Excelsior Springs, Ray County, Missouri Property Taxes
The median property tax rate in Excelsior Springs, MO is 1.35%, considerably higher than both the national median of 0.99% and the Missouri state median of 1.20%. With the median home value in Excelsior Springs at $122,760, the typical annual property tax bill reaches $1,737, exceeding the national median of $2,690. Property taxes in Excelsior Springs 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 Excelsior Springs' property tax system, exploring available exemptions, and identifying opportunities for reductions can lead to significant annual savings. Whether you're in the heart of Excelsior 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
Excelsior Springs, Ray County, Missouri Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.35%
Estimate Property Tax Bill
$1,657
$1,538
Ownwell’s Excelsior Springs Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Excelsior Springs with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Excelsior 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 Excelsior Springs, Ray County, Missouri
Property taxes in Excelsior Springs, Missouri, are vital in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Excelsior Springs is 1.35%, higher than both the Missouri state median and the U.S. national median of 0.99%. Local government entities within Excelsior Springs set these rates annually, and they can vary significantly across different neighborhoods. Each year, Excelsior 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 Excelsior Springs' effective property tax rate to other areas in Missouri and the national median. For comparison, the zip code 64024 has the highest median property tax rate of 1.35%, while the same zip code also has the lowest median tax rate of 1.35%. Understanding how these cities compare with Excelsior Springs provides valuable insights into the varying tax landscape across Ray County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Excelsior Springs Tax Rate
1.35%
Average Ray County Tax Rate
1.35%
Average Missouri Tax Rate
1.20%
Average United States Tax Rate
0.99%
Property Tax Rates Across Excelsior Springs, Ray County, Missouri
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 64024 | 1.30% | 1.35% | 1.35% | 1.42% | 1.59% |
Source: Ownwell
Property Tax Assessment Values Across Excelsior Springs, Ray County, Missouri
In Excelsior 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 Ray 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 Excelsior 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. For instance, the median home price in the area is $122,760, and tax bills can range significantly. The 25th percentile tax bill is $1,228, while the 75th percentile tax bill is $2,273, and the 90th percentile tax bill can reach up to $3,020. 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 Excelsior Springs helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Property Tax Assessment Values Across Excelsior Springs, Ray County, Missouri
Source: Ownwell
$36,360
$82,168
$127,975
Average Excelsior Springs Assessed Value
$122,760
Average Ray County Assessed Value
$105,860
Average Missouri Assessed Value
$129,505
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Excelsior Springs, Ray County, Missouri
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 64024 | $46,060 | $86,942 | $122,760 | $164,905 | $223,000 |
Source: Ownwell
Property Tax Bills Across Excelsior Springs, Ray County, Missouri
In Excelsior Springs, property tax bills are determined by assessing the market value of a home and then applying the local tax rate. The assessed value is typically a percentage of the market value, which is then multiplied by the tax rate set by local government authorities. For instance, in Ray County, where Excelsior Springs is located, the median home price is $122,760. The property tax rate in this area can result in varying tax bills, with the 25th percentile at $1,228 and the 75th percentile at $2,273. Factors such as property improvements, neighborhood changes, and local budget requirements can influence the assessed value and tax rate. The highest median tax bill in the area is $1,737, as seen in the 64024 zip code. This system ensures that homeowners contribute to local services like schools and infrastructure, but it also means that significant property value increases can lead to higher tax bills, impacting household budgets.
Average Excelsior Springs Tax Bill
$1,737
Average Ray County Tax Bill
$1,429
Average Missouri Tax Bill
$1,606
Average United States Tax Bill
$2,690
Property Tax Bills Across Excelsior Springs, Ray County, Missouri
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 64024 | $617 | $1,228 | $1,737 | $2,273 | $3,020 |
Source: Ownwell