Glencoe, Missouri Property Taxes
The median property tax rate in Glencoe, MO is 1.30%, considerably higher than both the national median of 0.99% and Missouri's state median of 1.20%. With the median home value in Glencoe, the typical annual property tax bill reaches $792, which is lower than the national median of $2,690. Property taxes in Glencoe are calculated based on the tax assessed value, often below the market value due to various exemptions like the primary residence and agricultural exemptions. Understanding Glencoe'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 Glencoe 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
Glencoe, 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 Glencoe Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Glencoe with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Glencoe 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 Glencoe, Missouri
Property taxes in Glencoe, Missouri, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Glencoe is 1.30%, significantly higher than the U.S. national median of 0.99%. Local government entities within Glencoe set these rates annually, and they can vary significantly across different neighborhoods. Each year, Glencoe 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 Glencoe's effective property tax rate to other counties in Missouri and the national median. For comparison, the 63038 zip code has the highest median property tax rate of 1.30%, while the same zip code also has the lowest median tax rate of 1.30%. Understanding how these cities compare with Glencoe provides valuable insights into the varying tax landscape across St. Louis County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Glencoe Tax Rate
1.30%
Average St. Louis County Tax Rate
1.35%
Average Missouri Tax Rate
1.20%
Average United States Tax Rate
0.99%
Property Tax Rates Across Glencoe, Missouri
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 63038 | 1.30% | 1.30% | 1.30% | 1.30% | 1.30% |
Source: Ownwell
Property Tax Assessment Values Across Glencoe, Missouri
In Glencoe, 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 St. Louis County Assessor 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. Assessment notices in Glencoe 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 Glencoe helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The highest and lowest median tax bills in Glencoe are both $792, with the zip code 63038.
Average Glencoe Assessed Value
$45,100
Average St. Louis County Assessed Value
$226,500
Average Missouri Assessed Value
$129,505
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Glencoe, Missouri
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 63038 | $32,540 | $37,250 | $45,100 | $52,950 | $57,660 |
Source: Ownwell
Property Tax Bills Across Glencoe, Missouri
Property tax bills in Glencoe, located in St. Louis County, MO, are calculated based on the assessed value of a homeowner's property. The assessed value is determined by the local assessor's office and typically represents a percentage of the property's market value. In Glencoe, homeowners can expect a median property tax bill of $792, which is significantly lower than the national median property tax rate of 0.99%. Factors influencing the tax bill include the property's assessed value, local tax rates, and any applicable exemptions or deductions. For instance, exemptions for seniors or veterans can reduce the taxable value, thereby lowering the overall tax bill. This relatively low tax burden can be a financial relief for homeowners, making Glencoe an attractive place for property investment. Understanding how these factors interplay can help homeowners anticipate their annual expenses and plan their finances accordingly. It also highlights the importance of accurate property assessments and staying informed about potential exemptions.
Average Glencoe Tax Bill
$792
Average St. Louis County Tax Bill
$3,143
Average Missouri Tax Bill
$1,606
Average United States Tax Bill
$2,690
Property Tax Bills Across Glencoe, Missouri
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 63038 | $792 | $792 | $792 | $792 | $792 |
Source: Ownwell