Bernie, Missouri Property Taxes
The median property tax rate in Bernie, MO is 0.71%, significantly lower than both the national median of 0.99% and the Missouri state median of 1.20%. With the median home value in Bernie at $204,550, the typical annual property tax bill reaches $1,361, well below the national median of $2,690. Property taxes in Bernie are calculated based on the tax assessed value, which usually falls below the market value due to various exemptions like the primary residence and agricultural exemptions. Understanding Bernie’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 Bernie or another part of New Madrid County, understanding the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Bernie, 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 Bernie Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Bernie with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Bernie 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 Bernie, Missouri
Property taxes in Bernie, Missouri, are vital in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Bernie is 0.71%, lower than both the Missouri state median of 0.97% and the U.S. national median of 0.99%. Local government entities within Bernie set these rates annually, and they can vary significantly across different neighborhoods. Each year, Bernie 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 Bernie's effective property tax rate to other counties in Missouri and the national median. For comparison, the 63822 zip code has both the highest and lowest median property tax rate of 0.71%. Understanding how these cities compare with Bernie provides valuable insights into the varying tax landscape across New Madrid County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Bernie Tax Rate
0.71%
Average New Madrid County Tax Rate
0.94%
Average Missouri Tax Rate
1.20%
Average United States Tax Rate
0.99%
Property Tax Rates Across Bernie, Missouri
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 63822 | 0.65% | 0.67% | 0.71% | 0.75% | 0.78% |
Source: Ownwell
Property Tax Assessment Values Across Bernie, Missouri
In Bernie, 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 New Madrid 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 Bernie, 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 Bernie helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The zip code with the highest median tax bill is 63822, with a tax bill of $1,361.
Average Bernie Assessed Value
$204,550
Average New Madrid County Assessed Value
$54,200
Average Missouri Assessed Value
$129,505
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Bernie, Missouri
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 63822 | $107,390 | $143,825 | $204,550 | $265,275 | $301,710 |
Source: Ownwell
Property Tax Bills Across Bernie, Missouri
In Bernie, located in New Madrid County, MO, property tax bills are calculated based on the assessed value of a home, which is a percentage of its market value. Homeowners in Bernie typically see tax bills that vary according to the assessed value of their property and the local tax rate. The median home price in Bernie is $204,550, with property tax bills ranging from the 25th percentile at $1,009 to the 75th percentile at $1,714. For those in the 90th percentile, tax bills can reach up to $1,925. These tax bills are influenced by several factors, including the home's market value, local tax rates, and any applicable exemptions. Compared to the national median property tax rate of 0.99%, Bernie's tax rates are relatively moderate, offering some relief to homeowners. However, the financial impact can still be significant, especially for those with higher-valued properties. Understanding these factors can help homeowners better anticipate and manage their property tax obligations.
Average Bernie Tax Bill
$1,361
Average New Madrid County Tax Bill
$513
Average Missouri Tax Bill
$1,606
Average United States Tax Bill
$2,690
Property Tax Bills Across Bernie, Missouri
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 63822 | $798 | $1,009 | $1,361 | $1,714 | $1,925 |
Source: Ownwell