Eugene, Missouri Property Taxes
The median property tax rate in Eugene, MO is 0.88%, which is lower than both the national median of 0.99% and Missouri's state median of 1.20%. With a median home value of $135,700 in Eugene, the typical annual property tax bill is around $1,161, significantly below the national median of $2,690. Property taxes in Eugene are calculated based on the assessed value, which often falls below the market value due to exemptions like the primary residence and agricultural exemptions. Understanding Eugene'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 Eugene or another part of the city, grasping the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Eugene, 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 Eugene Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Eugene with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Eugene 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 Eugene, Missouri
Property taxes in Eugene, Missouri, are crucial for funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Eugene is 0.88%, which is lower than the U.S. national median of 0.99%. Local government entities within Eugene set these rates annually, and they can vary significantly across different neighborhoods. Each year, Eugene 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 Eugene's effective property tax rate to other counties in Missouri and the national median. For comparison, the 65032 zip code has both the highest and lowest median property tax rate of 0.88%. Understanding how these cities compare with Eugene provides valuable insights into the varying tax landscape across Cole County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Eugene Tax Rate
0.88%
Average Cole County Tax Rate
1.08%
Average Missouri Tax Rate
1.20%
Average United States Tax Rate
0.99%
Property Tax Rates Across Eugene, Missouri
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 65032 | 0.84% | 0.87% | 0.88% | 0.88% | 0.92% |
Source: Ownwell
Property Tax Assessment Values Across Eugene, Missouri
In Eugene, 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 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 Eugene, 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 Eugene helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. In Eugene, the highest median tax bill is $1,161 in the 65032 zip code, which is also the lowest median tax bill.
Average Eugene Assessed Value
$135,700
Average Cole County Assessed Value
$135,700
Average Missouri Assessed Value
$129,505
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Eugene, Missouri
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 65032 | $24,060 | $76,550 | $135,700 | $186,600 | $276,920 |
Source: Ownwell
Property Tax Bills Across Eugene, Missouri
In Eugene, Cole County, MO, property tax bills are calculated based on the assessed value of a home, which is determined by the county assessor. This assessed value is a percentage of the home's market value, and in Missouri, it typically stands at 19% for residential properties. The tax rate is then applied to this assessed value to determine the annual tax bill. Several factors influence the final tax bill, including the home's assessed value, local tax rates, and any applicable exemptions or deductions. For example, the median home price in Eugene is $135,700, and the tax bills can range significantly. Homeowners at the 25th percentile pay around $646, while those at the 75th percentile face bills of about $1,616. At the 90th percentile, the tax bill can rise to approximately $2,409. This variability in tax bills can significantly impact homeowners, influencing their overall housing costs and financial planning. Understanding these factors is crucial for homeowners to anticipate their property tax obligations accurately.
Average Eugene Tax Bill
$1,161
Average Cole County Tax Bill
$1,444
Average Missouri Tax Bill
$1,606
Average United States Tax Bill
$2,690
Property Tax Bills Across Eugene, Missouri
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 65032 | $206 | $646 | $1,161 | $1,616 | $2,409 |
Source: Ownwell