East Prairie, Missouri Property Taxes
The median property tax rate in East Prairie, MO is 1.13%, slightly higher than the national median of 0.99% but lower than the Missouri state median of 1.20%. With a median home value of $38,500 in East Prairie, the typical annual property tax bill amounts to $447, which is significantly below the national median of $2,690. Property taxes in East Prairie are calculated based on the tax assessed value, which is generally lower than the market value due to various exemptions, such as those for primary residences and agricultural properties. Understanding East Prairie'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 East Prairie or another part of the city, familiarizing yourself with the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
East Prairie, 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 EAST PRAIRIE Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in EAST PRAIRIE with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in EAST PRAIRIE 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 East Prairie, Missouri
Property taxes in East Prairie, Missouri, are crucial for funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in East Prairie is 1.13%, higher than the U.S. national median of 0.99%. Local government entities within East Prairie set these rates annually, and they can vary significantly across different neighborhoods. Each year, East Prairie 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 East Prairie's effective property tax rate to other counties in Missouri and the national median. For comparison, the 63845 zip code has the highest median property tax rate of 1.13%, while the 63845 zip code also has the lowest median tax rate of 1.13%. Understanding how these cities compare with East Prairie 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 East Prairie Tax Rate
1.13%
Average Mississippi County Tax Rate
1.02%
Average Missouri Tax Rate
1.20%
Average United States Tax Rate
0.99%
Property Tax Rates Across East Prairie, Missouri
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 63845 | 1.01% | 1.01% | 1.13% | 1.13% | 1.15% |
Source: Ownwell
Property Tax Assessment Values Across East Prairie, Missouri
In East Prairie, 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 East Prairie, 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 East Prairie helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The zip code 63845 has both the highest and lowest median tax bill at $447, indicating a relatively uniform tax landscape within the area.
Average East Prairie Assessed Value
$38,500
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 East Prairie, Missouri
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 63845 | $2,600 | $15,475 | $38,500 | $77,200 | $131,200 |
Source: Ownwell
Property Tax Bills Across East Prairie, Missouri
In East Prairie, Mississippi County, MO, property tax bills are calculated based on the assessed value of a home, which is a percentage of its market value. The median home price in East Prairie stands at $38,500. Property tax rates in this region are relatively low compared to the national median property tax rate of 0.99%. To determine a homeowner's tax bill, the assessed value of the property is multiplied by the local tax rate. Various factors, such as property improvements, neighborhood developments, and market trends, can influence the assessed value. For example, the tax bill at the 25th percentile is $213, while it rises to $823 at the 75th percentile, and reaches $1,332 at the 90th percentile. These property taxes fund essential public services, including schools, infrastructure, and emergency services. For homeowners, understanding how these factors influence their tax bills can help them manage their finances and plan for future expenses.
Average East Prairie Tax Bill
$447
Average Mississippi County Tax Bill
$433
Average Missouri Tax Bill
$1,606
Average United States Tax Bill
$2,690
Property Tax Bills Across East Prairie, Missouri
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 63845 | $40 | $213 | $447 | $823 | $1,332 |
Source: Ownwell