Valley Park, Missouri Property Taxes
The median property tax rate in Valley Park, MO is 1.57%, considerably higher than both the national median of 0.99% and the Missouri state median of 1.20%. With the median home value in Valley Park at $223,750, the typical annual property tax bill reaches $3,535, exceeding the national median of $2,690. Property taxes in Valley Park 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 Valley Park'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 Valley Park 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
Valley Park, Missouri Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.57%
Estimate Property Tax Bill
$3,513
Ownwell’s Valley Park Property Tax Bill Calculator assists homeowners, real estate investors, and potential buyers in estimating their annual property taxes in Valley Park with just two simple data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Valley Park to provide an estimate of your property tax bill. This valuable tool offers clarity on potential tax liabilities. For those interested in more detailed trends at the neighborhood level, additional localized information is available below. Your property’s assessed value, determined by St. Louis County, is used for property tax calculations and takes into account any applicable exemptions.
Property Tax Rates Across Valley Park, Missouri
Property taxes in Valley Park, Missouri, are essential for funding crucial local services such as public schools, road maintenance, and emergency services. The median tax rate in Valley Park is 1.57%, significantly higher than the U.S. national median of 0.99%. Local government entities within Valley Park set these rates annually, and they can vary significantly across different neighborhoods. Each year, Valley Park 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 Valley Park's effective property tax rate to other areas and the national median. For comparison, the 63088 zip code has the highest median property tax rate of 1.57%, while the same zip code also has the lowest median tax rate of 1.57%. Understanding how these figures compare with Valley Park 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 Valley Park Tax Rate
1.57%
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 Valley Park, Missouri
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 63088 | 1.42% | 1.57% | 1.57% | 1.58% | 1.59% |
Source: Ownwell
Property Tax Assessment Values Across Valley Park, Missouri
In Valley Park, 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 Valley Park, 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 Valley Park helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The zip code with the highest and lowest median tax bill is 63088, both at $3,535.
Average Valley Park Assessed Value
$223,750
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 Valley Park, Missouri
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 63088 | $129,500 | $159,700 | $223,750 | $276,500 | $345,000 |
Source: Ownwell
Property Tax Bills Across Valley Park, Missouri
In Valley Park, St. Louis County, MO, property tax bills are calculated based on the assessed value of a home, which is determined by the county assessor. The assessed value is a percentage of the property's market value. Once the assessed value is established, local tax rates, also known as mill rates, are applied. These rates can vary depending on the specific needs of the community, such as funding for schools, infrastructure, and other public services. For homeowners in Valley Park, the median home price is $223,750. Property tax bills can vary significantly, with the 25th percentile paying around $2,528 and the 75th percentile facing bills up to $4,336. The highest median tax bill in the area is approximately $3,535. These taxes can have a substantial impact on homeowners, influencing both monthly mortgage payments and the overall cost of owning a home. Compared to the national median property tax rate of 0.99%, the rates in Valley Park can be seen as a critical factor for potential buyers and current residents.
Average Valley Park Tax Bill
$3,535
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 Valley Park, Missouri
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 63088 | $2,039 | $2,528 | $3,535 | $4,336 | $5,065 |
Source: Ownwell