Eminence, Missouri Property Taxes
The median property tax rate in Eminence, MO is 0.72%, considerably lower than both the national median of 0.99% and the Missouri state median of 1.20%. With the median home value in Eminence at $47,400, the typical annual property tax bill reaches $342, significantly below the national median of $2,690. Property taxes in Eminence are calculated based on the tax assessed value, which typically falls below the market value due to various exemptions like the primary residence and agricultural exemptions. Understanding Eminence'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 Eminence or another part of Shannon County, understanding the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Eminence, Missouri Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.72%
Estimate Property Tax Bill
$341
Ownwell’s Eminence Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Eminence with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Eminence 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 Shannon County for property tax calculations, accounting for any exemptions that may apply.
Property Tax Rates Across Eminence, Missouri
Property taxes in Eminence, Missouri, are crucial for funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Eminence is 0.72%, which is lower than the U.S. national median of 0.99%. Local government entities within Eminence set these rates annually, and they can vary significantly across different neighborhoods. Each year, Eminence 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 Eminence's effective property tax rate to other regions in Missouri and the national median. For comparison, the 65466 zip code has the highest median property tax rate of 0.72%, while the 65588 zip code has the lowest median tax rate of 0.72%. Understanding how these areas compare with Eminence provides valuable insights into the varying tax landscape across Shannon County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Eminence Tax Rate
0.72%
Average Shannon County Tax Rate
0.70%
Average Missouri Tax Rate
1.20%
Average United States Tax Rate
0.99%
Property Tax Rates Across Eminence, Missouri
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 65466 | 0.66% | 0.70% | 0.72% | 0.74% | 0.79% |
| 65588 | 0.61% | 0.69% | 0.72% | 0.73% | 0.77% |
Source: Ownwell
Property Tax Assessment Values Across Eminence, Missouri
In Eminence, 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 Shannon County 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 Eminence, 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 Eminence helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The highest median tax bill in Shannon County is $449 in the 65588 zip code, while the lowest is $336 in the 65466 zip code.
Average Eminence Assessed Value
$47,400
Average Shannon County Assessed Value
$46,800
Average Missouri Assessed Value
$129,505
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Eminence, Missouri
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 65466 | $16,140 | $25,350 | $45,800 | $84,050 | $143,260 |
| 65588 | $20,560 | $33,325 | $64,000 | $95,350 | $154,540 |
Source: Ownwell
Property Tax Bills Across Eminence, Missouri
In Eminence, Shannon County, MO, property tax bills are calculated based on the assessed value of a property, which is a percentage of its market value. The median home price in Eminence is $47,400. The local tax rate is applied to this assessed value to determine the annual tax bill. Factors such as property improvements, neighborhood developments, and market conditions can influence the assessed value, thereby impacting the tax bill. Homeowners in Eminence experience a range of property tax bills, with the 25th percentile paying around $193, and the 75th percentile facing bills up to $597. Those in the 90th percentile can see tax bills as high as $1,023. Comparatively, Eminence's highest median tax bill is $449 in the 65588 zip code, while the lowest median tax bill is $336 in the 65466 zip code. These variations can significantly affect homeowners' annual expenses, making it essential for them to stay informed about their property's assessed value and any potential exemptions they might qualify for.
Average Eminence Tax Bill
$342
Average Shannon County Tax Bill
$320
Average Missouri Tax Bill
$1,606
Average United States Tax Bill
$2,690
Property Tax Bills Across Eminence, Missouri
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 65466 | $117 | $186 | $336 | $597 | $977 |
| 65588 | $143 | $245 | $449 | $613 | $1,106 |
Source: Ownwell