Deerfield, Missouri Property Taxes
The median property tax rate in Deerfield, Missouri is 0.98%, slightly below the national median of 0.99% and significantly lower than Missouri's state median of 1.20%. With a median home value of $40,660 in Deerfield, the typical annual property tax bill amounts to $398, which is well below the national median of $2,690. Property taxes in Deerfield are calculated based on the tax assessed value, often lower than the market value due to various exemptions such as those for primary residences and agricultural properties. Understanding Deerfield'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 Deerfield or another part of Vernon County, familiarizing yourself with the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Deerfield, Missouri Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.98%
Estimate Property Tax Bill
$398
Ownwell’s Deerfield Property Tax Bill Calculator empowers homeowners, real estate investors, and potential buyers to estimate their annual property taxes in Deerfield with just two simple data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Deerfield to provide an accurate estimate of your property tax bill. This valuable tool helps you understand potential tax liabilities and make informed financial decisions. For those interested in more detailed trends at a neighborhood level, additional localized information is available below. Your property’s assessed value is determined by the county for property tax calculations, taking into account any applicable exemptions.
Property Tax Rates Across Deerfield, Missouri
Property taxes in Deerfield, Missouri, are crucial for funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Deerfield is 0.98%, slightly lower than the U.S. national median of 0.99%. Local government entities within Deerfield set these rates annually, and they can vary significantly across different neighborhoods. Each year, Deerfield 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 Deerfield's effective property tax rate to other areas in Vernon County and the national median. For comparison, the zip code 64741 has both the highest and lowest median property tax rate of 0.98%. Understanding how these cities compare with Deerfield provides valuable insights into the varying tax landscape across Vernon County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Deerfield Tax Rate
0.98%
Average Vernon County Tax Rate
1.01%
Average Missouri Tax Rate
1.20%
Average United States Tax Rate
0.99%
Property Tax Rates Across Deerfield, Missouri
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 64741 | 0.68% | 0.76% | 0.98% | 1.05% | 1.09% |
Source: Ownwell
Property Tax Assessment Values Across Deerfield, Missouri
In Deerfield, 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 Vernon 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 Deerfield, 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 Deerfield helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. In Deerfield, the highest and lowest median tax bills are both $398.00, found in the zip code 64741.
Average Deerfield Assessed Value
$40,660
Average Vernon County Assessed Value
$51,890
Average Missouri Assessed Value
$129,505
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Deerfield, Missouri
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 64741 | $4,078 | $14,615 | $40,660 | $87,725 | $129,426 |
Source: Ownwell
Property Tax Bills Across Deerfield, Missouri
In Deerfield, MO, property tax bills are calculated based on the assessed value of a home, which is a percentage of its market value. The local tax rate is then applied to this assessed value to determine the annual tax bill. Several factors influence the tax bill, including the property's location within Vernon County, the home's assessed value, and any applicable exemptions or deductions. For instance, the median home price in Deerfield is $40,660. Homeowners in the 25th percentile pay around $113 in property taxes, while those in the 75th percentile pay approximately $799. At the 90th percentile, the tax bill can reach up to $1,254. Comparatively, the highest median tax bill in a nearby zip code is $398. This variability in tax bills highlights the importance of understanding the assessed value and tax rate applied to your property. Homeowners in Deerfield may find their property taxes relatively manageable compared to the national median property tax rate of 0.99%, but it's crucial to stay informed about local tax policies and potential exemptions to optimize their tax situation.
Average Deerfield Tax Bill
$398
Average Vernon County Tax Bill
$536
Average Missouri Tax Bill
$1,606
Average United States Tax Bill
$2,690
Property Tax Bills Across Deerfield, Missouri
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 64741 | $35 | $113 | $398 | $799 | $1,254 |
Source: Ownwell