Clarksdale, Missouri Property Taxes
The median property tax rate in Clarksdale, MO is 0.94%, slightly below the national median of 0.99% and significantly lower than the Missouri state median of 1.20%. With a median home value in Clarksdale of $123,700, the typical annual property tax bill amounts to $1,163, well under the national median of $2,690. Property taxes in Clarksdale are determined based on the tax assessed value, which is often lower than the market value due to exemptions such as primary residence and agricultural exemptions. Gaining a thorough understanding of Clarksdale's property tax system, exploring available exemptions, and identifying opportunities for reductions can result in substantial annual savings. Whether you reside in the heart of Clarksdale or another part of Morgan County, understanding the local property tax system is beneficial for both homeowners and real estate investors.
Last Updated June 14, 2024
Clarksdale, Missouri Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.94%
Estimate Property Tax Bill
$1,163
Ownwell’s Clarksdale Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Clarksdale with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Clarksdale 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 Clarksdale, Missouri
Property taxes in Clarksdale, Missouri, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Clarksdale is 0.94%, which is lower than the U.S. national median of 0.99%. Local government entities in Clarksdale set these rates annually, and they can vary significantly across different neighborhoods. Each year, Clarksdale 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. For comparison, the zip code 64430 has both the highest and lowest median property tax rate of 0.94%, making it consistent across Clarksdale. Understanding how these rates compare with other regions provides valuable insights into the varying tax landscape across Morgan County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Clarksdale Tax Rate
0.94%
Average Morgan County Tax Rate
0.87%
Average Missouri Tax Rate
1.20%
Average United States Tax Rate
0.99%
Property Tax Rates Across Clarksdale, Missouri
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 64430 | 0.94% | 0.94% | 0.94% | 0.94% | 0.94% |
Source: Ownwell
Property Tax Assessment Values Across Clarksdale, Missouri
In Clarksdale, 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 Morgan 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 Clarksdale, 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. The median home price in Clarksdale is $123,700, with the highest and lowest median tax bills both recorded at $1,163 in the 64430 zip code. Being aware of these valuation processes helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Clarksdale Assessed Value
$123,700
Average Morgan County Assessed Value
$49,350
Average Missouri Assessed Value
$129,505
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Clarksdale, Missouri
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 64430 | $123,700 | $123,700 | $123,700 | $123,700 | $123,700 |
Source: Ownwell
Property Tax Bills Across Clarksdale, Missouri
In Clarksdale, located in Morgan County, MO, property tax bills are calculated based on the assessed value of a home, which is a percentage of its market value. For instance, if the median home price is $123,700, the assessed value is determined by applying the state's assessment ratio to this market value. The property tax rate is then applied to the assessed value to determine the tax bill. Factors such as local levy rates, which fund public services like schools and infrastructure, also play a significant role in determining the final tax amount. In Clarksdale, the median property tax bill is $1,163, which is notably higher than the national median property tax rate of 0.99%. This higher tax bill can impact homeowners by increasing their annual expenses, but it also supports essential community services that contribute to the overall quality of life. Understanding how these factors interplay helps homeowners anticipate their financial obligations and the benefits they receive in return.
Average Clarksdale Tax Bill
$1,163
Average Morgan County Tax Bill
$420
Average Missouri Tax Bill
$1,606
Average United States Tax Bill
$2,690
Property Tax Bills Across Clarksdale, Missouri
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 64430 | $1,163 | $1,163 | $1,163 | $1,163 | $1,163 |
Source: Ownwell