Edgar Springs, Missouri Property Taxes
The median property tax rate in Edgar Springs, MO is 0.61%, significantly lower than both the national median of 0.99% and the Missouri state median of 1.20%. With the median home value in Edgar Springs, the typical annual property tax bill reaches $447, far below the national median of $2,690. Property taxes in Edgar Springs 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 Edgar Springs' property tax system, exploring available exemptions, and identifying opportunities for reductions can lead to significant annual savings. Whether you're in the heart of Edgar Springs 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
Edgar Springs, Missouri Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.61%
Estimate Property Tax Bill
$439
Ownwell’s EDGAR SPRINGS Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in EDGAR SPRINGS with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in EDGAR SPRINGS 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 Edgar Springs, Missouri
Property taxes in Edgar Springs, Missouri, play a crucial role in funding essential local services, including public schools, road maintenance, and emergency services. The median tax rate in Edgar Springs is 0.93%, which is lower than the Missouri state median of 0.97% but still below the U.S. national median of 0.99%. Local government entities within Edgar Springs set these rates annually, and they can vary significantly across different neighborhoods. Each year, Edgar Springs 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 Edgar Springs' effective property tax rate to other counties in Missouri and the national median. For comparison, the zip code 65462 has the highest median property tax rate of 0.93%, while the same zip code also has the lowest median tax rate of 0.93%. Understanding how these areas compare with Edgar Springs provides valuable insights into the varying tax landscape across Phelps County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Edgar Springs Tax Rate
0.61%
Average Texas County Tax Rate
0.70%
Average Missouri Tax Rate
1.20%
Average United States Tax Rate
0.99%
Property Tax Rates Across Edgar Springs, Missouri
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 65462 | 0.50% | 0.60% | 0.61% | 0.62% | 0.63% |
Source: Ownwell
Property Tax Assessment Values Across Edgar Springs, Missouri
In Edgar Springs, 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 Texas 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 Edgar Springs, 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 Edgar Springs helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The highest and lowest median tax bills in the area are both $447, found in the 65462 zip code.
Average Edgar Springs Assessed Value
$72,030
Average Texas County Assessed Value
$74,330
Average Missouri Assessed Value
$129,505
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Edgar Springs, Missouri
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 65462 | $16,676 | $39,050 | $72,030 | $117,820 | $133,336 |
Source: Ownwell
Property Tax Bills Across Edgar Springs, Missouri
In Edgar Springs, located in Texas County, MO, property tax bills are calculated based on the assessed value of a home. The assessed value is typically a percentage of the market value, which is determined by the local tax assessor. Homeowners in Edgar Springs can expect their property tax bills to be influenced by the median home price, which is $72,030. The property tax rate in this area is applied to the assessed value to determine the final tax bill. For instance, homeowners at the 25th percentile pay around $246 annually, while those at the 75th percentile face bills of approximately $721. The highest median tax bill recorded in the area is $447, corresponding to the zip code 65462. This rate is relatively lower compared to the national median property tax rate of 0.99%. These tax bills can significantly impact homeowners, influencing their annual budgeting and financial planning. Lower property taxes can make homeownership more affordable, while higher taxes might strain household finances.
Average Edgar Springs Tax Bill
$447
Average Texas County Tax Bill
$521
Average Missouri Tax Bill
$1,606
Average United States Tax Bill
$2,690
Property Tax Bills Across Edgar Springs, Missouri
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 65462 | $103 | $246 | $447 | $721 | $808 |
Source: Ownwell