Mercer County set these rates annually, and they can vary significantly between different areas within the county. Each year, Mercer County estimates its required budget to maintain services for the upcoming fiscal year and divides this budget by the total value of all taxable property in the jurisdiction, resulting in the property tax rate. Although tax rates and budgets are influenced by laws and voter input, this calculation forms the basic process for setting property tax rates. The following data compares Mercer County's effective property tax rate with other regions and the national median. For comparison, the city of Mercer has one of the higher property tax rates in the region at 1.38%, while the city of Powersville boasts one of the lowest at 0.90%. Analyzing how Mercer County's tax rates stack up against these benchmarks can give homeowners a better understanding of the local tax landscape.
Average Mercer County Tax Rate
1.37%
Average Missouri Tax Rate
1.20%
Average United States Tax Rate
0.99%
Property Tax Rates Across Mercer County, Missouri
| City | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| Cainsville | 0.92% | 0.92% | 1.20% | 1.41% | 1.46% |
| Harris | 0.93% | 0.93% | 1.16% | 1.36% | 1.43% |
| Mercer | 0.89% | 1.13% | 1.38% | 1.39% | 1.39% |
| Newtown | 0.93% | 0.93% | 1.09% | 1.28% | 1.48% |
| Powersville | 0.89% | 0.89% | 0.90% | 1.20% | 1.35% |
| Princeton | N/A | N/A | N/A | N/A | N/A |
| Spickard | 0.92% | 0.93% | 1.15% | 1.28% | 1.44% |
Source: Ownwell
Property Tax Assessment Values Across Mercer County, Missouri
Understanding the difference between "market value" and "assessed value" is key to comprehending property taxes in Mercer County, MO. The market value represents the price a willing buyer would pay to a willing seller in an open, competitive market, considering location, property condition, and current economic trends. For tax purposes, this value is estimated by the Mercer County Appraisal District. The assessed value, however, 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. Assessment notices in Mercer County are typically mailed in the spring, usually by the middle of April. These notices provide homeowners with both the market and assessed values, along with an estimate of the annual property tax bill. By distinguishing between these valuation concepts, property owners can better navigate their tax responsibilities and understand how their property taxes are affected. For example, Powersville has the highest median tax bill at $1,322, while Mercer has the lowest at $453. Being aware of these valuation processes in Mercer County will help you identify opportunities for appealing assessments or applying for exemptions to manage your tax burden more effectively.
Average Mercer County Assessed Value
$30,001
Average Missouri Assessed Value
$129,505
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Mercer County, Missouri
| City | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| Cainsville | $6,911 | $17,252 | $45,594 | $85,478 | $118,624 |
| Harris | $9,655 | $24,970 | $53,363 | $104,126 | $169,853 |
| Mercer | $3,645 | $14,020 | $37,908 | $70,724 | $134,915 |
| Newtown | $15,406 | $30,947 | $52,803 | $103,097 | $927,921 |
| Powersville | $38,188 | $64,912 | $97,878 | $1,088,294 | $1,540,432 |
| Princeton | N/A | N/A | N/A | N/A | N/A |
| Spickard | $15,024 | $25,642 | $46,661 | $87,716 | $123,387 |
Source: Ownwell
Property Tax Bills Across Mercer County, Missouri
In Mercer County, MO, property tax bills are calculated based on the assessed value of a home, which is a percentage of its market value. The local tax rate is then applied to this assessed value to determine the final tax bill. For homeowners, various factors influence their tax bill, including the market value of their property and the specific tax rate set by local authorities. The median home price in Mercer County is $30,001. Homeowners in the 25th percentile face a tax bill of around $97, while those in the 75th percentile see a tax bill of approximately $816. At the 90th percentile, the tax bill can reach up to $1,530. Comparatively, the national median property tax rate is 0.99%, highlighting the variance in tax burdens across different regions. For instance, Powersville has the highest median tax bill at $1,322, whereas Mercer has the lowest at $453. These figures underscore the significant impact property taxes can have on homeowners, influencing their overall financial planning and stability.
Average Mercer County Tax Bill
$364
Average Missouri Tax Bill
$1,606
Average United States Tax Bill
$2,690
Property Tax Bills Across Mercer County, Missouri
| City | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| Cainsville | $75 | $193 | $539 | $1,103 | $1,654 |
| Harris | $121 | $256 | $664 | $1,404 | $2,379 |
| Mercer | $53 | $181 | $453 | $867 | $1,726 |
| Newtown | $185 | $324 | $601 | $1,456 | $8,968 |
| Powersville | $347 | $695 | $1,322 | $9,781 | $13,673 |
| Princeton | N/A | N/A | N/A | N/A | N/A |
| Spickard | $142 | $314 | $574 | $963 | $1,534 |
Source: Ownwell