Tecumseh, Missouri Property Taxes
The median property tax rate in Tecumseh, Missouri is 0.66%, considerably lower than both the national median of 0.99% and the Missouri state median of 1.20%. With the median home value in Tecumseh at $66,950, the typical annual property tax bill reaches $452, significantly below the national median of $2,690. Property taxes in Tecumseh 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 Tecumseh'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 Tecumseh 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
Tecumseh, Missouri Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.66%
Estimate Property Tax Bill
$442
Ownwell’s Tecumseh Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Tecumseh with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Tecumseh 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 Tecumseh, Missouri
Property taxes in Tecumseh, Missouri, are crucial for funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Tecumseh is 0.66%, lower than the U.S. national median of 0.99%. Local government entities within Tecumseh set these rates annually, and they can vary across different neighborhoods. Each year, Tecumseh 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 Tecumseh's effective property tax rate to other counties in Missouri and the national median. For comparison, the 65760 zip code has both the highest and lowest median property tax rate of 0.66%. Understanding how these cities compare with Tecumseh provides valuable insights into the varying tax landscape across Ozark County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Tecumseh Tax Rate
0.66%
Average Ozark County Tax Rate
0.74%
Average Missouri Tax Rate
1.20%
Average United States Tax Rate
0.99%
Property Tax Rates Across Tecumseh, Missouri
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 65760 | 0.63% | 0.65% | 0.66% | 0.74% | 0.81% |
Source: Ownwell
Property Tax Assessment Values Across Tecumseh, Missouri
Understanding the difference between "market value" and "assessed value" is crucial for comprehending property taxes in Tecumseh, 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 Ozark 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 Tecumseh, 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. The median home price in Tecumseh is $66,950, with tax bills ranging from $226 at the 25th percentile to $996 at the 90th percentile. The zip code with both the highest and lowest median tax bill is 65760, with a median tax bill of $452. Being aware of these valuation processes helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Tecumseh Assessed Value
$66,950
Average Ozark County Assessed Value
$64,800
Average Missouri Assessed Value
$129,505
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Tecumseh, Missouri
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 65760 | $21,830 | $32,650 | $66,950 | $100,275 | $141,310 |
Source: Ownwell
Property Tax Bills Across Tecumseh, Missouri
In Tecumseh, located in Ozark County, MO, property tax bills are calculated based on the assessed value of your home and the local tax rate. The assessed value is typically a percentage of the market value of the property. Once the assessed value is determined, the local tax rate is applied to calculate the annual property tax bill. Factors such as the property's location, size, and any improvements can influence the assessed value. For homeowners in Tecumseh, the median home price stands at $66,950. Property tax bills can vary significantly, with the 25th percentile at $226 and the 75th percentile at $747, while the 90th percentile reaches $996. Comparatively, the national median property tax rate is 0.99%, making Tecumseh's property tax landscape relatively more affordable for homeowners. Understanding these factors helps homeowners anticipate their annual tax obligations and manage their finances more effectively.
Average Tecumseh Tax Bill
$452
Average Ozark County Tax Bill
$481
Average Missouri Tax Bill
$1,606
Average United States Tax Bill
$2,690
Property Tax Bills Across Tecumseh, Missouri
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 65760 | $144 | $226 | $452 | $747 | $996 |
Source: Ownwell