Paris, Missouri Property Taxes
The median property tax rate in Paris, MO is 0.84%, which is lower than both the national median of 0.99% and the Missouri state median of 1.20%. With a median home value of $125,600 in Paris, the typical annual property tax bill is $1,054, significantly less than the national median of $2,690. Property taxes in Paris are calculated based on the assessed value, often lower than the market value due to exemptions like the primary residence and agricultural exemptions. Grasping Paris's property tax system, exploring available exemptions, and identifying opportunities for reductions can result in substantial annual savings. Whether you're in the heart of Paris or another part of the city, understanding the local property tax system is beneficial for both homeowners and real estate investors.
Last Updated June 14, 2024
Paris, Missouri Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.84%
Estimate Property Tax Bill
$1,055
Ownwell’s Paris Property Tax Bill Calculator assists homeowners, real estate investors, and potential buyers in estimating their annual property taxes in Paris with just two data points. By entering your property's estimated assessed value, the calculator utilizes the median tax rate in Paris to estimate your property tax bill. This valuable tool provides insight into potential tax liabilities. For those interested in neighborhood-level trends, more localized information is available below. Your property’s assessed value is determined by the county for property tax purposes, factoring in any applicable exemptions.
Property Tax Rates Across Paris, Missouri
Property taxes in Paris, Missouri, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Paris is 0.84%, which is 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. Understanding how these rates are determined helps homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Paris Tax Rate
0.84%
Average Morgan County Tax Rate
0.87%
Average Missouri Tax Rate
1.20%
Average United States Tax Rate
0.99%
Property Tax Rates Across Paris, Missouri
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 65275 | 0.84% | 0.84% | 0.84% | 0.84% | 0.84% |
Source: Ownwell
Property Tax Assessment Values Across Paris, Missouri
Understanding the difference between "market value" and "assessed value" is crucial for comprehending property taxes in Paris, Missouri. The market value represents 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. Conversely, 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. For instance, the median home price in Paris is $125,600, and the median tax bill is $1,054, which is above the national median property tax rate of 0.99%. The zip code with the highest and lowest median tax bill is 65275, both at $1,054. By understanding these valuation concepts, property owners can better navigate their tax responsibilities and identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Paris Assessed Value
$125,600
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 Paris, Missouri
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 65275 | $125,600 | $125,600 | $125,600 | $125,600 | $125,600 |
Source: Ownwell
Property Tax Bills Across Paris, Missouri
In Paris, Missouri, property tax bills are calculated based on the assessed value of a property, which is determined by the local assessor's office. This assessed value is a percentage of the property's market value. For homeowners in Paris, the median home price is $125,600. The property tax rate in Morgan County influences the final tax bill, with the national median property tax rate being 0.99%. In Paris, the median property tax bill stands at $1,054, which is consistent across various percentiles, indicating a stable tax environment. Factors such as property improvements, neighborhood developments, and local government budgets can affect the assessed value and, consequently, the tax bill. For homeowners, understanding these factors is crucial as they directly impact annual expenses. A higher assessed value can lead to a higher tax bill, potentially affecting household budgets. Conversely, knowing the local tax rate and assessment practices can help homeowners plan better and possibly seek exemptions or appeals to manage their tax liabilities effectively.
Average Paris Tax Bill
$1,054
Average Morgan County Tax Bill
$420
Average Missouri Tax Bill
$1,606
Average United States Tax Bill
$2,690
Property Tax Bills Across Paris, Missouri
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 65275 | $1,054 | $1,054 | $1,054 | $1,054 | $1,054 |
Source: Ownwell