Edgar Springs, Missouri Property Taxes
The median property tax rate in Edgar Springs, MO is 0.67%, significantly lower than both the national median of 0.99% and the Missouri state median of 1.20%. With the median home value in Edgar Springs, the typical annual property tax bill amounts to $520, which is well below the national median of $2,690. Property taxes in Edgar Springs are determined based on the assessed value, which is often less than the market value due to various exemptions, such as those for primary residences and agricultural properties. Understanding Edgar Springs' property tax system, exploring available exemptions, and identifying opportunities for reductions can lead to substantial annual savings. Whether you're in the heart of Edgar Springs or another part of the city, gaining knowledge of the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Edgar Springs, Missouri Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.67%
Estimate Property Tax Bill
$487
Ownwell’s EDGAR SPRINGS Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in EDGAR SPRINGS with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in EDGAR SPRINGS 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 Edgar Springs, Missouri
Property taxes in Edgar Springs, Missouri, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Edgar Springs is 0.67%, which is lower than both the Missouri state median and the U.S. national median of 0.99%. Local government entities within Edgar Springs set these rates annually, and they can vary significantly across different neighborhoods. Each year, Edgar Springs 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 Edgar Springs' effective property tax rate to other areas in Missouri and the national median. For comparison, the 65462 zip code has the highest median property tax rate of 0.67%, while the same zip code also has the lowest median tax rate of 0.67%. Understanding how these cities compare with Edgar Springs provides valuable insights into the varying tax landscape across Phelps County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Edgar Springs Tax Rate
0.67%
Average Dent County Tax Rate
0.76%
Average Missouri Tax Rate
1.20%
Average United States Tax Rate
0.99%
Property Tax Rates Across Edgar Springs, Missouri
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 65462 | 0.62% | 0.65% | 0.67% | 0.67% | 0.68% |
Source: Ownwell
Property Tax Assessment Values Across Edgar Springs, Missouri
In Edgar Springs, 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 Dent 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 Edgar Springs, 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 Edgar Springs helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The zip code 65462 has the highest and lowest median tax bill at $520, with tax bills ranging from $344 at the 25th percentile to $718 at the 90th percentile.
Average Edgar Springs Assessed Value
$72,660
Average Dent County Assessed Value
$43,260
Average Missouri Assessed Value
$129,505
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Edgar Springs, Missouri
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 65462 | $12,124 | $43,580 | $72,660 | $99,935 | $110,206 |
Source: Ownwell
Property Tax Bills Across Edgar Springs, Missouri
In Edgar Springs, property tax bills are calculated based on the assessed value of a home, which is a percentage of its market value. The median home price in the area is $72,660. Tax bills are then determined by applying the local property tax rate to this assessed value. For instance, the median property tax bill in Edgar Springs stands at $520, which is considerably lower than the national median property tax rate of 0.99%. Several factors influence the final tax bill, including the home's market value, the local tax rate, and any applicable exemptions or deductions. For homeowners, this means that those with higher-valued properties or fewer exemptions will face higher tax bills. In Edgar Springs, tax bills range significantly, with the 25th percentile at $344 and the 90th percentile reaching $718. Understanding these factors can help homeowners better anticipate their property tax obligations and plan their finances accordingly.
Average Edgar Springs Tax Bill
$520
Average Dent County Tax Bill
$374
Average Missouri Tax Bill
$1,606
Average United States Tax Bill
$2,690
Property Tax Bills Across Edgar Springs, Missouri
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 65462 | $248 | $344 | $520 | $668 | $718 |
Source: Ownwell