Eldon, Missouri Property Taxes
The median property tax rate in Eldon, MO is 1.07%, 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 $108,600 in Eldon, the typical annual property tax bill amounts to $1,159, which is below the national median of $2,690. Property taxes in Eldon are calculated based on the assessed value, often less than the market value due to exemptions like the primary residence and agricultural exemptions. Understanding Eldon'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 Eldon 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
Eldon, 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 Eldon Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Eldon with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Eldon 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 Eldon, Missouri
Property taxes in Eldon, Missouri, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Eldon is 1.07%, which is higher than the U.S. national median of 0.99%. Local government entities within Eldon set these rates annually, and they can vary significantly across different neighborhoods. Each year, Eldon 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 Eldon's effective property tax rate to other counties in Missouri and the national median. For comparison, the 65026 zip code has the highest median property tax rate of 1.07%, while the same zip code also has the lowest median tax rate of 1.07%. Understanding how these cities compare with Eldon provides valuable insights into the varying tax landscape across Moniteau County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Eldon Tax Rate
1.07%
Average Moniteau County Tax Rate
1.03%
Average Missouri Tax Rate
1.20%
Average United States Tax Rate
0.99%
Property Tax Rates Across Eldon, Missouri
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 65026 | 1.07% | 1.07% | 1.07% | 1.07% | 1.07% |
Source: Ownwell
Property Tax Assessment Values Across Eldon, Missouri
In Eldon, 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 Moniteau 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 Eldon, 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 Eldon helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The highest and lowest median tax bills in Eldon are both $1,159, with the zip code 65026 being notable for these values.
Average Eldon Assessed Value
$108,600
Average Moniteau County Assessed Value
$88,800
Average Missouri Assessed Value
$129,505
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Eldon, Missouri
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 65026 | $108,600 | $108,600 | $108,600 | $108,600 | $108,600 |
Source: Ownwell
Property Tax Bills Across Eldon, Missouri
In Eldon, property tax bills are calculated based on the assessed value of a home, which is determined by the Moniteau County Assessor's office. The assessed value is a percentage of the market value of the property. For instance, if the median home price in Eldon is $108,600, the assessed value will be a fraction of this amount, depending on local assessment rates. The property tax rate is then applied to this assessed value to determine the tax bill. Several factors influence the total tax bill, including the property's location, any applicable exemptions, and the specific tax rates set by local taxing authorities. In Eldon, the median property tax bill is consistently $1,159, which is higher than the national median property tax rate of 0.99%. This relatively high tax bill can impact homeowners by increasing their annual housing costs, making it essential for them to budget for these expenses. Understanding how these factors interplay helps homeowners anticipate their financial obligations and plan accordingly.
Average Eldon Tax Bill
$1,159
Average Moniteau County Tax Bill
$1,018
Average Missouri Tax Bill
$1,606
Average United States Tax Bill
$2,690
Property Tax Bills Across Eldon, Missouri
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 65026 | $1,159 | $1,159 | $1,159 | $1,159 | $1,159 |
Source: Ownwell