Marshall, Missouri Property Taxes
The median property tax rate in Marshall, MO is 1.05%, which is slightly higher than the national median of 0.99% but lower than the Missouri state median of 1.20%. With a median home value of $70,990 in Marshall, the typical annual property tax bill amounts to $712, significantly below the national median of $2,690. Property taxes in Marshall are based on the assessed value, which often falls below the market value due to various exemptions, including those for primary residences and agricultural properties. Understanding Marshall's property tax system, exploring available exemptions, and identifying opportunities for reductions can lead to substantial annual savings. Whether you're in the heart of Marshall or another part of the city, grasping the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Marshall, Missouri Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.05%
Estimate Property Tax Bill
$745
Ownwell’s Marshall Property Tax Bill Calculator assists homeowners, real estate investors, and potential buyers in estimating their annual property taxes in Marshall with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Marshall to estimate your property tax bill. This valuable tool helps you grasp potential tax liabilities. For those interested in neighborhood-specific trends, more localized information is available below. Your property’s assessed value, determined by the county, is used for property tax calculations and considers any applicable exemptions.
Property Tax Rates Across Marshall, Missouri
Property taxes in Marshall, Missouri, are crucial for funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Marshall is 1.07%, higher than both the Missouri state median of 0.91% and the U.S. national median of 0.99%. Local government entities within Marshall set these rates annually, and they can vary significantly across different neighborhoods. Each year, Marshall 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 Marshall's effective property tax rate to other counties in Missouri and the national median. For comparison, the 65340 zip code has the highest median property tax rate of 1.07%, while the same zip code also has the lowest median tax rate of 1.07%. Understanding how these cities compare with Marshall provides valuable insights into the varying tax landscape across Saline County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Marshall Tax Rate
1.05%
Average Pettis County Tax Rate
1.16%
Average Missouri Tax Rate
1.20%
Average United States Tax Rate
0.99%
Property Tax Rates Across Marshall, Missouri
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 65340 | 0.98% | 1.01% | 1.05% | 1.06% | 1.07% |
Source: Ownwell
Property Tax Assessment Values Across Marshall, Missouri
In Marshall, 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 Saline 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 Marshall, 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 Marshall helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The highest median tax bill in the area is $712 in the 65340 zip code, and the lowest median tax bill is also $712 in the same zip code.
Average Marshall Assessed Value
$70,990
Average Pettis County Assessed Value
$83,765
Average Missouri Assessed Value
$129,505
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Marshall, Missouri
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 65340 | $32,870 | $41,382 | $70,990 | $156,768 | $190,651 |
Source: Ownwell
Property Tax Bills Across Marshall, Missouri
In Marshall, located in Pettis County, MO, property tax bills are calculated based on the assessed value of a home and the local tax rate. The assessed value is determined by the county assessor and is typically a percentage of the market value of the property. For homeowners in Marshall, the median home price is $70,990. The tax bill can vary significantly, with the 25th percentile at $442 and the 75th percentile reaching $1,616. At the 90th percentile, homeowners might see tax bills as high as $1,910. These tax bills are influenced by various factors, including property improvements, neighborhood developments, and changes in the local tax rate. The highest and lowest median tax bills in the area are both recorded at $712 in the 65340 zip code, reflecting a localized consistency. Compared to the national median property tax rate of 0.99%, Marshall's property tax rates can have a significant impact on homeowners, affecting their annual financial planning and overall cost of homeownership.
Average Marshall Tax Bill
$712
Average Pettis County Tax Bill
$930
Average Missouri Tax Bill
$1,606
Average United States Tax Bill
$2,690
Property Tax Bills Across Marshall, Missouri
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 65340 | $339 | $442 | $712 | $1,616 | $1,910 |
Source: Ownwell