Maywood, Lewis County, Missouri Property Taxes
The median property tax rate in Maywood, MO is 1.15%, slightly above the national median of 0.99% but below the Missouri state median of 1.20%. With the median home value in Maywood at $35,810, the typical annual property tax bill amounts to $401, which is significantly lower than the national median of $2,690. Property taxes in Maywood are calculated based on the tax assessed value, which is often lower than the market value due to various exemptions such as primary residence and agricultural exemptions. Understanding Maywood'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 Maywood 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
Maywood, Lewis County, Missouri Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.15%
Estimate Property Tax Bill
$412
$382
Ownwell’s Maywood Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Maywood with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Maywood 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 Maywood, Lewis County, Missouri
Property taxes in Maywood, Missouri, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Maywood is 1.15%, higher than both the Missouri state median and the U.S. national median of 0.99%. Local government entities within Maywood set these rates annually, and they can vary significantly across different neighborhoods. Each year, Maywood 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 Maywood's effective property tax rate to other counties in Missouri and the national median. For comparison, the 63454 zip code has the highest median property tax rate of 1.15%, while the 63454 zip code also has the lowest median tax rate of 1.15%. Understanding how these cities compare with Maywood provides valuable insights into the varying tax landscape across Lewis County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Maywood Tax Rate
1.15%
Average Lewis County Tax Rate
1.06%
Average Missouri Tax Rate
1.20%
Average United States Tax Rate
0.99%
Property Tax Rates Across Maywood, Lewis County, Missouri
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 63454 | 0.92% | 1.06% | 1.15% | 1.16% | 1.16% |
Source: Ownwell
Property Tax Assessment Values Across Maywood, Lewis County, Missouri
In Maywood, 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 Maywood, 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 Maywood helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The zip code with the highest median tax bill is 63454, with a median tax bill of $401, which is the same for the lowest.
Property Tax Assessment Values Across Maywood, Lewis County, Missouri
Source: Ownwell
$33,140
$43,940
$54,740
Average Maywood Assessed Value
$35,810
Average Lewis County Assessed Value
$40,000
Average Missouri Assessed Value
$129,505
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Maywood, Lewis County, Missouri
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 63454 | $18,553 | $24,560 | $35,810 | $55,158 | $78,405 |
Source: Ownwell
Property Tax Bills Across Maywood, Lewis County, Missouri
Property tax bills in Maywood, located in Lewis County, MO, are calculated based on the assessed value of a property and the local tax rate. The assessed value is a percentage of the property's market value, which is determined by local assessors. Various factors, such as property size, location, and improvements, influence this assessment. In Maywood, the median home price is $35,810, and the property tax rate is applied to this assessed value to determine the tax bill. Homeowners in Maywood can expect property tax bills to vary significantly. For instance, the 25th percentile tax bill is $262, while the 75th percentile tax bill reaches $583. The 90th percentile tax bill is even higher at $887. These property tax bills can impact homeowners by affecting their monthly housing costs and overall financial planning. Compared to the national median property tax rate of 0.99%, Maywood's property tax bills offer a unique perspective on how local assessments and tax rates can influence the financial landscape for residents.
Average Maywood Tax Bill
$401
Average Lewis County Tax Bill
$410
Average Missouri Tax Bill
$1,606
Average United States Tax Bill
$2,690
Property Tax Bills Across Maywood, Lewis County, Missouri
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 63454 | $201 | $262 | $401 | $583 | $887 |
Source: Ownwell