Philadelphia, Missouri Property Taxes
The median property tax rate in Philadelphia, MO is 0.90%, which is lower than both the national median of 0.99% and the Missouri state median of 1.20%. With the median home value in Philadelphia at $96,940, the typical annual property tax bill is around $870, significantly below the national median of $2,690. Property taxes in Philadelphia are calculated based on the tax assessed value, which often falls below the market value due to various exemptions such as those for primary residences and agricultural properties. Understanding Philadelphia'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 Philadelphia or another part of Marion County, comprehending the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Philadelphia, Missouri Property Tax Bill Calculator
$100,000
$2,500,000
$5,000,000
Average Tax Rate
1.2%
Estimate Property Tax Bill
$2,400
Ownwell’s Philadelphia Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Philadelphia with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Philadelphia 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 Philadelphia, Missouri
Property taxes in Philadelphia, Missouri, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Philadelphia is 0.90%, which is lower than the U.S. national median of 0.99%. Local government entities within Philadelphia set these rates annually, and they can vary significantly across different neighborhoods. Each year, Philadelphia 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 Philadelphia's effective property tax rate to other counties in Missouri and the national median. For comparison, the 63463 zip code has both the highest and lowest median property tax rate of 0.90%. Understanding how these areas compare with Philadelphia provides valuable insights into the varying tax landscape across Marion County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Philadelphia Tax Rate
0.90%
Average Marion County Tax Rate
1.02%
Average Missouri Tax Rate
1.20%
Average United States Tax Rate
0.99%
Property Tax Rates Across Philadelphia, Missouri
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 63463 | 0.61% | 0.79% | 0.90% | 0.95% | 0.97% |
Source: Ownwell
Property Tax Assessment Values Across Philadelphia, Missouri
In Philadelphia, 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 Marion 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 Philadelphia, 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 Philadelphia helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. Notably, the zip code 63463 has the highest median tax bill at $870.00, which is also the lowest.
Average Philadelphia Assessed Value
$96,940
Average Marion County Assessed Value
$80,490
Average Missouri Assessed Value
$129,505
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Philadelphia, Missouri
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 63463 | $20,144 | $52,930 | $96,940 | $148,670 | $218,760 |
Source: Ownwell
Property Tax Bills Across Philadelphia, Missouri
In Philadelphia, located in Marion County, MO, property tax bills are calculated based on the assessed value of a home, which is derived from a percentage of the market value. The median home price in this area stands at $96,940. Homeowners can expect a tax bill that varies significantly depending on the specific assessed value of their property. For instance, the tax bill at the 25th percentile is approximately $426, while at the 75th percentile, it reaches around $1,336. At the 90th percentile, homeowners might see a tax bill as high as $1,953. These tax bills are influenced by several factors, including property location, improvements, and local tax rates. The highest and lowest median tax bills in the region are both recorded at $870, specifically in the zip code 63463. Compared to the national median property tax rate of 0.99%, Philadelphia's property tax rates can vary but generally align with these figures, impacting homeowners' annual financial planning and budgeting.
Average Philadelphia Tax Bill
$870
Average Marion County Tax Bill
$807
Average Missouri Tax Bill
$1,606
Average United States Tax Bill
$2,690
Property Tax Bills Across Philadelphia, Missouri
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 63463 | $135 | $426 | $870 | $1,336 | $1,953 |
Source: Ownwell