Merriam Woods Village, Missouri Property Taxes
The median property tax rate in Merriam Woods Village, MO is 1.14%, slightly higher than the national median of 0.99% but lower than the Missouri state median of 1.20%. With the median home value in Merriam Woods Village, the typical annual property tax bill is $42, which is significantly below the national median of $2,690. Property taxes in Merriam Woods Village are calculated based on the tax assessed value, often lower than the market value due to exemptions such as those for primary residences and agricultural properties. Understanding Merriam Woods Village's property tax system, exploring available exemptions, and identifying opportunities for reductions can lead to substantial annual savings. Whether you're in the heart of Merriam Woods Village 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
Merriam Woods Village, Missouri Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.14%
Estimate Property Tax Bill
$43
Ownwell’s Merriam Woods Village Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Merriam Woods Village with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Merriam Woods Village 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 Merriam Woods Village, Missouri
Property taxes in Merriam Woods Village, Missouri, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Merriam Woods Village is 1.14%, which is higher than the U.S. national median of 0.99%. Local government entities within Merriam Woods Village set these rates annually, and they can vary significantly across different neighborhoods. Each year, Merriam Woods Village 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 Merriam Woods Village's effective property tax rate to other areas in Missouri and the national median. For comparison, the zip code 65740 has both the highest and lowest median property tax rate of 1.14%. Understanding how these figures compare with Merriam Woods Village provides valuable insights into the varying tax landscape across Taney County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Merriam Woods Village Tax Rate
1.14%
Average Taney County Tax Rate
0.97%
Average Missouri Tax Rate
1.20%
Average United States Tax Rate
0.99%
Property Tax Rates Across Merriam Woods Village, Missouri
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 65740 | 1.14% | 1.14% | 1.14% | 1.14% | 1.15% |
Source: Ownwell
Property Tax Assessment Values Across Merriam Woods Village, Missouri
In Merriam Woods Village, 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 Taney 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 Merriam Woods Village, 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 Merriam Woods Village helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The median home price in this area is $3,736, with tax bills ranging from $27 at the 25th percentile to $838 at the 90th percentile.
Property Tax Assessment Values Across Merriam Woods Village, Missouri
Source: Ownwell
$3,708
$248,812
$493,916
Average Merriam Woods Village Assessed Value
$3,736
Average Taney County Assessed Value
$44,055
Average Missouri Assessed Value
$129,505
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Merriam Woods Village, Missouri
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 65740 | $1,421 | $2,452 | $3,736 | $22,420 | $74,196 |
Source: Ownwell
Property Tax Bills Across Merriam Woods Village, Missouri
In Merriam Woods Village, located in Taney County, MO, property tax bills are calculated based on the assessed value of your home. The assessed value is determined by the local assessor's office and reflects a percentage of the market value of the property. The median home price in Merriam Woods Village is $3,736. Homeowners in this area typically see a wide range of property tax bills. For example, those at the 25th percentile pay around $27, while those at the 75th percentile pay approximately $255. The highest tax bills, at the 90th percentile, can reach up to $838. These figures illustrate the variability in property tax bills within the community, influenced by factors such as property size, location, and improvements. Compared to the national median property tax rate of 0.99%, the property tax rates in Merriam Woods Village may seem relatively low. However, understanding how these taxes are calculated and their impact on your finances is crucial for effective household budgeting.
Average Merriam Woods Village Tax Bill
$42
Average Taney County Tax Bill
$449
Average Missouri Tax Bill
$1,606
Average United States Tax Bill
$2,690
Property Tax Bills Across Merriam Woods Village, Missouri
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 65740 | $16 | $27 | $42 | $255 | $838 |
Source: Ownwell