Burfordville, Missouri Property Taxes
The median property tax rate in Burfordville, MO is 0.88%, which is lower than both the national median of 0.99% and the Missouri state median of 1.20%. With the median home value in Burfordville at $85,282, the typical annual property tax bill is around $748, significantly less than the national median of $2,690. Property taxes in Burfordville 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 Burfordville's property tax system, exploring available exemptions, and identifying opportunities for reductions can result in substantial annual savings. Whether you're in the heart of Burfordville or another part of Cape Girardeau County, grasping the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Burfordville, Missouri Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.88%
Estimate Property Tax Bill
$750
Ownwell’s Burfordville Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Burfordville with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Burfordville 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 Burfordville, Missouri
Property taxes in Burfordville, Missouri, are crucial for funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Burfordville is 0.88%, which is slightly below the U.S. national median of 0.99%. Local government entities within Burfordville set these rates annually, and they can vary significantly across different neighborhoods. Each year, Burfordville 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 Burfordville's effective property tax rate to other areas in Missouri and the national median. For comparison, the zip code 63739 has the highest median property tax rate of 0.88%, while the same zip code also represents the lowest median tax rate of 0.88%. Understanding how these areas compare with Burfordville provides valuable insights into the varying tax landscape across Cape Girardeau County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Burfordville Tax Rate
0.88%
Average Cape Girardeau County Tax Rate
0.97%
Average Missouri Tax Rate
1.20%
Average United States Tax Rate
0.99%
Property Tax Rates Across Burfordville, Missouri
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 63739 | 0.77% | 0.86% | 0.88% | 0.88% | 0.88% |
Source: Ownwell
Property Tax Assessment Values Across Burfordville, Missouri
In Burfordville, 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 Cape Girardeau 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 Burfordville, 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. For example, homes in the 63739 zip code have a median tax bill of $748. 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 Burfordville helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Burfordville Assessed Value
$85,282
Average Cape Girardeau County Assessed Value
$116,512
Average Missouri Assessed Value
$129,505
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Burfordville, Missouri
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 63739 | $26,338 | $45,565 | $85,282 | $127,942 | $196,476 |
Source: Ownwell
Property Tax Bills Across Burfordville, Missouri
In Burfordville, Cape Girardeau County, MO, property tax bills are calculated based on the assessed value of a property, which is determined by local assessors. The assessed value is a percentage of the property's market value. Homeowners in Burfordville typically see property tax bills that vary significantly depending on their property's assessed value. For instance, the tax bill at the 25th percentile is around $397, while the 75th percentile tax bill reaches $1,076, and the 90th percentile can be as high as $1,655. The median home price in Burfordville is $85,282, and the county's median tax bill stands at $748, which is relatively low compared to the national median property tax rate of 0.99%. This lower tax burden can be beneficial for homeowners, making it more affordable to maintain property ownership. However, it is essential for homeowners to stay informed about their property's assessed value and any changes in tax rates to manage their financial planning effectively.
Average Burfordville Tax Bill
$748
Average Cape Girardeau County Tax Bill
$1,109
Average Missouri Tax Bill
$1,606
Average United States Tax Bill
$2,690
Property Tax Bills Across Burfordville, Missouri
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 63739 | $228 | $397 | $748 | $1,076 | $1,655 |
Source: Ownwell