Excelsior Springs, Clay County, Missouri Property Taxes
The median property tax rate in Excelsior Springs, MO is 1.16%, slightly higher than the national median of 0.99% but below the Missouri state median of 1.20%. With a median home value of $146,000, the typical annual property tax bill in Excelsior Springs reaches $1,676, which is lower than the national median of $2,690. Property taxes here are calculated based on the tax assessed value, which often falls below the market value due to various exemptions like primary residence and agricultural exemptions. Understanding Excelsior 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 Excelsior 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
Excelsior Springs, Clay County, Missouri Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.16%
Estimate Property Tax Bill
$1,694
$1,572
Ownwell’s Excelsior Springs Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Excelsior Springs with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Excelsior 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 Excelsior Springs, Clay County, Missouri
Property taxes in Excelsior 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 Excelsior Springs is 1.16%, which is higher than the U.S. national median of 0.99%. Local government entities within Excelsior Springs set these rates annually, and they can vary significantly across different neighborhoods. Each year, Excelsior 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. Understanding how Excelsior Springs compares with other areas in Clay County and the national median provides valuable insights into the varying tax landscape, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Excelsior Springs Tax Rate
1.16%
Average Clay County Tax Rate
1.34%
Average Missouri Tax Rate
1.20%
Average United States Tax Rate
0.99%
Property Tax Rates Across Excelsior Springs, Clay County, Missouri
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 64024 | 1.05% | 1.12% | 1.16% | 1.19% | 1.23% |
Source: Ownwell
Property Tax Assessment Values Across Excelsior Springs, Clay County, Missouri
Understanding the difference between "market value" and "assessed value" is crucial for comprehending property taxes in Excelsior Springs, Missouri. 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 local 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 Excelsior 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. For example, the median home price in Excelsior Springs is $146,000. The highest and lowest median tax bills in the area are both $1,676, found in the 64024 zip code. 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 Excelsior Springs, Clay County, Missouri
Source: Ownwell
$62,552
$212,855
$363,158
Average Excelsior Springs Assessed Value
$146,000
Average Clay County Assessed Value
$203,105
Average Missouri Assessed Value
$129,505
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Excelsior Springs, Clay County, Missouri
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 64024 | $69,105 | $103,842 | $146,000 | $203,368 | $275,389 |
Source: Ownwell
Property Tax Bills Across Excelsior Springs, Clay County, Missouri
In Excelsior Springs, located in Clay County, MO, property tax bills are calculated based on the assessed value of your home, which is determined by the county assessor. The assessed value is a percentage of the market value of your property. The tax rate is then applied to this assessed value to determine your annual property tax bill. Various factors, including the size of the property, location, and any improvements made, can influence the assessed value. For homeowners in Excelsior Springs, the median home price is $146,000. Property tax bills can vary significantly, with the 25th percentile tax bill at $1,194 and the 75th percentile reaching $2,294. At the higher end, the 90th percentile tax bill is $3,109. The highest median tax bill in the area is $1,676, which is the same for both the highest and lowest median tax bills in the zip code 64024. Comparing this to the national median property tax rate of 0.99%, homeowners in Excelsior Springs may find their property tax rates competitive, but individual circumstances can lead to variations.
Average Excelsior Springs Tax Bill
$1,676
Average Clay County Tax Bill
$2,651
Average Missouri Tax Bill
$1,606
Average United States Tax Bill
$2,690
Property Tax Bills Across Excelsior Springs, Clay County, Missouri
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 64024 | $800 | $1,194 | $1,676 | $2,294 | $3,109 |
Source: Ownwell