Santa Fe, Missouri Property Taxes
The median property tax rate in Santa Fe, MO is 1.00%, slightly above the national median of 0.99% but below the Missouri state median of 1.20%. With the median home value in Santa Fe, the typical annual property tax bill is $81, significantly lower than the national median of $2,690. Property taxes in Santa Fe are calculated based on the assessed value, which is often less than the market value due to exemptions like those for primary residences and agricultural properties. Understanding Santa Fe's property tax system, exploring available exemptions, and identifying opportunities for reductions can lead to substantial annual savings. Whether you're in the heart of Santa Fe or another part of Monroe County, comprehending the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Santa Fe, 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 Santa Fe Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Santa Fe with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Santa Fe 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 Santa Fe, Missouri
Property taxes in Santa Fe, Missouri, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Santa Fe is 1.00%, slightly higher than the U.S. national median of 0.99%. Local government entities within Santa Fe set these rates annually, and they can vary significantly across different neighborhoods. Each year, Santa Fe 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 Santa Fe's effective property tax rate to other counties in Missouri and the national median. For comparison, the zip code 65282 has the highest median property tax rate of 1.00%, while the same zip code also has the lowest median tax rate of 1.00%. Understanding how these cities compare with Santa Fe provides valuable insights into the varying tax landscape across Monroe County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Santa Fe Tax Rate
1.00%
Average Monroe County Tax Rate
0.97%
Average Missouri Tax Rate
1.20%
Average United States Tax Rate
0.99%
Property Tax Rates Across Santa Fe, Missouri
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 65282 | 0.82% | 0.93% | 1.00% | 1.03% | 1.03% |
Source: Ownwell
Property Tax Assessment Values Across Santa Fe, Missouri
In Santa Fe, 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 Monroe 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 Santa Fe, 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. For example, in certain zip codes, the 25th percentile tax bill is $26, while the 75th percentile tax bill is $477. 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 Santa Fe helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Santa Fe Assessed Value
$8,200
Average Monroe County Assessed Value
$49,250
Average Missouri Assessed Value
$129,505
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Santa Fe, Missouri
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 65282 | $1,960 | $2,500 | $8,200 | $55,650 | $96,800 |
Source: Ownwell
Property Tax Bills Across Santa Fe, Missouri
In Santa Fe, Monroe County, MO, property tax bills are calculated based on the assessed value of a property, which is a percentage of the market value. The median home price in the area is $8,200. Local tax authorities then apply the tax rate to this assessed value to determine the annual tax bill. Factors such as property improvements, local tax levies, and changes in market conditions can influence the assessed value. For homeowners in Santa Fe, the property tax bill can vary significantly. For instance, the tax bill at the 25th percentile is $26, while at the 75th percentile, it rises to $477, and at the 90th percentile, it reaches $845. This variability can impact homeowners differently, with some facing relatively low tax bills and others experiencing higher financial obligations. Understanding these factors is crucial for homeowners to anticipate their annual property tax expenses and plan their finances accordingly.
Average Santa Fe Tax Bill
$81
Average Monroe County Tax Bill
$442
Average Missouri Tax Bill
$1,606
Average United States Tax Bill
$2,690
Property Tax Bills Across Santa Fe, Missouri
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 65282 | $20 | $26 | $81 | $477 | $845 |
Source: Ownwell