Paris, Monroe County, Missouri Property Taxes
The median property tax rate in Paris, MO is 0.95%, slightly lower than the national median of 0.99% and significantly below the Missouri state median of 1.20%. With a median home value of $48,850 in Paris, the typical annual property tax bill amounts to $439, which is well under the national median of $2,690. Property taxes in Paris are determined based on the assessed value, which often falls below the market value due to various exemptions, such as those for primary residences and agricultural properties. Grasping Paris's property tax system, exploring available exemptions, and identifying opportunities for reductions can lead to substantial annual savings. Whether you're residing in Paris or another part of the county, understanding the local property tax system is advantageous for both homeowners and real estate investors.
Last Updated June 14, 2024
Paris, Monroe County, Missouri Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.95%
Estimate Property Tax Bill
$464
$431
Ownwell’s Paris Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Paris with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Paris 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 Paris, Monroe County, Missouri
Property taxes in Paris, Missouri, are vital in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Paris is 0.95%, slightly lower than the U.S. national median of 0.99%. Local government entities within Paris set these rates annually, and they can vary significantly across different neighborhoods. Each year, Paris 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 Paris's effective property tax rate to other areas in Monroe County and the national median. For comparison, the zip code 65275 has both the highest and lowest median property tax rate of 0.95%. Understanding how these areas compare with Paris provides valuable insights into the varying tax landscape across Monroe County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Paris Tax Rate
0.95%
Average Monroe County Tax Rate
0.97%
Average Missouri Tax Rate
1.20%
Average United States Tax Rate
0.99%
Property Tax Rates Across Paris, Monroe County, Missouri
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 65275 | 0.71% | 0.83% | 0.95% | 1.11% | 1.21% |
Source: Ownwell
Property Tax Assessment Values Across Paris, Monroe County, Missouri
In Paris, 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 Monroe County Assessor’s Office 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 Paris, 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 Paris helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The zip code 65275 in Paris has the highest median tax bill at $439, which is also the lowest median tax bill in the area.
Property Tax Assessment Values Across Paris, Monroe County, Missouri
Source: Ownwell
$8,200
$74,500
$140,800
Average Paris Assessed Value
$48,850
Average Monroe County Assessed Value
$49,250
Average Missouri Assessed Value
$129,505
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Paris, Monroe County, Missouri
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 65275 | $2,870 | $11,375 | $48,850 | $107,550 | $194,870 |
Source: Ownwell
Property Tax Bills Across Paris, Monroe County, Missouri
In Paris, Monroe County, MO, property tax bills are calculated based on the assessed value of a home, which is a percentage of its market value. For instance, if the median home price is $48,850, the assessed value is determined by applying the state’s assessment ratio. This assessed value is then multiplied by the local tax rate to calculate the property tax bill. The tax bill in Paris varies significantly, with the 25th percentile at $118 and the 75th percentile reaching $923. At the 90th percentile, homeowners can expect to pay around $1,574. These variations in tax bills reflect differences in property values and the specific tax rates applied within the county. Compared to the national median property tax rate of 0.99%, Paris residents might see lower or higher tax bills depending on their property's assessed value and the local tax rate. This system ensures that property taxes are proportionate to the value of the home, directly affecting homeowners by influencing their annual financial obligations.
Average Paris Tax Bill
$439
Average Monroe County Tax Bill
$442
Average Missouri Tax Bill
$1,606
Average United States Tax Bill
$2,690
Property Tax Bills Across Paris, Monroe County, Missouri
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 65275 | $31 | $118 | $439 | $923 | $1,574 |
Source: Ownwell