Maywood, Marion County, Missouri Property Taxes
The median property tax rate in Maywood, MO is 0.99%, aligning with the national median of 0.99% but lower than the Missouri state median of 1.20%. With the median home value in Maywood at $97,425, the typical annual property tax bill is approximately $973, which is below the national median of $2,690. Property taxes in Maywood are calculated based on the assessed value, often lower than the market value due to exemptions like the 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, Marion County, Missouri Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.99%
Estimate Property Tax Bill
$965
$895
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, Marion County, Missouri
Property taxes in Maywood, Missouri, are crucial for funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Maywood is 0.99%, aligning exactly with 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 areas in Missouri and the national median. For comparison, the zip code 63454 has both the highest and lowest median property tax rate of 0.99%. Understanding how these areas compare with Maywood provides valuable insights into the varying tax landscape across Marion County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Maywood Tax Rate
0.99%
Average Marion County Tax Rate
1.02%
Average Missouri Tax Rate
1.20%
Average United States Tax Rate
0.99%
Property Tax Rates Across Maywood, Marion County, Missouri
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 63454 | 0.72% | 0.88% | 0.99% | 1.07% | 1.13% |
Source: Ownwell
Property Tax Assessment Values Across Maywood, Marion 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 Marion County Assessor's Office 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 median home price here is $97,425, with tax bills ranging from $462 at the 25th percentile to $2,030 at the 90th percentile. The zip code 63454 has the highest and lowest median tax bill of $973.
Property Tax Assessment Values Across Maywood, Marion County, Missouri
Source: Ownwell
$51,650
$96,190
$140,730
Average Maywood Assessed Value
$97,425
Average Marion County Assessed Value
$80,490
Average Missouri Assessed Value
$129,505
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Maywood, Marion County, Missouri
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 63454 | $24,479 | $49,212 | $97,425 | $141,600 | $197,440 |
Source: Ownwell
Property Tax Bills Across Maywood, Marion County, Missouri
In Maywood, located in Marion County, MO, property tax bills are determined by assessing the market value of a home and applying the local tax rate. The assessed value is a percentage of the market value, which is then multiplied by the tax rate to calculate the tax bill. Factors such as property improvements, neighborhood trends, and local government budgets can influence the assessed value. For homeowners in Maywood, the median home price is $97,425. Property tax bills can vary significantly, with the 25th percentile at $462 and the 75th percentile reaching $1,420. At the higher end, the 90th percentile tax bill is approximately $2,030. These figures illustrate the range of potential tax liabilities homeowners might face, depending on their property's assessed value and applicable exemptions. Compared to the national median property tax rate of 0.99%, Maywood's property taxes could be seen as relatively manageable, though individual circumstances will vary. Understanding these factors helps homeowners anticipate their financial responsibilities and plan accordingly.
Average Maywood Tax Bill
$973
Average Marion County Tax Bill
$807
Average Missouri Tax Bill
$1,606
Average United States Tax Bill
$2,690
Property Tax Bills Across Maywood, Marion County, Missouri
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 63454 | $185 | $462 | $973 | $1,420 | $2,030 |
Source: Ownwell