Roscoe, Missouri Property Taxes
The median property tax rate in Roscoe, MO is 0.99%, aligning with the national median of 0.99% but lower than the Missouri state median of 1.20%. With the median home value in Roscoe at $35,600, the typical annual property tax bill reaches $352, significantly below the national median of $2,690. Property taxes in Roscoe are calculated based on the tax assessed value, which often falls below the market value due to exemptions such as the primary residence and agricultural exemptions. Understanding Roscoe’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 Roscoe 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
Roscoe, Missouri Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.99%
Estimate Property Tax Bill
$352
Ownwell’s Roscoe Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Roscoe with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Roscoe 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 Roscoe, Missouri
Property taxes in Roscoe, Missouri, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Roscoe is 0.66%, which is lower than both the Missouri state median of 0.91% and the U.S. national median of 0.99%. Local government entities within Roscoe set these rates annually, and they can vary significantly across different neighborhoods. Each year, Roscoe 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 Roscoe's effective property tax rate to other counties in Missouri and the national median. For comparison, the 65203 zip code has the highest median property tax rate of 1.22%, while the 65601 zip code has the lowest median tax rate of 0.42%. Understanding how these cities compare with Roscoe provides valuable insights into the varying tax landscape across St. Clair County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Roscoe Tax Rate
0.99%
Average Morgan County Tax Rate
0.87%
Average Missouri Tax Rate
1.20%
Average United States Tax Rate
0.99%
Property Tax Rates Across Roscoe, Missouri
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 61073 | 0.99% | 0.99% | 0.99% | 0.99% | 0.99% |
Source: Ownwell
Property Tax Assessment Values Across Roscoe, Missouri
In Roscoe, 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 Roscoe, 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 Roscoe helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. For instance, the highest and lowest median tax bills in Roscoe are both $352, found in the zip code 61073.
Average Roscoe Assessed Value
$35,600
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 Roscoe, Missouri
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 61073 | $35,600 | $35,600 | $35,600 | $35,600 | $35,600 |
Source: Ownwell
Property Tax Bills Across Roscoe, Missouri
In Roscoe, property tax bills are calculated based on the assessed value of a home, which is determined by the local tax assessor. The assessed value is a percentage of the property's market value. For homeowners in Roscoe, the median home price is $35,600. Property tax rates in Roscoe are relatively modest compared to the national median property tax rate of 0.99%. Factors that influence the tax bill include the home’s assessed value and the local tax rate set by Morgan County. In Roscoe, the tax bill at the 25th, 75th, and 90th percentiles is consistently $352, indicating a stable and predictable tax environment for homeowners. This uniformity simplifies budgeting for property taxes, making it easier for residents to manage their finances. Understanding how these factors interplay helps homeowners anticipate their annual tax obligations, ensuring they are better prepared for any financial planning.
Average Roscoe Tax Bill
$352
Average Morgan County Tax Bill
$420
Average Missouri Tax Bill
$1,606
Average United States Tax Bill
$2,690
Property Tax Bills Across Roscoe, Missouri
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 61073 | $352 | $352 | $352 | $352 | $352 |
Source: Ownwell