Edina, Knox County, Missouri Property Taxes
The median property tax rate in Edina, MO is 0.92%, which is lower than both the national median of 0.99% and the Missouri state median of 1.20%. With a median home value of $36,320 in Edina, the typical annual property tax bill is $330, significantly below the national median of $2,690. Property taxes in Edina are calculated based on the tax assessed value, which is often less than the market value due to various exemptions such as those for primary residences and agricultural properties. Understanding Edina's property tax system, exploring available exemptions, and seeking opportunities for reductions can lead to substantial annual savings. Whether you're in the heart of Edina or another part of Knox County, gaining insight into the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Edina, Knox County, Missouri Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.92%
Estimate Property Tax Bill
$334
$310
Ownwell’s Edina Property Tax Bill Calculator is an essential tool for homeowners, real estate investors, and potential buyers to estimate their annual property taxes in Edina with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Edina to provide an estimate of your property tax bill. This valuable tool helps you understand potential tax liabilities. For those interested in exploring trends at a neighborhood level, more localized information is available by scrolling down. Your property’s assessed value is the value assigned by the county for property tax calculations, taking into account any applicable exemptions.
Property Tax Rates Across Edina, Knox County, Missouri
Property taxes in Edina, Missouri, are vital in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Edina is 0.92%, slightly lower than the U.S. national median of 0.99%. Local government entities within Edina set these rates annually, and they can vary significantly across different neighborhoods. Each year, Edina 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 Edina's effective property tax rate to other areas and the national median. For comparison, the zip code 63537 has both the highest and lowest median property tax rate of 0.92%. Understanding how these cities compare with Edina provides valuable insights into the varying tax landscape across Knox County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Edina Tax Rate
0.92%
Average Knox County Tax Rate
0.72%
Average Missouri Tax Rate
1.20%
Average United States Tax Rate
0.99%
Property Tax Rates Across Edina, Knox County, Missouri
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 63537 | 0.69% | 0.69% | 0.92% | 1.10% | 1.10% |
Source: Ownwell
Property Tax Assessment Values Across Edina, Knox County, Missouri
In Edina, 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 Knox 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 Edina, 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 Edina helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The zip code with the highest and lowest median tax bill is 63537, both at $330.
Property Tax Assessment Values Across Edina, Knox County, Missouri
Source: Ownwell
$20,440
$28,380
$36,320
Average Edina Assessed Value
$36,320
Average Knox County Assessed Value
$29,820
Average Missouri Assessed Value
$129,505
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Edina, Knox County, Missouri
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 63537 | $5,374 | $15,490 | $36,320 | $68,760 | $119,314 |
Source: Ownwell
Property Tax Bills Across Edina, Knox County, Missouri
In Edina, located in Knox County, MO, property tax bills are calculated based on the assessed value of a home, which is a percentage of its market value. For homeowners in Edina, the median home price is $36,320. 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 property's location, improvements, and any applicable exemptions. In Edina, the property tax bill ranges significantly, with the 25th percentile at $130 and the 75th percentile at $665. At the 90th percentile, homeowners can expect to pay around $1,142. Comparatively, the highest and lowest median tax bills in the area are both $330, which is considerably lower than the national median property tax rate of 0.99%. This relatively low property tax burden can be beneficial for homeowners, potentially making Edina an attractive place for those looking to manage their housing costs effectively.
Average Edina Tax Bill
$330
Average Knox County Tax Bill
$245
Average Missouri Tax Bill
$1,606
Average United States Tax Bill
$2,690
Property Tax Bills Across Edina, Knox County, Missouri
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 63537 | $40 | $130 | $330 | $665 | $1,142 |
Source: Ownwell