Scott City, Missouri Property Taxes
The median property tax rate in Scott City, MO is 0.96%, slightly below the national median of 0.99% and significantly lower than the Missouri state median of 1.20%. With the median home value in Scott City at $57,000, the typical annual property tax bill is $549, much less than the national median of $2,690. Property taxes in Scott City 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 Scott City'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 Scott City 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
Scott City, 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 Scott City Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Scott City with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Scott City 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 Scott City, Missouri
Property taxes in Scott City, Missouri, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Scott City is 0.96%, which is slightly lower than the U.S. national median of 0.99%. Local government entities within Scott City set these rates annually, and they can vary significantly across different neighborhoods. Each year, Scott City 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 Scott City's effective property tax rate to other counties in Missouri and the national median. For comparison, the zip code 63780 has a median property tax rate of 0.96%, which aligns with Scott City's rate. Understanding how these areas compare with Scott City provides valuable insights into the varying tax landscape across Scott County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Scott City Tax Rate
0.96%
Average Morgan County Tax Rate
0.87%
Average Missouri Tax Rate
1.20%
Average United States Tax Rate
0.99%
Property Tax Rates Across Scott City, Missouri
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 63780 | 0.96% | 0.96% | 0.96% | 0.96% | 0.96% |
Source: Ownwell
Property Tax Assessment Values Across Scott City, Missouri
In Scott City, 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 Scott City, 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 Scott City helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The zip code with both the highest and lowest median tax bills is 63780, with a median tax bill of $549.
Average Scott City Assessed Value
$57,000
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 Scott City, Missouri
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 63780 | $57,000 | $57,000 | $57,000 | $57,000 | $57,000 |
Source: Ownwell
Property Tax Bills Across Scott City, Missouri
In Scott City, located in Morgan County, MO, property tax bills are calculated based on the assessed value of a home, which is determined by local assessors. The median home price in Scott City is $57,000, and the property tax rate is applied to this assessed value to determine the tax bill. The assessed value is typically a percentage of the market value, which is then multiplied by the local tax rate. Several factors influence the final tax bill, including the home's location, size, and any applicable exemptions or abatements. For instance, Scott City homeowners pay a median property tax bill of $549, which is considerably lower than the national median property tax rate of 0.99%. This relatively low tax burden can be a significant financial relief for homeowners, making Scott City an attractive place for property investment. Understanding how these taxes are calculated helps homeowners anticipate their annual expenses and plan their finances accordingly.
Average Scott City Tax Bill
$549
Average Morgan County Tax Bill
$420
Average Missouri Tax Bill
$1,606
Average United States Tax Bill
$2,690
Property Tax Bills Across Scott City, Missouri
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 63780 | $549 | $549 | $549 | $549 | $549 |
Source: Ownwell