Portageville, Missouri Property Taxes
The median property tax rate in Portageville, MO is 0.94%, slightly below both the national median of 0.99% and the Missouri state median of 1.20%. With a median home value in Portageville of $25,340, the typical annual property tax bill is $240, significantly lower than the national median of $2,690. Property taxes in Portageville 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 Portageville'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 Portageville 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
Portageville, 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 Portageville Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Portageville with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Portageville 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 Portageville, Missouri
Property taxes in Portageville, Missouri, are vital in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Portageville is 0.94%, slightly below the U.S. national median of 0.99%. Local government entities within Portageville set these rates annually, and they can vary significantly across different neighborhoods. Each year, Portageville 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 Portageville's effective property tax rate to other counties in Missouri and the national median. For comparison, the 63873 zip code has the highest median property tax rate of 0.94%, while the 63873 zip code also has the lowest median tax rate of 0.94%. Understanding how these cities compare with Portageville 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 Portageville Tax Rate
0.94%
Average Pemiscot County Tax Rate
1.14%
Average Missouri Tax Rate
1.20%
Average United States Tax Rate
0.99%
Property Tax Rates Across Portageville, Missouri
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 63873 | 0.83% | 0.94% | 0.94% | 0.96% | 1.00% |
Source: Ownwell
Property Tax Assessment Values Across Portageville, Missouri
In Portageville, 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. 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 Portageville helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. In Portageville, the zip code with both the highest and lowest median tax bill is 63873, with a median tax bill of $240.
Average Portageville Assessed Value
$25,340
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 Portageville, Missouri
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 63873 | $8,492 | $13,690 | $25,340 | $51,140 | $172,110 |
Source: Ownwell
Property Tax Bills Across Portageville, Missouri
In Portageville, located in Pemiscot County, MO, property tax bills are primarily determined by the assessed value of a property, which is calculated as a percentage of its market value. The median home price in Portageville is $25,340. To determine the tax bill, this assessed value is multiplied by the local tax rate. Factors such as property improvements, neighborhood changes, and local government budgets can influence the assessed value and tax rate, thus affecting the final tax bill. For homeowners in Portageville, the property tax burden varies significantly. The 25th percentile tax bill is $133, while the 75th percentile tax bill is $479. At the higher end, the 90th percentile tax bill reaches $1,651. These figures indicate a range of tax liabilities, reflecting differences in property values and assessed rates within the area. Understanding these factors is crucial for homeowners as property taxes can impact their overall financial planning and homeownership costs.
Average Portageville Tax Bill
$240
Average Pemiscot County Tax Bill
$320
Average Missouri Tax Bill
$1,606
Average United States Tax Bill
$2,690
Property Tax Bills Across Portageville, Missouri
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 63873 | $82 | $133 | $240 | $479 | $1,651 |
Source: Ownwell