Eldridge, Missouri Property Taxes
The median property tax rate in Eldridge, MO is 0.73%, notably lower than both the national median of 0.99% and the Missouri state median of 1.20%. With a median home value of $70,200 in Eldridge, the typical annual property tax bill amounts to $488, significantly below the national median of $2,690. Property taxes in Eldridge are determined based on the assessed value, which generally falls below the market value due to various exemptions such as primary residence and agricultural exemptions. Grasping Eldridge's property tax system, exploring available exemptions, and pinpointing opportunities for reductions can result in substantial yearly savings. Whether residing in the heart of Eldridge or another part of the city, understanding the local property tax structure will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Eldridge, Missouri Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.73%
Estimate Property Tax Bill
$512
Ownwell’s Eldridge Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Eldridge with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Eldridge 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 Eldridge, Missouri
Property taxes in Eldridge, Missouri, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Eldridge is 0.73%, which is lower than both the Missouri state median and the U.S. national median of 0.99%. Local government entities within Eldridge set these rates annually, and they can vary significantly across different neighborhoods. Each year, Eldridge 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 Eldridge's effective property tax rate to other counties in Missouri and the national median. For comparison, the zip code 65463 has the highest median property tax rate of 0.73%, while the same zip code also has the lowest median tax rate of 0.73%. Understanding how these areas compare with Eldridge provides valuable insights into the varying tax landscape across Dallas County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Eldridge Tax Rate
0.73%
Average Dallas County Tax Rate
0.78%
Average Missouri Tax Rate
1.20%
Average United States Tax Rate
0.99%
Property Tax Rates Across Eldridge, Missouri
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 65463 | 0.70% | 0.71% | 0.73% | 0.75% | 0.77% |
Source: Ownwell
Property Tax Assessment Values Across Eldridge, Missouri
In Eldridge, 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 Dallas 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 Eldridge, 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 Eldridge helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. Notably, the highest and lowest median tax bills in the area are both $488.00, found in the 65463 zip code.
Average Eldridge Assessed Value
$70,200
Average Dallas County Assessed Value
$66,700
Average Missouri Assessed Value
$129,505
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Eldridge, Missouri
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 65463 | $45,880 | $55,000 | $70,200 | $82,850 | $90,440 |
Source: Ownwell
Property Tax Bills Across Eldridge, Missouri
In Eldridge, located in Dallas County, MO, property tax bills are calculated based on the assessed value of a home and the local tax rate. The assessed value is typically a percentage of the market value, which in Eldridge is derived from the median home price of $70,200. This value is then multiplied by the local tax rate to determine the annual property tax bill. Homeowners in Eldridge can expect their property tax bills to vary significantly. For instance, those in the 25th percentile pay around $399, while those in the 75th percentile see bills closer to $591. The highest median tax bill in the area is $488, which is considerably lower than the national median property tax rate of 0.99%. These property taxes fund essential community services such as schools, public safety, and infrastructure. Understanding how these factors interplay helps homeowners anticipate their financial obligations and the benefits they receive in return.
Average Eldridge Tax Bill
$488
Average Dallas County Tax Bill
$511
Average Missouri Tax Bill
$1,606
Average United States Tax Bill
$2,690
Property Tax Bills Across Eldridge, Missouri
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 65463 | $346 | $399 | $488 | $591 | $653 |
Source: Ownwell