Caruthersville, Missouri Property Taxes
The median property tax rate in Caruthersville, MO is 1.18%, slightly higher than the national median of 0.99% but just below the Missouri state median of 1.20%. With a median home value of $32,165 in Caruthersville, the typical annual property tax bill is $383, which is significantly lower than the national median of $2,690. Property taxes in Caruthersville are calculated based on the assessed value, which often falls below the market value due to various exemptions, such as those for primary residences and agricultural properties. Understanding Caruthersville'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 Caruthersville 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
Caruthersville, 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 Caruthersville Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Caruthersville with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Caruthersville 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 Caruthersville, Missouri
Property taxes in Caruthersville, Missouri, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Caruthersville is 1.18%, higher than both the Missouri state median and the U.S. national median of 0.99%. Local government entities within Caruthersville set these rates annually, and they can vary significantly across different neighborhoods. Each year, Caruthersville 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 Caruthersville's effective property tax rate to other counties in Missouri and the national median. For comparison, the 63830 zip code has the highest median property tax rate of 1.18%, while the 63830 zip code also has the lowest median tax rate of 1.18%. Understanding how these cities compare with Caruthersville provides valuable insights into the varying tax landscape across Pemiscot County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Caruthersville Tax Rate
1.18%
Average Pemiscot County Tax Rate
1.14%
Average Missouri Tax Rate
1.20%
Average United States Tax Rate
0.99%
Property Tax Rates Across Caruthersville, Missouri
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 63830 | 1.17% | 1.18% | 1.18% | 1.19% | 1.20% |
Source: Ownwell
Property Tax Assessment Values Across Caruthersville, Missouri
In Caruthersville, 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 Pemiscot County Assessor 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 Caruthersville, 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 Caruthersville helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The zip code 63830 has both the highest and lowest median tax bill at $383.
Average Caruthersville Assessed Value
$32,165
Average Pemiscot County Assessed Value
$27,370
Average Missouri Assessed Value
$129,505
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Caruthersville, Missouri
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 63830 | $12,283 | $21,195 | $32,165 | $46,158 | $62,369 |
Source: Ownwell
Property Tax Bills Across Caruthersville, Missouri
Property tax bills in Caruthersville, located in Pemiscot County, Missouri, are calculated based on the assessed value of a property. The assessed value is typically a percentage of the market value of the home. In this region, the median home price stands at $32,165. Once the assessed value is determined, it is multiplied by the local tax rate to calculate the annual tax bill. Factors such as property improvements, neighborhood changes, and local government budgets influence the assessed value and, consequently, the tax bill. Homeowners in Caruthersville can expect their property tax bills to vary. For example, the 25th percentile tax bill is around $269, while the 75th percentile tax bill reaches $543. At the 90th percentile, homeowners might see bills as high as $737. These property taxes fund essential services like public schools, infrastructure, and emergency services, directly impacting the quality of life in the community. Compared to the national median property tax rate of 0.99%, Caruthersville offers a relatively affordable property tax environment for its residents.
Average Caruthersville Tax Bill
$383
Average Pemiscot County Tax Bill
$320
Average Missouri Tax Bill
$1,606
Average United States Tax Bill
$2,690
Property Tax Bills Across Caruthersville, Missouri
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 63830 | $164 | $269 | $383 | $543 | $737 |
Source: Ownwell