Steele, Missouri Property Taxes
The median property tax rate in Steele, MO is 1.08%, slightly above the national median of 0.99% but below the Missouri state median of 1.20%. With the median home value in Steele at $33,720, the typical annual property tax bill is $375, which is significantly lower than the national median of $2,690. Property taxes in Steele are calculated based on the tax assessed value, which is often lower than the market value due to various exemptions, such as those for primary residences and agricultural properties. Understanding Steele'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 Steele or another part of Pemiscot County, understanding the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Steele, Missouri Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.08%
Estimate Property Tax Bill
$364
Ownwell’s Steele Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Steele with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Steele 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 Steele, Missouri
Property taxes in Steele, Missouri, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Steele is 1.08%, higher than both the Missouri state median and the U.S. national median of 0.99%. Local government entities within Steele set these rates annually, and they can vary significantly across different neighborhoods. Each year, Steele 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 Steele's effective property tax rate to other counties in Missouri and the national median. For comparison, the 63877 zip code has the highest median property tax rate of 1.08%, while the same 63877 zip code also has the lowest median tax rate of 1.08%. Understanding how these cities compare with Steele 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 Steele Tax Rate
1.08%
Average Pemiscot County Tax Rate
1.14%
Average Missouri Tax Rate
1.20%
Average United States Tax Rate
0.99%
Property Tax Rates Across Steele, Missouri
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 63877 | 0.98% | 1.07% | 1.08% | 1.09% | 1.28% |
Source: Ownwell
Property Tax Assessment Values Across Steele, Missouri
In Steele, 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 Steele, 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 Steele helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. Steele's median home price is $33,720. The 25th percentile tax bill is $210, the 75th percentile tax bill is $659, and the 90th percentile tax bill is $1,301. The highest and lowest median tax bills in Steele are both $375, found in the 63877 zip code.
Average Steele Assessed Value
$33,720
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 Steele, Missouri
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 63877 | $10,835 | $18,120 | $33,720 | $63,320 | $134,330 |
Source: Ownwell
Property Tax Bills Across Steele, Missouri
Property tax bills in Steele, located in Pemiscot County, Missouri, are calculated based on the assessed value of a property and the local tax rate. The assessed value is a percentage of the property's market value, which in Steele is influenced by factors such as location, property type, and market conditions. Homeowners in Steele see a range of tax bills, with the 25th percentile at $210 and the 75th percentile reaching $659. Those in the 90th percentile can face tax bills as high as $1,301, indicating significant variability based on property value and assessment. The median home price in Steele is $33,720, and with a consistent median tax bill of $375 across the zip code 63877, the tax rate is relatively modest compared to the national median property tax rate of 0.99%. This means that while property taxes are a necessary expense for homeowners, they remain manageable in Steele, allowing residents to budget more effectively without the burden of excessively high property taxes.
Average Steele Tax Bill
$375
Average Pemiscot County Tax Bill
$320
Average Missouri Tax Bill
$1,606
Average United States Tax Bill
$2,690
Property Tax Bills Across Steele, Missouri
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 63877 | $129 | $210 | $375 | $659 | $1,301 |
Source: Ownwell