Dexter, Missouri Property Taxes
The median property tax rate in Dexter, MO is 0.88%, which is lower than both the national median of 0.99% and the Missouri state median of 1.20%. With a median home value of $87,900 in Dexter, the typical annual property tax bill is around $821, significantly below the national median of $2,690. Property taxes in Dexter are calculated based on the tax assessed value, which often falls below the market value due to various exemptions such as primary residence and agricultural exemptions. Understanding Dexter'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 Dexter or another part of the city, grasping the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Dexter, Missouri Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.88%
Estimate Property Tax Bill
$774
Ownwell’s Dexter Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Dexter with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Dexter 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 Dexter, Missouri
Property taxes in Dexter, Missouri, are essential for funding critical local services such as public schools, road maintenance, and emergency services. The median tax rate in Dexter is 0.88%, slightly below the U.S. national median of 0.99%. Local government entities within Dexter set these rates annually, and they can vary significantly across different neighborhoods. Each year, Dexter 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 Dexter's effective property tax rate to other areas in Missouri and the national median. For comparison, the zip code 63841 has both the highest and lowest median property tax rate of 0.88%, which is the same as Dexter's median rate. Understanding how these areas compare with Dexter provides valuable insights into the varying tax landscape across Stoddard County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Dexter Tax Rate
0.88%
Average Stoddard County Tax Rate
0.85%
Average Missouri Tax Rate
1.20%
Average United States Tax Rate
0.99%
Property Tax Rates Across Dexter, Missouri
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 63841 | 0.79% | 0.86% | 0.88% | 0.88% | 0.92% |
Source: Ownwell
Property Tax Assessment Values Across Dexter, Missouri
In Dexter, 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 Stoddard 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. In Dexter, 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 Dexter is $87,900, with tax bills ranging from $380 at the 25th percentile to $2,357 at the 90th percentile. The highest and lowest median tax bills are both $821 in the 63841 zip code. Being aware of these valuation processes in Dexter helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Dexter Assessed Value
$87,900
Average Stoddard County Assessed Value
$85,450
Average Missouri Assessed Value
$129,505
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Dexter, Missouri
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 63841 | $15,500 | $39,750 | $87,900 | $159,100 | $264,500 |
Source: Ownwell
Property Tax Bills Across Dexter, Missouri
In Dexter, located in Stoddard County, MO, property tax bills are calculated based on the assessed value of a home, which is determined by the county assessor. The tax bill is influenced by the assessed value and the local tax rate. For example, with a median home price of $87,900, the assessed value is a percentage of this market value. The tax rate is then applied to the assessed value to determine the final tax bill. Homeowners in Dexter can expect their property tax bills to vary significantly. The 25th percentile tax bill is around $380, while the 75th percentile tax bill is $1,413. At the 90th percentile, the tax bill can reach up to $2,357. These variations are due to differences in property values and specific local tax rates. Compared to the national median property tax rate of 0.99%, Dexter's property tax bills reflect a range of financial impacts on homeowners, influenced by the local real estate market and assessment practices.
Average Dexter Tax Bill
$821
Average Stoddard County Tax Bill
$758
Average Missouri Tax Bill
$1,606
Average United States Tax Bill
$2,690
Property Tax Bills Across Dexter, Missouri
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 63841 | $193 | $380 | $821 | $1,413 | $2,357 |
Source: Ownwell