Edgar Springs, Phelps County, Missouri Property Taxes
The median property tax rate in Edgar Springs, MO is 0.66%, notably lower than both the national median of 0.99% and the Missouri state median of 1.20%. With the median home value in Edgar Springs at $62,610, the typical annual property tax bill is $432, significantly below the national median of $2,690. Property taxes in Edgar Springs are calculated based on the tax assessed value, which often falls below the market value due to various exemptions, such as those for primary residences and agricultural properties. Understanding Edgar Springs' property tax system, exploring available exemptions, and identifying opportunities for reductions can lead to substantial annual savings. Whether you're in the heart of Edgar Springs 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
Edgar Springs, Phelps County, Missouri Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.66%
Estimate Property Tax Bill
$413
$383
Ownwell’s EDGAR SPRINGS Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in EDGAR SPRINGS with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in EDGAR SPRINGS 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 Edgar Springs, Phelps County, Missouri
Property taxes in Edgar Springs, Missouri, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Edgar Springs is 0.66%, which is lower than both the Missouri state median of 0.91% and the U.S. national median of 0.99%. Local government entities within Edgar Springs set these rates annually, and they can vary across different neighborhoods. Each year, Edgar Springs 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 Edgar Springs' effective property tax rate to other counties in Missouri and the national median. For comparison, the 65462 zip code has both the highest and lowest median property tax rate of 0.66%. Understanding how these areas compare with Edgar Springs provides valuable insights into the varying tax landscape across Phelps County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Edgar Springs Tax Rate
0.66%
Average Phelps County Tax Rate
0.98%
Average Missouri Tax Rate
1.20%
Average United States Tax Rate
0.99%
Property Tax Rates Across Edgar Springs, Phelps County, Missouri
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 65462 | 0.57% | 0.63% | 0.66% | 0.66% | 0.76% |
Source: Ownwell
Property Tax Assessment Values Across Edgar Springs, Phelps County, Missouri
In Edgar Springs, 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 Phelps 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 Edgar Springs, 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 Edgar Springs helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The median home price in Edgar Springs is $62,610, with the 25th percentile tax bill at $212 and the 75th percentile tax bill at $684. The highest and lowest median tax bills are both $432 in the 65462 zip code.
Property Tax Assessment Values Across Edgar Springs, Phelps County, Missouri
Source: Ownwell
$37,100
$78,532
$119,964
Average Edgar Springs Assessed Value
$62,610
Average Phelps County Assessed Value
$106,880
Average Missouri Assessed Value
$129,505
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Edgar Springs, Phelps County, Missouri
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 65462 | $15,500 | $32,300 | $62,610 | $105,100 | $160,860 |
Source: Ownwell
Property Tax Bills Across Edgar Springs, Phelps County, Missouri
In Edgar Springs, property tax bills are calculated based on the assessed value of a home, which is a percentage of the market value. For instance, with a median home price of $62,610, the assessed value is determined by local assessment rates. This assessed value is then multiplied by the local tax rate to determine the annual tax bill. Several factors influence the tax bill, including the property's location, market conditions, and any applicable exemptions. For example, in Phelps County, where Edgar Springs is located, the tax bill at the 25th percentile is $212, while it reaches $684 at the 75th percentile and $1,063 at the 90th percentile. These figures illustrate the range of tax burdens homeowners might face, depending on their property's assessed value and the local tax rates. Compared to the national median property tax rate of 0.99%, Edgar Springs homeowners may find their tax bills relatively manageable. However, understanding these factors and how they affect property taxes is crucial for homeowners to plan their finances effectively.
Average Edgar Springs Tax Bill
$432
Average Phelps County Tax Bill
$1,009
Average Missouri Tax Bill
$1,606
Average United States Tax Bill
$2,690
Property Tax Bills Across Edgar Springs, Phelps County, Missouri
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 65462 | $101 | $212 | $432 | $684 | $1,063 |
Source: Ownwell