Eolia, Missouri Property Taxes
The median property tax rate in Eolia, MO is 1.11%, slightly higher than the national median of 0.99% but lower than Missouri's state median of 1.20%. With a median home value of $139,600 in Eolia, the typical annual property tax bill amounts to $1,537, which is below the national median of $2,690. Property taxes in Eolia are calculated based on the tax assessed value, often lower than the market value due to exemptions like primary residence and agricultural exemptions. Understanding Eolia'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 Eolia or another part of Pike County, understanding the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Eolia, Missouri Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.11%
Estimate Property Tax Bill
$1,550
Ownwell’s Eolia Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Eolia with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Eolia 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 Eolia, Missouri
Property taxes in Eolia, Missouri, are vital in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Eolia is 1.11%, higher than both the Missouri state median and the U.S. national median of 0.99%. Local government entities within Eolia set these rates annually, and they can vary significantly across different neighborhoods. Each year, Eolia 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 Eolia's effective property tax rate to other counties in Missouri and the national median. For comparison, the 63344 zip code has the highest median property tax rate of 1.11%, while the same zip code also has the lowest median tax rate of 1.11%. Understanding how these cities compare with Eolia provides valuable insights into the varying tax landscape across Pike County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Eolia Tax Rate
1.11%
Average Pike County Tax Rate
1.04%
Average Missouri Tax Rate
1.20%
Average United States Tax Rate
0.99%
Property Tax Rates Across Eolia, Missouri
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 63344 | 0.91% | 0.95% | 1.11% | 1.16% | 1.20% |
Source: Ownwell
Property Tax Assessment Values Across Eolia, Missouri
In Eolia, 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 Pike 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 Eolia, 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. For instance, the median home price in Eolia is $139,600, with tax bills ranging significantly. The highest median tax bill is $1,537 in zip code 63344, while the lowest median tax bill is also $1,537 in the same zip code. Knowing these valuation processes helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Eolia Assessed Value
$139,600
Average Pike County Assessed Value
$71,050
Average Missouri Assessed Value
$129,505
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Eolia, Missouri
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 63344 | $34,077 | $77,478 | $139,600 | $278,942 | $366,306 |
Source: Ownwell
Property Tax Bills Across Eolia, Missouri
In Eolia, Pike 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 Eolia stands at $139,600. Local tax authorities determine the assessed value, and this figure is then multiplied by the local tax rate to calculate the annual tax bill. The tax rate in Eolia is influenced by various factors, including funding requirements for public services such as schools, infrastructure, and emergency services. For homeowners, this means that a higher assessed value or an increase in the tax rate results in a higher tax bill. The 25th percentile tax bill in Eolia is $923, while the 75th percentile tax bill reaches $2,926, and the 90th percentile tax bill is $4,098. These figures highlight the range of property tax burdens local homeowners might face. Compared to the national median property tax rate of 0.99%, Eolia's rates can vary significantly, impacting household budgets differently across the spectrum.
Average Eolia Tax Bill
$1,537
Average Pike County Tax Bill
$720
Average Missouri Tax Bill
$1,606
Average United States Tax Bill
$2,690
Property Tax Bills Across Eolia, Missouri
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 63344 | $523 | $923 | $1,537 | $2,926 | $4,098 |
Source: Ownwell