Elkland, Missouri Property Taxes
The median property tax rate in Elkland, MO is 0.88%, which is lower than both the national median of 0.99% and Missouri's state median of 1.20%. With a median home value of $69,600 in Elkland, the typical annual property tax bill amounts to $583, significantly less than the national median of $2,690. Property taxes in Elkland are calculated based on the tax assessed value, which often falls below the market value due to various exemptions such as primary residence and agricultural exemptions. Understanding Elkland'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 Elkland 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
Elkland, Missouri Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.88%
Estimate Property Tax Bill
$612
Ownwell’s Elkland Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Elkland with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Elkland 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 Elkland, Missouri
Property taxes in Elkland, Missouri, are essential for funding key local services like public schools, road maintenance, and emergency services. The median tax rate in Elkland is 0.88%, which is lower than the U.S. national median of 0.99%. Local government entities in Elkland set these rates annually, and they can vary across different neighborhoods. Each year, Elkland 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. For comparison, the zip code 65644 has both the highest and lowest median property tax rate of 0.88%. Understanding how these rates compare within Elkland provides valuable insights into the varying tax landscape across Webster County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Elkland Tax Rate
0.88%
Average Webster County Tax Rate
0.95%
Average Missouri Tax Rate
1.20%
Average United States Tax Rate
0.99%
Property Tax Rates Across Elkland, Missouri
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 65644 | 0.78% | 0.84% | 0.88% | 0.89% | 0.89% |
Source: Ownwell
Property Tax Assessment Values Across Elkland, Missouri
Understanding the difference between "market value" and "assessed value" is crucial for comprehending property taxes in Elkland, Missouri. 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 Webster 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 Elkland, 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. For example, the highest median tax bill in Elkland is $583 in the 65644 zip code, which is also the lowest. By being aware of these valuation processes, property owners can identify opportunities for protesting assessments or applying for exemptions to effectively manage their tax burden.
Average Elkland Assessed Value
$69,600
Average Webster County Assessed Value
$95,600
Average Missouri Assessed Value
$129,505
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Elkland, Missouri
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 65644 | $25,250 | $38,175 | $69,600 | $118,200 | $178,130 |
Source: Ownwell
Property Tax Bills Across Elkland, Missouri
In Elkland, property tax bills are calculated based on the assessed value of a home, which is a percentage of its market value. For instance, with a median home price of $69,600, the tax bill can vary significantly. Homeowners in the 25th percentile might see a tax bill around $336, while those in the 75th percentile could face a tax bill of up to $1,014. At the 90th percentile, tax bills can reach as high as $1,520. These variations are influenced by factors such as property improvements, neighborhood developments, and changes in local tax rates. Webster County, where Elkland is located, has a median tax bill of $583, which provides a benchmark for comparison. This means that while some homeowners may pay less, others with higher-valued properties or in different parts of the county may pay more. Understanding these factors can help homeowners anticipate their property tax obligations and plan their finances accordingly.
Average Elkland Tax Bill
$583
Average Webster County Tax Bill
$871
Average Missouri Tax Bill
$1,606
Average United States Tax Bill
$2,690
Property Tax Bills Across Elkland, Missouri
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 65644 | $219 | $336 | $583 | $1,014 | $1,520 |
Source: Ownwell