Steedman, Missouri Property Taxes
The median property tax rate in Steedman, MO is 0.79%, which is notably lower than both the national median of 0.99% and the Missouri state median of 1.20%. With a median home value of $41,010 in Steedman, the typical annual property tax bill amounts to $322, significantly below the national median of $2,690. Property taxes in Steedman are calculated based on the tax assessed value, which is often lower than the market value due to various exemptions, such as those for primary residences and agricultural land. Gaining a thorough understanding of Steedman’s property tax system, exploring available exemptions, and identifying opportunities for reductions can result in substantial annual savings. Whether you're in the heart of Steedman or another part of Callaway County, comprehending the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Steedman, Missouri Property Tax Bill Calculator
$100,000
$2,500,000
$5,000,000
Average Tax Rate
1.2%
Estimate Property Tax Bill
$2,400
Ownwell’s Steedman Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Steedman with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Steedman 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 Steedman, Missouri
Property taxes in Steedman, Missouri, are vital in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Steedman is 0.79%, which is lower than the U.S. national median of 0.99%. Local government entities within Steedman set these rates annually, and they can vary significantly across different neighborhoods. Each year, Steedman 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 Steedman's effective property tax rate to other areas in Missouri and the national median. For comparison, the zip code 65077 has the highest median property tax rate of 0.79%, while the same zip code also has the lowest median tax rate of 0.79%. Understanding how these areas compare with Steedman provides valuable insights into the varying tax landscape across Callaway County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Steedman Tax Rate
0.79%
Average Callaway County Tax Rate
1.19%
Average Missouri Tax Rate
1.20%
Average United States Tax Rate
0.99%
Property Tax Rates Across Steedman, Missouri
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 65077 | 0.71% | 0.75% | 0.79% | 0.93% | 1.16% |
Source: Ownwell
Property Tax Assessment Values Across Steedman, Missouri
In Steedman, 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 Callaway 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 Steedman, 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 Steedman helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The highest and lowest median tax bills in Steedman are both $322.00, found in the zip code 65077.
Average Steedman Assessed Value
$41,010
Average Callaway County Assessed Value
$118,130
Average Missouri Assessed Value
$129,505
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Steedman, Missouri
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 65077 | $6,016 | $14,020 | $41,010 | $92,940 | $160,792 |
Source: Ownwell
Property Tax Bills Across Steedman, Missouri
Property tax bills in Steedman, located in Callaway County, MO, are calculated based on the assessed value of the property, which is typically a percentage of the market value. Homeowners in Steedman see a range of tax bills, reflecting the diversity in property values and the specific tax rates applied. For example, the 25th percentile of tax bills is around $118, while the 75th percentile reaches up to $696, and the 90th percentile can go as high as $1,195. The median home price in Steedman stands at $41,010, which significantly influences the tax amounts. Compared to the national median property tax rate of 0.99%, Steedman’s property tax bills are relatively modest. The highest and lowest median tax bills in the area both stand at $322, specifically in the zip code 65077. These factors collectively impact homeowners by determining their annual financial obligations for property taxes, influencing both affordability and long-term investment decisions in the region.
Average Steedman Tax Bill
$322
Average Callaway County Tax Bill
$1,342
Average Missouri Tax Bill
$1,606
Average United States Tax Bill
$2,690
Property Tax Bills Across Steedman, Missouri
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 65077 | $64 | $118 | $322 | $696 | $1,195 |
Source: Ownwell