Overland, Missouri Property Taxes
The median property tax rate in Overland, MO is 1.59%, considerably higher than both the national median of 0.99% and the Missouri state median of 1.20%. With the median home value in Overland, the typical annual property tax bill reaches $2,273, slightly below the national median of $2,690. Property taxes in Overland 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 Overland'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 Overland 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
Overland, Missouri Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.59%
Estimate Property Tax Bill
$2,278
Ownwell’s Overland Property Tax Bill Calculator assists homeowners, real estate investors, and potential buyers in estimating their annual property taxes in Overland with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Overland 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 Overland, Missouri
Property taxes in Overland, Missouri, play a crucial role in funding essential local services, including public schools, road maintenance, and emergency services. The median tax rate in Overland stands at 1.59%, which is higher than the U.S. national median of 0.99%. Local government entities within Overland set these rates annually, and they can vary significantly across different neighborhoods. Each year, Overland 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 Overland's effective property tax rate to other counties in Missouri and the national median. For comparison, the zip code 63114 has the highest median property tax rate of 1.59%, while the lowest median tax rate is also 1.59% in the same zip code. Understanding how these cities compare with Overland provides valuable insights into the varying tax landscape across St. Louis County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Overland Tax Rate
1.59%
Average St. Louis County Tax Rate
1.35%
Average Missouri Tax Rate
1.20%
Average United States Tax Rate
0.99%
Property Tax Rates Across Overland, Missouri
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 63114 | 1.58% | 1.58% | 1.59% | 1.59% | 1.59% |
Source: Ownwell
Property Tax Assessment Values Across Overland, Missouri
In Overland, 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. Louis 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 Overland, 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 Overland helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. Notably, the zip code 63114 has the highest and lowest median tax bill, both at $2,273, showcasing the uniformity in tax assessments within the area.
Average Overland Assessed Value
$143,300
Average St. Louis County Assessed Value
$226,500
Average Missouri Assessed Value
$129,505
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Overland, Missouri
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 63114 | $112,820 | $124,250 | $143,300 | $162,350 | $173,780 |
Source: Ownwell
Property Tax Bills Across Overland, Missouri
In Overland, located in St. Louis County, MO, property tax bills are calculated based on the assessed value of a home, which is determined by the county assessor. This assessed value is a percentage of the property's market value. For homeowners, the assessed value is then multiplied by the local tax rate to determine the annual property tax bill. Several factors influence the property tax bill, including the market value of the property, the assessment ratio, and the local tax rate. For instance, in Overland, the median home price is $143,300. Homeowners in the 25th percentile can expect a tax bill around $1,975, while those in the 75th percentile may see a bill closer to $2,571. The highest median tax bill in the area is recorded at $2,273 in the 63114 zip code. Compared to the national median property tax rate of 0.99%, the property tax bills in Overland can have a significant impact on homeowners' financial planning and budgeting. Understanding these factors can help homeowners anticipate their annual property tax obligations more accurately.
Average Overland Tax Bill
$2,273
Average St. Louis County Tax Bill
$3,143
Average Missouri Tax Bill
$1,606
Average United States Tax Bill
$2,690
Property Tax Bills Across Overland, Missouri
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 63114 | $1,796 | $1,975 | $2,273 | $2,571 | $2,750 |
Source: Ownwell