Mercer, Mercer County, Missouri Property Taxes
The median property tax rate in Mercer, MO is 1.38%, considerably higher than both the national median of 0.99% and the Missouri state median of 1.20%. With the median home value in Mercer at $37,908, the typical annual property tax bill reaches $453, which is significantly lower than the national median of $2,690. Property taxes in Mercer 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 Mercer’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 Mercer 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
Mercer, Mercer County, Missouri Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.38%
Estimate Property Tax Bill
$523
$485
Ownwell’s Mercer Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Mercer with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Mercer 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 Mercer, Mercer County, Missouri
Property taxes in Mercer, Missouri, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Mercer is 1.38%, significantly higher than both the Missouri state median and the U.S. national median of 0.99%. Local government entities within Mercer set these rates annually, and they can vary significantly across different neighborhoods. Each year, Mercer 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 Mercer's effective property tax rate to other counties in Missouri and the national median. For comparison, the zip code 64661 has the highest median property tax rate of 1.38%, while zip code 64673 has the lowest median tax rate of 0.92%. Understanding how these areas compare with Mercer provides valuable insights into the varying tax landscape across Mercer County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Mercer Tax Rate
1.38%
Average Mercer County Tax Rate
1.37%
Average Missouri Tax Rate
1.20%
Average United States Tax Rate
0.99%
Property Tax Rates Across Mercer, Mercer County, Missouri
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 64661 | 0.89% | 1.13% | 1.38% | 1.39% | 1.39% |
| 64673 | N/A | N/A | N/A | N/A | N/A |
Source: Ownwell
Property Tax Assessment Values Across Mercer, Mercer County, Missouri
In Mercer, 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 local appraisal district 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. Assessment notices in Mercer 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 Mercer helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. For instance, the highest median tax bill is found in the 64661 zip code at $454, while the lowest is in the 64673 zip code at $157.
Property Tax Assessment Values Across Mercer, Mercer County, Missouri
Source: Ownwell
$37,966
$45,665
$53,363
Average Mercer Assessed Value
$37,908
Average Mercer County Assessed Value
$30,001
Average Missouri Assessed Value
$129,505
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Mercer, Mercer County, Missouri
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 64661 | $3,618 | $13,948 | $37,966 | $70,834 | $135,632 |
| 64673 | N/A | N/A | N/A | N/A | N/A |
Source: Ownwell
Property Tax Bills Across Mercer, Mercer County, Missouri
In Mercer, MO, property tax bills are calculated based on the assessed value of a home, which is typically a percentage of its market value. The assessed value is then multiplied by the local tax rate to determine the annual tax bill. For example, with a median home price of $37,908, homeowners can expect varying tax bills depending on their property's assessed value and the specific tax rate applied. Several factors influence the final tax bill, including local government budgets, school funding needs, and municipal services. In Mercer, the tax bill ranges significantly, from the 25th percentile at $181 to the 90th percentile at $1,726, reflecting disparities in property values and tax rates. The highest median tax bill in the county is $454, found in the zip code 64661, while the lowest is $157 in the zip code 64673. These property taxes significantly impact homeowners by contributing to local infrastructure, schools, and public services, ensuring that the community remains well-maintained and functional.
Average Mercer Tax Bill
$453
Average Mercer County Tax Bill
$364
Average Missouri Tax Bill
$1,606
Average United States Tax Bill
$2,690
Property Tax Bills Across Mercer, Mercer County, Missouri
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 64661 | $53 | $181 | $454 | $869 | $1,727 |
| 64673 | N/A | N/A | N/A | N/A | N/A |
Source: Ownwell