Desoto, Missouri Property Taxes
The median property tax rate in De Soto, MO is 1.26%, considerably higher than both the national median of 0.99% and the Missouri state median of 1.20%. With the median home value in De Soto at $99,700, the typical annual property tax bill reaches $1,347, exceeding the national median of $2,690. Property taxes in De Soto are calculated based on the tax assessed value, which typically falls below the market value due to various exemptions like the primary residence and agricultural exemptions. Understanding De Soto'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 De Soto 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
Desoto, Missouri Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.26%
Estimate Property Tax Bill
$1,256
Ownwell’s DESOTO Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in DESOTO with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in DESOTO 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 Desoto, Missouri
Property taxes in Desoto, Missouri, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Desoto is 1.26%, higher than both the Missouri state median and the U.S. national median of 0.99%. Local government entities within Desoto set these rates annually, and they can vary significantly across different neighborhoods. Each year, Desoto 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 Desoto's effective property tax rate to other counties in Missouri and the national median. For comparison, the 63020 zip code has the highest median property tax rate of 1.26%, while the same zip code also has the lowest median tax rate of 1.26%. Understanding how these cities compare with Desoto provides valuable insights into the varying tax landscape across Jefferson County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Desoto Tax Rate
1.26%
Average Jefferson County Tax Rate
1.33%
Average Missouri Tax Rate
1.20%
Average United States Tax Rate
0.99%
Property Tax Rates Across Desoto, Missouri
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 63020 | 1.13% | 1.22% | 1.26% | 1.29% | 1.33% |
Source: Ownwell
Property Tax Assessment Values Across Desoto, Missouri
In DESOTO, 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 Jefferson 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 DESOTO, 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 DESOTO helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The zip code 63020 has the highest median tax bill at $1,347, while the lowest also stands at $1,347, reflecting a consistent tax rate across the area.
Average Desoto Assessed Value
$99,700
Average Jefferson County Assessed Value
$133,600
Average Missouri Assessed Value
$129,505
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Desoto, Missouri
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 63020 | $58,920 | $71,100 | $99,700 | $112,800 | $137,580 |
Source: Ownwell
Property Tax Bills Across Desoto, Missouri
In Desoto, located in Jefferson County, MO, property tax bills are calculated based on the assessed value of a homeowner's property. The assessed value is typically a percentage of the property's market value, which is determined by local assessors. Various factors, including property size, location, and market trends, influence this valuation. Once the assessed value is established, the local tax rate is applied to calculate the annual tax bill. For instance, with a median home price of $99,700, homeowners in Desoto can expect their tax bills to vary significantly. At the 25th percentile, tax bills are around $864, while at the 75th percentile, they can reach up to $1,421. For those in the 90th percentile, tax bills may be as high as $1,758. These property taxes are crucial for funding local services such as schools, public safety, and infrastructure. Compared to the national median property tax rate of 0.99%, Desoto's property taxes can have a substantial impact on a homeowner’s annual expenses, emphasizing the importance of accurate assessments and fair taxation.
Average Desoto Tax Bill
$1,347
Average Jefferson County Tax Bill
$1,729
Average Missouri Tax Bill
$1,606
Average United States Tax Bill
$2,690
Property Tax Bills Across Desoto, Missouri
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 63020 | $673 | $864 | $1,347 | $1,421 | $1,758 |
Source: Ownwell