Elkland, Missouri Property Taxes
The median property tax rate in Elkland, MO, is 0.78%, which is lower than both the national median of 0.99% and the Missouri state median of 1.20%. With a median home value of $71,650 in Elkland, the typical annual property tax bill amounts to $558, which is significantly less than the national median of $2,690. Property taxes in Elkland are calculated based on the tax assessed value, often lower than 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 Dallas County, comprehending 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
0.78%
Estimate Property Tax Bill
$559
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 vital in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Elkland is 0.78%, which is lower than the U.S. national median of 0.99%. Local government entities within Elkland set these rates annually, and they can vary significantly 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. The data below compares Elkland's effective property tax rate to other counties in Missouri and the national median. For comparison, the 65644 zip code has the highest median property tax rate of 0.78%, while the same zip code also has the lowest median tax rate of 0.78%. Understanding how these cities compare with Elkland 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 Elkland Tax Rate
0.78%
Average Dallas County Tax Rate
0.78%
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 | 0.70% | 0.75% | 0.78% | 0.83% | 0.89% |
Source: Ownwell
Property Tax Assessment Values Across Elkland, Missouri
In Elkland, 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 Assessor's Office 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. Being aware of these valuation processes in Elkland helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The highest median tax bill in Elkland is $558.00 in the 65644 zip code, while the lowest median tax bill is also $558.00 in the same zip code.
Average Elkland Assessed Value
$71,650
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 Elkland, Missouri
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 65644 | $24,430 | $40,250 | $71,650 | $108,575 | $149,040 |
Source: Ownwell
Property Tax Bills Across Elkland, Missouri
In Elkland, Dallas County, MO, property tax bills are calculated based on the assessed value of a home, which is determined as a percentage of its market value. For instance, if a home has a median market value of $71,650, the assessed value is a portion of this figure, subjected to local assessment ratios. The tax rate is then applied to this assessed value to calculate the annual property tax bill. Several factors influence the final tax bill, including the property's assessed value, the local tax rate, and any applicable exemptions. Homeowners in Elkland typically see a wide range of tax bills. At the 25th percentile, the tax bill is around $322, while at the 75th percentile, it rises to about $866. The 90th percentile tax bill can reach $1,176. These property taxes significantly impact homeowners, as they contribute to local services such as schools, infrastructure, and emergency services. Understanding how these factors interplay helps homeowners anticipate their financial obligations and plan accordingly.
Average Elkland Tax Bill
$558
Average Dallas County Tax Bill
$511
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 | $194 | $322 | $558 | $866 | $1,176 |
Source: Ownwell