Silex, Lincoln County, Missouri Property Taxes
The median property tax rate in Silex, MO is 1.00%, slightly higher than the national median of 0.99% but lower than the Missouri state median of 1.20%. With the median home value in Silex at $126,695, the typical annual property tax bill amounts to $1,294, which is below the national median of $2,690. Property taxes in Silex are calculated based on the tax assessed value, which is often lower than the market value due to exemptions like the primary residence and agricultural exemptions. Understanding Silex'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 Silex 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
Silex, Lincoln County, Missouri Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1%
Estimate Property Tax Bill
$1,267
$1,176
Ownwell’s Silex Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Silex with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Silex 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 Silex, Lincoln County, Missouri
Property taxes in Silex, Missouri, are essential for funding critical local services such as public schools, road maintenance, and emergency services. The median tax rate in Silex is 1.00%, which is higher than the U.S. national median of 0.99%. Local government entities within Silex set these rates annually, and they can vary significantly across different neighborhoods. Each year, Silex 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 Silex's effective property tax rate to other counties in Missouri and the national median. For comparison, the 63377 ZIP code has the highest median property tax rate of 1.00%, while the same ZIP code also has the lowest median tax rate of 1.00%. Understanding how these cities compare with Silex 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 Silex Tax Rate
1.00%
Average Lincoln County Tax Rate
1.17%
Average Missouri Tax Rate
1.20%
Average United States Tax Rate
0.99%
Property Tax Rates Across Silex, Lincoln County, Missouri
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 63377 | 0.89% | 0.96% | 1.00% | 1.08% | 1.17% |
Source: Ownwell
Property Tax Assessment Values Across Silex, Lincoln County, Missouri
Understanding the difference between "market value" and "assessed value" is crucial for comprehending property taxes in Silex, Missouri. 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 Silex, 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 Silex helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The zip code 63377 has the highest median tax bill at $1,294, which is above the national median property tax rate of 0.99%.
Property Tax Assessment Values Across Silex, Lincoln County, Missouri
Source: Ownwell
$21,050
$97,970
$174,890
Average Silex Assessed Value
$126,695
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 Silex, Lincoln County, Missouri
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 63377 | $17,754 | $55,390 | $126,695 | $211,208 | $282,431 |
Source: Ownwell
Property Tax Bills Across Silex, Lincoln County, Missouri
Property tax bills in Silex, located in Lincoln County, MO, are calculated based on the assessed value of a property, which is a percentage of its market value. Homeowners in Silex typically see a median property tax bill of $1,294, aligning with the national median property tax rate of 0.99%. The tax bill can vary significantly, with the 25th percentile paying around $559 and the 75th percentile paying up to $2,091. For those in the 90th percentile, the tax bill can reach as high as $2,819. Several factors contribute to the property tax bill, including the property's assessed value, local tax rates, and any applicable exemptions. The assessed value is determined by the county assessor and reflects a fraction of the market value. High property taxes can impact homeowners by increasing their annual expenses and potentially affecting the resale value of their homes. Understanding how these factors interplay helps homeowners better anticipate their yearly financial obligations.
Average Silex Tax Bill
$1,294
Average Lincoln County Tax Bill
$1,734
Average Missouri Tax Bill
$1,606
Average United States Tax Bill
$2,690
Property Tax Bills Across Silex, Lincoln County, Missouri
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 63377 | $179 | $559 | $1,294 | $2,091 | $2,819 |
Source: Ownwell