De Soto, Missouri Property Taxes
The median property tax rate in De Soto, MO is 1.02%, slightly above the national median of 0.99% but lower than the Missouri state median of 1.20%. With the median home value in De Soto at $87,310, the typical annual property tax bill amounts to $877, which is well below the national median of $2,690. Property taxes in De Soto are assessed based on the tax assessed value, which is often lower than the market value due to exemptions such as those for primary residences and agricultural properties. Gaining a thorough understanding of De Soto'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 De Soto 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
De Soto, Missouri Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.02%
Estimate Property Tax Bill
$891
Ownwell’s DE SOTO Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in DE SOTO with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in DE SOTO 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 De Soto, Missouri
Property taxes in De Soto, Missouri, are vital in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in De Soto is 1.02%, higher than both the Missouri state median and the U.S. national median of 0.99%. Local government entities within De Soto set these rates annually, and they can vary significantly across different neighborhoods. Each year, De Soto 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 De Soto's effective property tax rate to other counties in Missouri and the national median. For comparison, the 63020 zip code has the highest median property tax rate of 1.02%, while the same zip code also has the lowest median tax rate of 1.02%. Understanding how these cities compare with De Soto provides valuable insights into the varying tax landscape across St. Francois County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average De Soto Tax Rate
1.02%
Average St. Francois County Tax Rate
1.00%
Average Missouri Tax Rate
1.20%
Average United States Tax Rate
0.99%
Property Tax Rates Across De Soto, Missouri
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 63020 | 0.98% | 1.01% | 1.02% | 1.03% | 1.03% |
Source: Ownwell
Property Tax Assessment Values Across De Soto, Missouri
In De Soto, 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 St. Francois County Assessor's Office 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 De Soto, 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 De Soto helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The median home price in De Soto is $87,310. The median tax bill ranges from $525 at the 25th percentile to $1,777 at the 75th percentile, and $1,997 at the 90th percentile. The zip code with the highest and lowest median tax bill is 63020, with a median tax bill of $877.
Average De Soto Assessed Value
$87,310
Average St. Francois County Assessed Value
$72,730
Average Missouri Assessed Value
$129,505
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across De Soto, Missouri
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 63020 | $38,140 | $51,250 | $87,310 | $177,395 | $194,870 |
Source: Ownwell
Property Tax Bills Across De Soto, Missouri
In DE SOTO, MO, property tax bills are calculated based on the assessed value of a home, which is determined by the local assessor's office. The assessed value is a percentage of the market value of the property. For homeowners in DE SOTO, the median home price is $87,310, which serves as a basis for calculating property taxes. The tax rate is then applied to this assessed value to determine the annual tax bill. Factors such as local tax rates, property characteristics, and any applicable exemptions or deductions influence the final tax amount. For example, in St. Francois County, where DE SOTO is located, the tax bill can range significantly. At the 25th percentile, homeowners might pay around $525, while those at the 75th percentile could see bills as high as $1,777. The highest median tax bill in the area is $877, which is still below the national median property tax rate of 0.99%. This variability in tax bills affects homeowners by influencing their overall housing costs and financial planning.
Average De Soto Tax Bill
$877
Average St. Francois County Tax Bill
$732
Average Missouri Tax Bill
$1,606
Average United States Tax Bill
$2,690
Property Tax Bills Across De Soto, Missouri
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 63020 | $392 | $525 | $877 | $1,777 | $1,997 |
Source: Ownwell