Meadville, Linn County, Missouri Property Taxes
The median property tax rate in Meadville, MO is 1.05%, slightly above the national median of 0.99% but below the Missouri state median of 1.20%. With a median home value of $49,500 in Meadville, the typical annual property tax bill amounts to $562, which is significantly lower than the national median of $2,690. Property taxes in Meadville are calculated based on the tax assessed value, often lower than the market value due to exemptions like the primary residence and agricultural exemptions. Understanding Meadville'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 Meadville 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
Meadville, Linn County, Missouri Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.05%
Estimate Property Tax Bill
$520
$482
Ownwell’s Meadville Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Meadville with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Meadville 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 Meadville, Linn County, Missouri
Property taxes in Meadville, Missouri, are essential for funding critical local services such as public schools, road maintenance, and emergency services. The median tax rate in Meadville is 1.05%, which is higher than the U.S. national median of 0.99%. Local government entities within Meadville set these rates annually, and they can vary significantly across different neighborhoods. Each year, Meadville 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 Meadville's effective property tax rate to other counties in Missouri and the national median. For comparison, the zip code 64659 has the highest median property tax rate of 1.05%, while the same zip code also has the lowest median tax rate of 1.05%. Understanding how these cities compare with Meadville provides valuable insights into the varying tax landscape across Linn County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Meadville Tax Rate
1.05%
Average Linn County Tax Rate
1.13%
Average Missouri Tax Rate
1.20%
Average United States Tax Rate
0.99%
Property Tax Rates Across Meadville, Linn County, Missouri
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 64659 | 0.80% | 0.84% | 1.05% | 1.27% | 1.34% |
Source: Ownwell
Property Tax Assessment Values Across Meadville, Linn County, Missouri
In Meadville, 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 Linn 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 Meadville, 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. For instance, the zip code 64659 has the highest median tax bill at $562, while the lowest median tax bill is also $562. Being aware of these valuation processes in Meadville helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Property Tax Assessment Values Across Meadville, Linn County, Missouri
Source: Ownwell
$9,900
$40,150
$70,400
Average Meadville Assessed Value
$49,500
Average Linn County Assessed Value
$25,200
Average Missouri Assessed Value
$129,505
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Meadville, Linn County, Missouri
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 64659 | $4,240 | $19,100 | $49,500 | $105,900 | $180,100 |
Source: Ownwell
Property Tax Bills Across Meadville, Linn County, Missouri
In Meadville, located in Linn County, MO, property tax bills are calculated based on the assessed value of a home. The assessment process involves evaluating the market value of a property and then applying the local assessment ratio to determine the assessed value. This assessed value is then multiplied by the local tax rate to calculate the annual property tax bill. For homeowners in Meadville, several factors influence the final tax bill, including the market value of their property, local tax rates, and any applicable exemptions. For example, the median home price in Meadville is $49,500. Property tax bills can vary significantly, with the 25th percentile at $188 and the 75th percentile reaching $1,068. The highest median tax bill recorded is $562 in the 64659 zip code. These property tax bills can have a substantial impact on homeowners, affecting their annual budget and potentially influencing decisions about property ownership and investment. Understanding these factors can help homeowners better anticipate their financial obligations.
Average Meadville Tax Bill
$562
Average Linn County Tax Bill
$264
Average Missouri Tax Bill
$1,606
Average United States Tax Bill
$2,690
Property Tax Bills Across Meadville, Linn County, Missouri
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 64659 | $51 | $188 | $562 | $1,068 | $1,916 |
Source: Ownwell