Charleston, Missouri Property Taxes
The median property tax rate in Charleston, MO is 1.02%, slightly above the national median of 0.99% but lower than the Missouri state median of 1.20%. With a median home value of $41,400 in Charleston, the typical annual property tax bill amounts to $446, which is well below the national median of $2,690. Property taxes in Charleston are calculated based on the tax assessed value, which is often lower than the market value due to various exemptions, such as those for primary residences and agricultural properties. By understanding Charleston's property tax system, exploring available exemptions, and identifying opportunities for reductions, homeowners and real estate investors can achieve significant annual savings. Whether you're in the heart of Charleston or another part of Mississippi County, a thorough understanding of the local property tax system can provide substantial financial benefits.
Last Updated June 14, 2024
Charleston, Missouri Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.02%
Estimate Property Tax Bill
$422
Ownwell’s Charleston Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Charleston with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Charleston 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 Charleston, Missouri
Property taxes in Charleston, Missouri, are essential for funding crucial local services such as public schools, road maintenance, and emergency services. The median tax rate in Charleston is 1.02%, which is higher than the U.S. national median of 0.99%. Local government entities within Charleston set these rates annually, and they can vary significantly across different neighborhoods. Each year, Charleston 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 Charleston's effective property tax rate to other counties in Missouri and the national median. For comparison, the 63834 zip code has both the highest and lowest median property tax rate of 1.02%. Understanding how these cities compare with Charleston provides valuable insights into the varying tax landscape across Mississippi County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Charleston Tax Rate
1.02%
Average Mississippi County Tax Rate
1.02%
Average Missouri Tax Rate
1.20%
Average United States Tax Rate
0.99%
Property Tax Rates Across Charleston, Missouri
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 63834 | 0.90% | 1.02% | 1.02% | 1.02% | 1.02% |
Source: Ownwell
Property Tax Assessment Values Across Charleston, Missouri
In Charleston, 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 Mississippi 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 Charleston, 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 Charleston helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The zip code 63834 has the highest and lowest median tax bill of $446.
Average Charleston Assessed Value
$41,400
Average Mississippi County Assessed Value
$37,500
Average Missouri Assessed Value
$129,505
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Charleston, Missouri
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 63834 | $3,600 | $20,150 | $41,400 | $83,050 | $133,980 |
Source: Ownwell
Property Tax Bills Across Charleston, Missouri
In Charleston, Mississippi County, MO, property tax bills are calculated based on the assessed value of a property, which is determined by a percentage of its market value. The median home price in Charleston is $41,400. Property taxes are then applied to this assessed value using the local tax rate. Several factors influence the final tax bill, including property type, location, and any applicable exemptions. For instance, the 25th percentile tax bill in Charleston is $249, while the 75th percentile tax bill is $840. At the 90th percentile, homeowners can expect a tax bill of $1,312. The highest median tax bill in the area is $446, found in the 63834 zip code, which also has the lowest median tax bill. These property taxes significantly impact homeowners by contributing to local services such as schools, infrastructure, and emergency services. Compared to the national median property tax rate of 0.99%, Charleston's property tax rates offer a relatively affordable option for residents.
Average Charleston Tax Bill
$446
Average Mississippi County Tax Bill
$433
Average Missouri Tax Bill
$1,606
Average United States Tax Bill
$2,690
Property Tax Bills Across Charleston, Missouri
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 63834 | $46 | $249 | $446 | $840 | $1,312 |
Source: Ownwell