Ellington, Missouri Property Taxes
The median property tax rate in Ellington, MO is 0.79%, which is notably lower than both the national median of 0.99% and the Missouri state median of 1.20%. With a median home value of $49,050 in Ellington, the typical annual property tax bill amounts to $348, significantly below the national median of $2,690. Property taxes in Ellington are calculated based on the tax assessed value, which generally falls below the market value due to various exemptions like the primary residence and agricultural exemptions. Understanding Ellington'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 Ellington 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
Ellington, 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 Ellington Property Tax Bill Calculator is a valuable tool for homeowners, real estate investors, or potential buyers to estimate their annual property taxes in Ellington with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Ellington to provide an estimate of your property tax bill. This insightful tool helps you understand potential tax liabilities. For those 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 Ellington, Missouri
Property taxes in Ellington, Missouri, are essential for funding crucial local services such as public schools, road maintenance, and emergency services. The median tax rate in Ellington is 0.79%, which is below the U.S. national median of 0.99%. Local government entities within Ellington set these rates annually, and they can vary significantly across different neighborhoods. Each year, Ellington 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 Ellington's effective property tax rate to other areas in Missouri and the national median. For comparison, the 63638 zip code has the highest median property tax rate of 0.79%, while the same zip code also has the lowest median tax rate of 0.79%. Understanding how these figures compare with Ellington provides valuable insights into the varying tax landscape across Shannon County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Ellington Tax Rate
0.79%
Average Shannon County Tax Rate
0.70%
Average Missouri Tax Rate
1.20%
Average United States Tax Rate
0.99%
Property Tax Rates Across Ellington, Missouri
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 63638 | 0.70% | 0.73% | 0.79% | 0.81% | 0.86% |
Source: Ownwell
Property Tax Assessment Values Across Ellington, Missouri
In Ellington, 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 Shannon 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 Ellington, 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 Ellington helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The highest median tax bill in the area is $348.00 in the 63638 zip code, while the lowest median tax bill is also $348.00 in the same zip code.
Average Ellington Assessed Value
$49,050
Average Shannon County Assessed Value
$46,800
Average Missouri Assessed Value
$129,505
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Ellington, Missouri
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 63638 | $14,380 | $19,450 | $49,050 | $70,150 | $130,260 |
Source: Ownwell
Property Tax Bills Across Ellington, Missouri
In Ellington, MO, property tax bills are calculated based on the assessed value of a home, which is a percentage of its market value. The assessed value is then multiplied by the local tax rate to determine the tax bill. Several factors influence the amount homeowners pay, including the median home price in Ellington, which stands at $49,050. Tax bills can vary significantly, with the 25th percentile at $133 and the 75th percentile reaching $570. For those at the 90th percentile, tax bills can go up to $1,027. This variation in tax bills affects homeowners differently, depending on their property's assessed value and the specific tax rate applied. Comparatively, the national median property tax rate is 0.99%, highlighting how localized rates can impact overall costs. Homeowners in Ellington must consider these factors when budgeting for annual expenses, as property taxes represent a significant portion of homeownership costs.
Average Ellington Tax Bill
$348
Average Shannon County Tax Bill
$320
Average Missouri Tax Bill
$1,606
Average United States Tax Bill
$2,690
Property Tax Bills Across Ellington, Missouri
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 63638 | $97 | $133 | $348 | $570 | $1,027 |
Source: Ownwell