Eolia, Missouri Property Taxes
The median property tax rate in Eolia, MO, is 1.11%, slightly above the national median of 0.99% but below the Missouri state median of 1.20%. With the median home value in Eolia at $153,140, the typical annual property tax bill amounts to $1,582, which is lower than the national median of $2,690. Property taxes in Eolia are calculated based on the assessed value, often lower than the market value due to exemptions like the primary residence and agricultural exemptions. Understanding Eolia'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 Eolia or another part of Lincoln County, understanding the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Eolia, Missouri Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.11%
Estimate Property Tax Bill
$1,700
Ownwell’s Eolia Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Eolia with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Eolia 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 Eolia, Missouri
Property taxes in Eolia, Missouri, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Eolia is 1.11%, which is higher than both the Missouri state median and the U.S. national median of 0.99%. Local government entities within Eolia set these rates annually, and they can vary significantly across different neighborhoods. Each year, Eolia 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 Eolia's effective property tax rate to other areas in Missouri and the national median. For comparison, the zip code 63344 has the highest median property tax rate of 1.11%, while the same zip code also has the lowest median tax rate of 1.11%. Understanding how these cities compare with Eolia provides valuable insights into the varying tax landscape across Lincoln County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Eolia Tax Rate
1.11%
Average Lincoln County Tax Rate
1.17%
Average Missouri Tax Rate
1.20%
Average United States Tax Rate
0.99%
Property Tax Rates Across Eolia, Missouri
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 63344 | 0.90% | 1.00% | 1.11% | 1.14% | 1.17% |
Source: Ownwell
Property Tax Assessment Values Across Eolia, Missouri
In Eolia, 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 Lincoln 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 Eolia, 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. In Lincoln County, the zip code with the highest median tax bill is 63344, with a median tax bill of $1,582. By being aware of these valuation processes in Eolia, residents can identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Eolia Assessed Value
$153,140
Average Lincoln County Assessed Value
$149,220
Average Missouri Assessed Value
$129,505
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Eolia, Missouri
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 63344 | $25,036 | $72,415 | $153,140 | $223,585 | $273,718 |
Source: Ownwell
Property Tax Bills Across Eolia, Missouri
In Eolia, located in Lincoln County, MO, property tax bills are calculated based on the assessed value of a home. The assessed value is derived from the market value, which is then multiplied by an assessment ratio set by the state. This ratio ensures a consistent and fair tax calculation for all properties. Once the assessed value is determined, local tax rates, which vary by jurisdiction, are applied to calculate the final tax bill. Several factors influence the property tax bill, including property size, location, and any applicable exemptions or abatements. Homeowners in Eolia can expect a range of tax bills, with the 25th percentile at $758 and the 75th percentile at $2,414. For those at the higher end, the 90th percentile tax bill reaches $3,008. The median home price in Eolia is $153,140, which helps contextualize these figures. Compared to the national median property tax rate of 0.99%, Eolia's tax rates reflect the local economic environment and funding needs for public services, impacting homeowners' annual financial obligations.
Average Eolia Tax Bill
$1,582
Average Lincoln County Tax Bill
$1,734
Average Missouri Tax Bill
$1,606
Average United States Tax Bill
$2,690
Property Tax Bills Across Eolia, Missouri
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 63344 | $264 | $758 | $1,582 | $2,414 | $3,008 |
Source: Ownwell