De Soto, Missouri Property Taxes
The median property tax rate in De Soto, MO is 1.26%, which is higher than both the national median of 0.99% and Missouri's state median of 1.20%. With a median home value of $104,700 in De Soto, the typical annual property tax bill amounts to $1,306, surpassing the national median of $2,690. Property taxes in De Soto are calculated based on the assessed value, which generally falls below the market value due to exemptions like the primary residence and agricultural exemptions. Understanding De Soto'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 De Soto or another part of Jefferson County, understanding the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
De Soto, Missouri Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.26%
Estimate Property Tax Bill
$1,319
Ownwell’s DE SOTO Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in DE SOTO with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in DE SOTO 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 De Soto, Missouri
Property taxes in De Soto, Missouri, are vital in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in De Soto is 1.26%, higher than both the Missouri state median and the U.S. national median of 0.99%. Local government entities within De Soto set these rates annually, and they can vary significantly across different neighborhoods. Each year, De Soto 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 De Soto's effective property tax rate to other counties in Missouri and the national median. For comparison, the 63020 zip code has the highest median property tax rate of 1.26%, while the same zip code also has the lowest median tax rate of 1.26%. Understanding how these cities compare with De Soto provides valuable insights into the varying tax landscape across Jefferson County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average De Soto Tax Rate
1.26%
Average Jefferson County Tax Rate
1.33%
Average Missouri Tax Rate
1.20%
Average United States Tax Rate
0.99%
Property Tax Rates Across De Soto, Missouri
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 63020 | 1.17% | 1.22% | 1.26% | 1.31% | 1.35% |
Source: Ownwell
Property Tax Assessment Values Across De Soto, Missouri
In De Soto, 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 Jefferson 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 De Soto, 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 De Soto helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The highest and lowest median tax bills in the area are both $1,306, found in the 63020 zip code.
Average De Soto Assessed Value
$104,700
Average Jefferson County Assessed Value
$133,600
Average Missouri Assessed Value
$129,505
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across De Soto, Missouri
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 63020 | $49,700 | $72,000 | $104,700 | $156,100 | $208,800 |
Source: Ownwell
Property Tax Bills Across De Soto, Missouri
In De Soto, located in Jefferson 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. Homeowners in De Soto face property tax rates that can significantly impact their annual expenses. The median home price in De Soto is $104,700, and the property tax bill varies across different percentiles. For instance, the 25th percentile tax bill is $886, while the 75th percentile tax bill reaches $1,950. At the 90th percentile, homeowners can expect to pay around $2,573. These tax bills are influenced by the local tax rate and the assessed value of the property. The highest median tax bill in the area is $1,306, found in the 63020 zip code, which is the same as the lowest median tax bill, indicating a consistent tax rate within this region. Compared to the national median property tax rate of 0.99%, De Soto's property taxes can be a considerable factor for homeowners when budgeting their annual expenses.
Average De Soto Tax Bill
$1,306
Average Jefferson County Tax Bill
$1,729
Average Missouri Tax Bill
$1,606
Average United States Tax Bill
$2,690
Property Tax Bills Across De Soto, Missouri
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 63020 | $602 | $886 | $1,306 | $1,950 | $2,573 |
Source: Ownwell