East Lynne, Missouri Property Taxes
The median property tax rate in East Lynne, MO is 1.55%, significantly higher than both the national median of 0.99% and Missouri's state median of 1.20%. With a median home value of $75,540 in East Lynne, the typical annual property tax bill amounts to $1,172, surpassing the national median of $2,690. Property taxes in East Lynne 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 East Lynne'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 East Lynne or another part of the city, comprehending the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
East Lynne, Missouri Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.55%
Estimate Property Tax Bill
$1,171
Ownwell’s East Lynne Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in East Lynne with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in East Lynne 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 East Lynne, Missouri
Property taxes in East Lynne, Missouri, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in East Lynne is 1.55%, significantly higher than both the Missouri state median and the U.S. national median of 0.99%. Local government entities within East Lynne set these rates annually, and they can vary significantly across different neighborhoods. Each year, East Lynne 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 East Lynne's effective property tax rate to other areas in Missouri and the national median. For comparison, the zip code 64743 in East Lynne has both the highest and lowest median property tax rate of 1.55%. Understanding how these figures compare with East Lynne provides valuable insights into the varying tax landscape across Cass County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average East Lynne Tax Rate
1.55%
Average Cass County Tax Rate
1.46%
Average Missouri Tax Rate
1.20%
Average United States Tax Rate
0.99%
Property Tax Rates Across East Lynne, Missouri
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 64743 | 1.55% | 1.55% | 1.55% | 1.55% | 1.55% |
Source: Ownwell
Property Tax Assessment Values Across East Lynne, Missouri
In East Lynne, 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 Cass 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 East Lynne, 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 East Lynne helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The highest median tax bill in the area is $1,172 in the 64743 zip code, while the lowest median tax bill is also $1,172 in the same zip code.
Average East Lynne Assessed Value
$75,540
Average Cass County Assessed Value
$149,060
Average Missouri Assessed Value
$129,505
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across East Lynne, Missouri
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 64743 | $27,230 | $45,700 | $75,540 | $93,660 | $114,760 |
Source: Ownwell
Property Tax Bills Across East Lynne, Missouri
In East Lynne, property tax bills are calculated based on the assessed value of a home, which is a percentage of its market value. Homeowners in this region of Cass County can expect their tax bills to vary depending on several factors, such as the assessed value, local tax rates, and any applicable exemptions. The median home price in East Lynne is $75,540, and the property tax rate is influenced by this valuation. For example, the 25th percentile tax bill is approximately $720, while the 75th percentile tax bill reaches around $1,450. At the 90th percentile, homeowners might see tax bills as high as $1,735. These figures indicate that property tax bills can significantly impact homeowners, with higher-valued properties facing steeper taxes. Comparatively, the national median property tax rate is 0.99%, which provides some context for understanding local tax burdens. Homeowners in East Lynne should be aware of these factors as they directly influence their annual property tax obligations.
Average East Lynne Tax Bill
$1,172
Average Cass County Tax Bill
$2,217
Average Missouri Tax Bill
$1,606
Average United States Tax Bill
$2,690
Property Tax Bills Across East Lynne, Missouri
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 64743 | $423 | $720 | $1,172 | $1,450 | $1,735 |
Source: Ownwell