Matthews, Missouri Property Taxes
The median property tax rate in Matthews, MO is 0.90%, which is lower than both the national median of 0.99% and the Missouri state median of 1.20%. With a median home value in Matthews of $60,100, the typical annual property tax bill comes to $541, significantly less than the national median of $2,690. Property taxes in Matthews are calculated based on the assessed value, which usually falls below the market value due to exemptions like primary residence and agricultural exemptions. Understanding Matthews' property tax system, exploring available exemptions, and identifying opportunities for reductions can lead to significant annual savings. Whether you're in the heart of Matthews 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
Matthews, Missouri Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.9%
Estimate Property Tax Bill
$541
Ownwell’s Matthews Property Tax Bill Calculator is a valuable resource for homeowners, real estate investors, and potential buyers looking to estimate their annual property taxes in Matthews. By simply inputting your property's estimated assessed value, the calculator uses the median tax rate in Matthews to provide an accurate estimate of your property tax bill. This tool is essential for understanding potential tax liabilities and planning your finances accordingly. For those interested in more detailed trends at the neighborhood level, additional localized information is available below. Your property’s assessed value, determined by the county, is crucial for these calculations and can be adjusted for any applicable exemptions.
Property Tax Rates Across Matthews, Missouri
Property taxes in Matthews, Missouri, are crucial for funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Matthews is 0.90%, slightly below the U.S. national median of 0.99%. Local government entities within Matthews set these rates annually, and they can vary significantly across different neighborhoods. Each year, Matthews 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 Matthews' effective property tax rate to other counties in Missouri and the national median. For comparison, the zip code 63867 has both the highest and lowest median property tax rate of 0.90%, reflecting a consistent rate across the area. Understanding how these cities compare with Matthews provides valuable insights into the varying tax landscape across New Madrid County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Matthews Tax Rate
0.90%
Average New Madrid County Tax Rate
0.94%
Average Missouri Tax Rate
1.20%
Average United States Tax Rate
0.99%
Property Tax Rates Across Matthews, Missouri
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 63867 | 0.85% | 0.87% | 0.90% | 0.90% | 0.91% |
Source: Ownwell
Property Tax Assessment Values Across Matthews, Missouri
In Matthews, 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 New Madrid 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 Matthews, 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. Matthews homeowners face a median property tax bill of $541, with the highest and lowest median tax bills both occurring in zip code 63867. Being aware of these valuation processes helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Matthews Assessed Value
$60,100
Average New Madrid County Assessed Value
$54,200
Average Missouri Assessed Value
$129,505
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Matthews, Missouri
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 63867 | $23,200 | $36,200 | $60,100 | $97,150 | $141,760 |
Source: Ownwell
Property Tax Bills Across Matthews, Missouri
In Matthews, located in New Madrid County, MO, property tax bills are calculated based on the assessed value of a property, which is a percentage of its market value. For homeowners, the median home price in Matthews is $60,100. The tax rate is applied to this assessed value to determine the annual tax bill. Factors such as property size, location, and improvements can influence the assessed value. For instance, homeowners in Matthews can expect tax bills to vary significantly. The 25th percentile tax bill is around $323, while the 75th percentile tax bill is approximately $867. At the higher end, the 90th percentile tax bill reaches $1,202. These variations reflect differences in property values and the specific characteristics of each home. Compared to the national median property tax rate of 0.99%, Matthews homeowners may find their tax bills to be relatively moderate. Understanding these factors helps homeowners anticipate their annual financial obligations and plan accordingly.
Average Matthews Tax Bill
$541
Average New Madrid County Tax Bill
$513
Average Missouri Tax Bill
$1,606
Average United States Tax Bill
$2,690
Property Tax Bills Across Matthews, Missouri
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 63867 | $204 | $323 | $541 | $867 | $1,202 |
Source: Ownwell