El Dorado Springs, Missouri Property Taxes
The median property tax rate in El Dorado Springs, MO is 1.17%, which is higher than the national median of 0.99% but slightly below Missouri's state median of 1.20%. With a median home value of $31,670 in El Dorado Springs, the typical annual property tax bill amounts to $339, significantly lower than the national median of $2,690. Property taxes here are calculated based on the tax assessed value, which is often less than the market value due to exemptions such as those for primary residences and agricultural properties. By understanding El Dorado Springs' property tax system, exploring available exemptions, and identifying opportunities for reductions, homeowners and real estate investors can achieve substantial annual savings. Whether you're in the heart of El Dorado Springs or another part of the city, a thorough grasp of the local property tax system will offer financial benefits.
Last Updated June 14, 2024
El Dorado Springs, Missouri Property Tax Bill Calculator
$100,000
$2,500,000
$5,000,000
Average Tax Rate
1.2%
Estimate Property Tax Bill
$2,400
Ownwell’s El Dorado Springs Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in El Dorado Springs with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in El Dorado 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 El Dorado Springs, Missouri
Property taxes in El Dorado Springs, Missouri, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in El Dorado Springs is 1.17%, significantly higher than both the Missouri state median and the U.S. national median of 0.99%. Local government entities within El Dorado Springs set these rates annually, and they can vary significantly across different neighborhoods. Each year, El Dorado 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 El Dorado Springs' effective property tax rate to other counties in Missouri and the national median. For comparison, the 64744 zip code has the highest median property tax rate of 1.17%, while the same zip code also has the lowest median tax rate of 1.17%. Understanding how these cities compare with El Dorado Springs provides valuable insights into the varying tax landscape across Cedar County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average El Dorado Springs Tax Rate
1.17%
Average Cedar County Tax Rate
0.92%
Average Missouri Tax Rate
1.20%
Average United States Tax Rate
0.99%
Property Tax Rates Across El Dorado Springs, Missouri
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 64744 | 0.78% | 0.94% | 1.17% | 1.17% | 1.18% |
Source: Ownwell
Property Tax Assessment Values Across El Dorado Springs, Missouri
In El Dorado 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 Cedar 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 El Dorado 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. The median home price in El Dorado Springs is $31,670, with tax bills ranging from $187 at the 25th percentile to $1,325 at the 90th percentile. The highest and lowest median tax bills are both $339, found in zip code 64744. Being aware of these valuation processes helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Property Tax Assessment Values Across El Dorado Springs, Missouri
Source: Ownwell
$31,670
$66,605
$101,540
Average El Dorado Springs Assessed Value
$31,670
Average Cedar County Assessed Value
$37,145
Average Missouri Assessed Value
$129,505
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across El Dorado Springs, Missouri
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 64744 | $10,062 | $17,110 | $31,670 | $58,030 | $145,486 |
Source: Ownwell
Property Tax Bills Across El Dorado Springs, Missouri
In El Dorado Springs, Cedar County, MO, property tax bills are calculated based on the assessed value of a property, which is determined by the county assessor. This assessed value is a percentage of the property's market value. The local tax rate, also known as the mill rate, is then applied to this assessed value to calculate the tax bill. For homeowners in El Dorado Springs, the median home price stands at $31,670. The property tax bills vary significantly, with the 25th percentile tax bill at $187 and the 75th percentile at $586. At the 90th percentile, homeowners might see tax bills as high as $1,325. Notably, the highest median tax bill in the area is $339, which aligns with the national median property tax rate of 0.99%. These property taxes fund essential local services such as schools, public safety, and infrastructure, directly impacting the quality of life for residents. Therefore, understanding how these taxes are calculated helps homeowners anticipate their financial obligations and the benefits they receive in return.
Average El Dorado Springs Tax Bill
$339
Average Cedar County Tax Bill
$344
Average Missouri Tax Bill
$1,606
Average United States Tax Bill
$2,690
Property Tax Bills Across El Dorado Springs, Missouri
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 64744 | $109 | $187 | $339 | $586 | $1,325 |
Source: Ownwell