Eldridge, Missouri Property Taxes
The median property tax rate in Eldridge, MO is 0.95%, slightly below the national median of 0.99% and significantly lower than the Missouri state median of 1.20%. With the median home value in Eldridge, the typical annual property tax bill amounts to $619, which is well below the national median of $2,690. Property taxes in Eldridge are calculated based on the tax assessed value, which often falls below the market value due to various exemptions such as primary residence and agricultural exemptions. Understanding Eldridge'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 Eldridge 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
Eldridge, 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 Eldridge Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Eldridge with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Eldridge 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 Eldridge, Missouri
Property taxes in Eldridge, Missouri, play a crucial role in funding essential local services like public schools, road maintenance, and emergency services. The median tax rate in Eldridge is 0.95%, which is slightly lower than the U.S. national median of 0.99%. Local government entities within Eldridge set these rates annually, and they can vary significantly across different neighborhoods. Each year, Eldridge 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 Eldridge's effective property tax rate to other counties in Missouri and the national median. For comparison, the zip code 65463 has the highest median property tax rate of 0.95%, while the same zip code also has the lowest median tax rate of 0.95%. Understanding how these cities compare with Eldridge provides valuable insights into the varying tax landscape across Laclede County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Eldridge Tax Rate
0.95%
Average Laclede County Tax Rate
1.10%
Average Missouri Tax Rate
1.20%
Average United States Tax Rate
0.99%
Property Tax Rates Across Eldridge, Missouri
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 65463 | 0.74% | 0.86% | 0.95% | 0.97% | 0.97% |
Source: Ownwell
Property Tax Assessment Values Across Eldridge, Missouri
In Eldridge, 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 Laclede 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 Eldridge, 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 Eldridge helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The zip code 65463 has the highest and lowest median tax bill, both at $619, reflecting the uniform tax environment in the area.
Average Eldridge Assessed Value
$69,200
Average Laclede County Assessed Value
$72,400
Average Missouri Assessed Value
$129,505
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Eldridge, Missouri
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 65463 | $18,000 | $32,700 | $69,200 | $106,300 | $161,700 |
Source: Ownwell
Property Tax Bills Across Eldridge, Missouri
In Eldridge, located in Laclede County, MO, property tax bills are calculated based on the assessed value of a home, which is a percentage of its market value. The median home price in Eldridge is $69,200. Local tax authorities determine the assessed value, and then apply the local tax rate to this value to calculate the tax bill. For example, the 25th percentile tax bill in Eldridge is $314, while the 75th percentile reaches $977, and the 90th percentile hits $1,451. Several factors influence the final tax bill, including the market value of the property, assessment ratios, and applicable tax rates. Homeowners in Eldridge find that their property taxes can significantly impact their annual budget, especially when compared to the national median property tax rate of 0.99%. Understanding how these elements interact is crucial for homeowners to anticipate their financial obligations and manage their finances effectively.
Average Eldridge Tax Bill
$619
Average Laclede County Tax Bill
$742
Average Missouri Tax Bill
$1,606
Average United States Tax Bill
$2,690
Property Tax Bills Across Eldridge, Missouri
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 65463 | $183 | $314 | $619 | $977 | $1,451 |
Source: Ownwell