Deering, Missouri Property Taxes
The median property tax rate in Deering, Missouri is 1.25%, higher than both the national median of 0.99% and the Missouri state median of 1.20%. With the median home value in Deering at $9,500, the typical annual property tax bill reaches $119, significantly lower than the national median of $2,690. Property taxes in Deering are calculated based on the tax assessed value, which typically falls below the market value due to various exemptions like the primary residence and agricultural exemptions. Understanding Deering'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 Deering 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
Deering, 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 Deering Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Deering with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Deering 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 Deering, Missouri
Property taxes in Deering, Missouri, are vital in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Deering is 1.25%, significantly higher than the U.S. national median of 0.99%. Local government entities within Deering set these rates annually, and they can vary significantly across different neighborhoods. Each year, Deering 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 Deering's effective property tax rate to other areas in Missouri and the national median. For comparison, the zip code 63840 has both the highest and lowest median property tax rate of 1.25%. Understanding how these areas compare with Deering provides valuable insights into the varying tax landscape across Pemiscot County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Deering Tax Rate
1.25%
Average Pemiscot County Tax Rate
1.14%
Average Missouri Tax Rate
1.20%
Average United States Tax Rate
0.99%
Property Tax Rates Across Deering, Missouri
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 63840 | 1.25% | 1.25% | 1.25% | 1.25% | 1.25% |
Source: Ownwell
Property Tax Assessment Values Across Deering, Missouri
In Deering, 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 Pemiscot 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 Deering, 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 Deering helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The zip code with the highest and lowest median tax bill in Deering is 63840, with a median tax bill of $119.
Average Deering Assessed Value
$9,500
Average Pemiscot County Assessed Value
$27,370
Average Missouri Assessed Value
$129,505
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Deering, Missouri
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 63840 | $9,500 | $9,500 | $9,500 | $9,500 | $9,500 |
Source: Ownwell
Property Tax Bills Across Deering, Missouri
In Deering, located in Pemiscot County, MO, property tax bills are calculated based on the assessed value of a home, which is a percentage of its market value. The median home price in Deering is $9,500. Property tax rates are applied to this assessed value to determine the annual tax bill. The tax bill for homes in Deering is notably consistent, with the 25th, 75th, and 90th percentiles all at $119, which is also the highest and lowest median tax bill recorded in the zip code 63840. Factors considered in determining the tax bill include the home's assessed value and the local tax rate. This consistent tax bill can offer predictability for homeowners, making it easier to budget for annual expenses. Compared to the national median property tax rate of 0.99%, Deering's property tax bills are significantly lower, providing a financial advantage to homeowners in this region. This lower tax burden can contribute to the overall affordability of living in Deering.
Average Deering Tax Bill
$119
Average Pemiscot County Tax Bill
$320
Average Missouri Tax Bill
$1,606
Average United States Tax Bill
$2,690
Property Tax Bills Across Deering, Missouri
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 63840 | $119 | $119 | $119 | $119 | $119 |
Source: Ownwell