South West City, Missouri Property Taxes
The median property tax rate in South West City, MO is 0.75%, considerably lower than both the national median of 0.99% and the Missouri state median of 1.20%. With the median home value in South West City at $59,050, the typical annual property tax bill reaches $425, significantly below the national median of $2,690. Property taxes in South West City are calculated based on the tax assessed value, which typically falls below the market value due to various exemptions like the primary residence and agricultural exemptions. Understanding South West City'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 South West City 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
South West City, Missouri Property Tax Bill Calculator
$100,000
$2,500,000
$5,000,000
Average Tax Rate
1.2%
Estimate Property Tax Bill
$2,400
Ownwell’s SOUTH WEST CITY Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in SOUTH WEST CITY with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in SOUTH WEST CITY 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 South West City, Missouri
Property taxes in South West City, Missouri, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in South West City is 0.75%, which is below both the Missouri state median and the U.S. national median of 0.99%. Local government entities within South West City set these rates annually, and they can vary significantly across different neighborhoods. Each year, South West City 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 South West City's effective property tax rate to other counties in Missouri and the national median. For comparison, the zip code 64863 has both the highest and lowest median property tax rate of 0.75%. Understanding how these cities compare with South West City provides valuable insights into the varying tax landscape across McDonald County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average South West City Tax Rate
0.75%
Average Mcdonald County Tax Rate
0.75%
Average Missouri Tax Rate
1.20%
Average United States Tax Rate
0.99%
Property Tax Rates Across South West City, Missouri
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 64863 | 0.67% | 0.74% | 0.75% | 0.75% | 0.75% |
Source: Ownwell
Property Tax Assessment Values Across South West City, Missouri
In South West City, 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 McDonald 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 South West City, 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 South West City helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. In South West City, the zip code 64863 has both the highest and lowest median tax bill, which is $425.
Property Tax Assessment Values Across South West City, Missouri
Source: Ownwell
$29,260
$70,300
$111,340
Average South West City Assessed Value
$59,050
Average Mcdonald County Assessed Value
$63,020
Average Missouri Assessed Value
$129,505
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across South West City, Missouri
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 64863 | $22,526 | $34,660 | $59,050 | $94,888 | $154,276 |
Source: Ownwell
Property Tax Bills Across South West City, Missouri
In South West City, located in McDonald County, MO, property tax bills are determined by assessing the value of your home and applying the local tax rate. The assessed value is a percentage of the market value of your property. Factors such as the property's location, size, and improvements can influence this assessed value. For instance, the median home price in South West City is $59,050. Tax bills can vary significantly within the city. The 25th percentile tax bill is around $252, while the 75th percentile tax bill reaches $671, and the 90th percentile can be as high as $1,102. This variability means that homeowners with similar market values might pay different amounts based on these assessments and applicable exemptions. Compared to the national median property tax rate of 0.99%, South West City homeowners may find their tax rates relatively manageable, but individual circumstances can lead to considerable differences in actual tax bills. This system ensures that property taxes are distributed fairly, reflecting the unique characteristics of each property.
Average South West City Tax Bill
$425
Average Mcdonald County Tax Bill
$473
Average Missouri Tax Bill
$1,606
Average United States Tax Bill
$2,690
Property Tax Bills Across South West City, Missouri
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 64863 | $165 | $252 | $425 | $671 | $1,102 |
Source: Ownwell