Cape Girardeau, Missouri Property Taxes
The median property tax rate in Cape Girardeau, MO is 0.99%, aligning with the national median but lower than the Missouri state median of 1.20%. With the median home value in Cape Girardeau at $109,889, the typical annual property tax bill reaches $1,062, which is below the national median of $2,690. Property taxes in Cape Girardeau are calculated based on the tax assessed value, often lower than the market value due to exemptions like the primary residence and agricultural exemptions. Understanding Cape Girardeau'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 Cape Girardeau or another part of the city, grasping the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Cape Girardeau, 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 Cape Girardeau Property Tax Bill Calculator is a valuable tool for homeowners, real estate investors, and potential buyers to estimate their annual property taxes in Cape Girardeau with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Cape Girardeau 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 Cape Girardeau, Missouri
Property taxes in Cape Girardeau, Missouri, are vital in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Cape Girardeau is 0.99%, which aligns with the U.S. national median of 0.99%. Local government entities within Cape Girardeau set these rates annually, and they can vary significantly across different neighborhoods. Each year, Cape Girardeau 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 Cape Girardeau's effective property tax rate to other areas in Missouri and the national median. For comparison, the 63703 zip code has the highest median property tax rate of 0.99%, while the 63701 zip code has the lowest median tax rate of 0.99%. Understanding how these areas compare with Cape Girardeau provides valuable insights into the varying tax landscape across Cape Girardeau County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Cape Girardeau Tax Rate
0.99%
Average Cape Girardeau County Tax Rate
0.97%
Average Missouri Tax Rate
1.20%
Average United States Tax Rate
0.99%
Property Tax Rates Across Cape Girardeau, Missouri
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 63701 | 0.86% | 0.94% | 0.99% | 0.99% | 0.99% |
| 63703 | 0.99% | 0.99% | 0.99% | 0.99% | 0.99% |
Source: Ownwell
Property Tax Assessment Values Across Cape Girardeau, Missouri
In Cape Girardeau, 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 local appraisal district 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 Cape Girardeau, 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 Cape Girardeau helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The highest median tax bill in Cape Girardeau is $1,182 in the 63701 zip code, while the lowest is $552 in the 63703 zip code.
Average Cape Girardeau Assessed Value
$109,889
Average Cape Girardeau County Assessed Value
$116,512
Average Missouri Assessed Value
$129,505
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Cape Girardeau, Missouri
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 63701 | $59,162 | $84,261 | $122,215 | $185,861 | $304,378 |
| 63703 | $27,602 | $37,547 | $55,770 | $81,316 | $123,267 |
Source: Ownwell
Property Tax Bills Across Cape Girardeau, Missouri
In Cape Girardeau, MO, property tax bills are determined based on the assessed value of a property, which is a percentage of its market value. The median home price in the area is $109,889. Property taxes are then calculated by applying the local tax rate to this assessed value. For instance, the median tax bill in Cape Girardeau County is $1,182, which is higher than the national median property tax rate of 0.99%. Several factors influence the final tax bill, including property location, size, and improvements. Homeowners in different parts of the city may see varying tax bills due to these factors. For example, in zip code 63701, the highest median tax bill is $1,182, while in zip code 63703, the lowest median tax bill is $552. These tax bills significantly impact homeowners, influencing their overall housing costs and financial planning. Understanding how these taxes are calculated can help homeowners better manage their budgets and anticipate future expenses.
Average Cape Girardeau Tax Bill
$1,062
Average Cape Girardeau County Tax Bill
$1,109
Average Missouri Tax Bill
$1,606
Average United States Tax Bill
$2,690
Property Tax Bills Across Cape Girardeau, Missouri
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 63701 | $574 | $814 | $1,182 | $1,775 | $2,881 |
| 63703 | $273 | $370 | $552 | $805 | $1,232 |
Source: Ownwell