Jackson, Missouri Property Taxes
The median property tax rate in Jackson, MO is 0.97%, which is slightly below the national median of 0.99% and significantly lower than the Missouri state median of 1.20%. With a median home value of $136,878 in Jackson, the typical annual property tax bill amounts to $1,297, which is notably less than the national median of $2,690. Property taxes in Jackson are calculated based on the tax assessed value, often lower than the market value due to exemptions like primary residence and agricultural exemptions. Understanding Jackson'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 Jackson 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
Jackson, Missouri Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.97%
Estimate Property Tax Bill
$1,328
Ownwell’s Jackson Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Jackson with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Jackson 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 Jackson, Missouri
Property taxes in Jackson, Missouri, are essential for funding critical local services such as public schools, road maintenance, and emergency services. The median tax rate in Jackson is 0.97%, which is slightly below the U.S. national median of 0.99%. Local government entities within Jackson set these rates annually, and they can vary significantly across different neighborhoods. Each year, Jackson 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 Jackson's effective property tax rate to other areas in Missouri and the national median. For comparison, the zip code 63755 has both the highest and lowest median property tax rate of 0.97%. Understanding how these areas compare with Jackson 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 Jackson Tax Rate
0.97%
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 Jackson, Missouri
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 63755 | 0.86% | 0.95% | 0.97% | 0.97% | 0.97% |
Source: Ownwell
Property Tax Assessment Values Across Jackson, Missouri
In Jackson, 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 Cape Girardeau County 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 Jackson, 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 Jackson helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The highest and lowest median tax bills in Jackson are both $1,297, found in the zip code 63755.
Average Jackson Assessed Value
$136,878
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 Jackson, Missouri
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 63755 | $66,286 | $90,812 | $136,878 | $193,131 | $265,856 |
Source: Ownwell
Property Tax Bills Across Jackson, Missouri
In Jackson, Cape Girardeau County, Missouri, property tax bills are determined based on the assessed value of a home, which is a percentage of its market value. For homeowners, this means that the higher their property's market value, the higher their tax bill will be. Factors such as property improvements, neighborhood developments, and market trends can influence the assessed value. For instance, with a median home price of $136,878, homeowners in Jackson can expect varying tax bills. The tax bill at the 25th percentile is around $861, while at the 75th percentile, it rises to approximately $1,820. At the 90th percentile, it can reach up to $2,535. These figures highlight the range of property tax burdens homeowners might experience. Comparatively, the highest median tax bill in the area is $1,297, which is significantly higher than the national median property tax rate of 0.99%. Understanding these factors helps homeowners anticipate their financial responsibilities and plan accordingly.
Average Jackson Tax Bill
$1,297
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 Jackson, Missouri
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 63755 | $626 | $861 | $1,297 | $1,820 | $2,535 |
Source: Ownwell