Chesterfield, Missouri Property Taxes
The median property tax rate in Chesterfield, MO is 0.93%, which is lower than both the national median of 0.99% and Missouri's state median of 1.20%. With a median home value of $102,700 in Chesterfield, the typical annual property tax bill is $917, significantly below the national median of $2,690. Property taxes in Chesterfield are calculated based on the assessed value, which generally falls below the market value due to various exemptions like the primary residence and agricultural exemptions. Understanding Chesterfield'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 Chesterfield 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
Chesterfield, Missouri Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.93%
Estimate Property Tax Bill
$955
Ownwell’s Chesterfield Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Chesterfield with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Chesterfield 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 Chesterfield, Missouri
Property taxes in Chesterfield, Missouri, are essential for funding local services such as public schools, road maintenance, and emergency services. The median tax rate in Chesterfield is 0.93%, slightly lower than the U.S. national median of 0.99%. Local government entities within Chesterfield set these rates annually, and they can vary significantly across different neighborhoods. Each year, Chesterfield 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 Chesterfield's effective property tax rate to other counties in Missouri and the national median. For comparison, the 63017 zip code has both the highest and lowest median property tax rate of 0.93%. Understanding how these areas compare with Chesterfield provides valuable insights into the varying tax landscape across St. Louis County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Chesterfield Tax Rate
0.93%
Average Morgan County Tax Rate
0.87%
Average Missouri Tax Rate
1.20%
Average United States Tax Rate
0.99%
Property Tax Rates Across Chesterfield, Missouri
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 63017 | 0.83% | 0.85% | 0.93% | 0.96% | 0.99% |
Source: Ownwell
Property Tax Assessment Values Across Chesterfield, Missouri
In Chesterfield, 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 county’s 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 Chesterfield, 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 Chesterfield helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The highest median tax bill is $917.00 in the zip code 63017, while the lowest median tax bill is also $917.00 in the same zip code.
Average Chesterfield Assessed Value
$102,700
Average Morgan County Assessed Value
$49,350
Average Missouri Assessed Value
$129,505
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Chesterfield, Missouri
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 63017 | $11,260 | $12,900 | $102,700 | $185,200 | $205,920 |
Source: Ownwell
Property Tax Bills Across Chesterfield, Missouri
In Chesterfield, located in Morgan County, MO, property tax bills are calculated based on the assessed value of a home, which is determined by the local tax assessor. The assessed value is a percentage of the market value of the property, and in Missouri, this percentage is typically 19% for residential properties. This assessed value is then multiplied by the local tax rate to determine the annual property tax bill. Several factors influence the assessed value, including the property's location, size, and condition. For example, the median home price in Chesterfield is $102,700. Tax bills in this area vary widely, with the 25th percentile at $107 and the 75th percentile at $1,657, illustrating the range of property values and corresponding tax obligations. For homeowners, understanding these factors is crucial as property taxes can significantly impact annual expenses. Comparing Chesterfield's median property tax rate to the national median of 0.99% helps put these figures into perspective, highlighting the importance of accurate property assessments and efficient tax management.
Average Chesterfield Tax Bill
$917
Average Morgan County Tax Bill
$420
Average Missouri Tax Bill
$1,606
Average United States Tax Bill
$2,690
Property Tax Bills Across Chesterfield, Missouri
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 63017 | $95 | $107 | $917 | $1,657 | $1,990 |
Source: Ownwell