Excelsior Springs, Missouri Property Taxes
The median property tax rate in Excelsior Springs, MO is 0.98%, slightly below the national median of 0.99% and significantly lower than the Missouri state median of 1.20%. With a median home value of $20,950 in Excelsior Springs, the typical annual property tax bill amounts to $203, which is far below the national median of $2,690. Property taxes in Excelsior Springs are calculated based on the assessed value, which often falls below the market value due to exemptions like those for primary residences and agricultural properties. Navigating Excelsior Springs' property tax system, exploring available exemptions, and identifying opportunities for reductions can result in substantial annual savings. Whether you're in the heart of Excelsior Springs or another part of the city, understanding the local property tax system is crucial for both homeowners and real estate investors.
Last Updated June 14, 2024
Excelsior Springs, Missouri Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.98%
Estimate Property Tax Bill
$205
Ownwell’s Excelsior Springs Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Excelsior Springs with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Excelsior Springs 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 Excelsior Springs, Missouri
Property taxes in Excelsior Springs, Missouri, play a crucial role in funding essential local services, including public schools, road maintenance, and emergency services. The median tax rate in Excelsior Springs is 0.98%, which is slightly below the U.S. national median of 0.99%. Local government entities within Excelsior Springs set these rates annually, and they can vary significantly across different neighborhoods. Each year, Excelsior Springs 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 Excelsior Springs' effective property tax rate to other areas within Morgan County and the national median. For comparison, the zip code 64024 has both the highest and lowest median property tax rate of 0.98%, illustrating the uniformity of the tax rates within the area. Understanding how these rates compare with Excelsior Springs provides valuable insights into the varying tax landscape across Morgan County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Excelsior Springs Tax Rate
0.98%
Average Morgan County Tax Rate
0.87%
Average Missouri Tax Rate
1.20%
Average United States Tax Rate
0.99%
Property Tax Rates Across Excelsior Springs, Missouri
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 64024 | 0.88% | 0.92% | 0.98% | 1.01% | 1.01% |
Source: Ownwell
Property Tax Assessment Values Across Excelsior Springs, Missouri
In Excelsior Springs, 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. In Excelsior Springs, 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. For instance, the median home price stands at $20,950, with tax bills ranging from $155 at the 25th percentile to $1,363 at the 90th percentile. Interestingly, the zip code 64024 has both the highest and lowest median tax bill at $203. 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 Excelsior Springs helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Property Tax Assessment Values Across Excelsior Springs, Missouri
Source: Ownwell
$1,100
$177,225
$353,350
Average Excelsior Springs Assessed Value
$20,950
Average Morgan County Assessed Value
$49,350
Average Missouri Assessed Value
$129,505
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Excelsior Springs, Missouri
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 64024 | $11,270 | $15,275 | $20,950 | $72,550 | $159,220 |
Source: Ownwell
Property Tax Bills Across Excelsior Springs, Missouri
In Excelsior Springs, Morgan County, MO, property tax bills are calculated based on the assessed value of a home, which is a percentage of its market value. The local tax rate is then applied to this assessed value to determine the tax bill. For instance, if a home has a median market price of $20,950, the assessed value is determined by the county's assessment rate. The tax bill varies significantly depending on the property's assessed value and the applicable tax rate. For example, the 25th percentile tax bill is $155, while the 75th percentile tax bill is $634. At the 90th percentile, homeowners can expect a tax bill of $1,363. These property taxes fund essential public services like schools, infrastructure, and emergency services. Homeowners in Excelsior Springs may find their tax bills to be relatively low compared to the national median property tax rate of 0.99%, making it an attractive location for those seeking affordability in property ownership.
Average Excelsior Springs Tax Bill
$203
Average Morgan County Tax Bill
$420
Average Missouri Tax Bill
$1,606
Average United States Tax Bill
$2,690
Property Tax Bills Across Excelsior Springs, Missouri
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 64024 | $114 | $155 | $203 | $634 | $1,363 |
Source: Ownwell