Scotland County, Missouri Property Taxes
The median property tax rate in Scotland County is 1.18%, which is slightly lower than Missouri's state median of 1.20% but still higher than the national median of 0.99%. With a median home value of $40,880, the typical annual property tax bill in Scotland County is approximately $472, significantly below the national median of $2,690. Property taxes in Scotland County are calculated based on the tax assessed value, which is often lower than the actual market value due to various property tax exemptions like primary residence and agricultural exemptions. Understanding Scotland County's specific property tax system, exploring available exemptions, and identifying opportunities for property tax reductions can provide significant annual savings. Whether you live in Memphis or another part of Scotland County, gaining a comprehensive knowledge of local property taxes will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Scotland County, Missouri Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.18%
Estimate Property Tax Bill
$482
$448
Ownwell’s Scotland County Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner to estimate their annual property taxes in Scotland County with just 2 data points. Enter your property's estimated assessed value, and our calculator applies the median tax rate in Scotland County to estimate your property tax bill. This insight helps you understand potential tax liabilities. If you’d like to see trends on a city level, scroll down to navigate to a more local informational page. Your property assessed value is the value assigned to your property by your county for property tax calculations. Assessed value takes into account any exemptions you may have on your property.
Property Tax Rates Across Scotland County, Missouri
Property taxes in Scotland County play a crucial role in funding essential local services like public schools, road maintenance, and emergency services. The median tax rate in Scotland County is 1.18%, which is higher than both the Missouri state median and the U.S. national median of 0.99%. Local government entities within Scotland County set these rates annually, and they can vary significantly between different areas within the county. Each year, Scotland County estimates its required budget to maintain services for the upcoming fiscal year and divides this budget by the total value of all taxable property in the jurisdiction, resulting in the property tax rate. Although tax rates and budgets are influenced by laws and voter input, this calculation forms the basic process for setting property tax rates. The following data compares Scotland County's effective property tax rate with other counties in Missouri and the national median. For comparison, the city of Memphis has one of the higher property tax rates in Missouri at 1.38%, while the city of Downing boasts one of the lowest at 0.98%. Analyzing how Scotland County's tax rates stack up against these benchmarks can give homeowners a better understanding of the local tax landscape.
Average Scotland County Tax Rate
1.18%
Average Missouri Tax Rate
1.20%
Average United States Tax Rate
0.99%
Property Tax Rates Across Scotland County, Missouri
| City | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| Arbela | 0.79% | 0.90% | 1.08% | 1.18% | 1.33% |
| Baring | 0.83% | 0.96% | 1.12% | 1.17% | 1.18% |
| Downing | 0.77% | 0.88% | 0.98% | 1.09% | 1.17% |
| Gorin | 0.83% | 0.99% | 1.18% | 1.35% | 1.37% |
| Granger | N/A | N/A | N/A | N/A | N/A |
| Greentop | N/A | N/A | N/A | N/A | N/A |
| Memphis | 0.87% | 1.08% | 1.38% | 1.38% | 1.38% |
| Rutledge | N/A | N/A | N/A | N/A | N/A |
Source: Ownwell
Property Tax Assessment Values Across Scotland County, Missouri
Understanding the difference between "market value" and "assessed value" is key to comprehending property taxes in Scotland County, MO. The market value represents the price a willing buyer would pay to a willing seller in an open, competitive market, considering location, property condition, and current economic trends. For tax purposes, this value is estimated by the Scotland County Appraisal District. 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. Assessment notices in Scotland County are typically mailed in the spring, usually by the middle of April. These notices provide homeowners with both the market and assessed values, along with an estimate of the annual property tax bill. By distinguishing between these valuation concepts, property owners can better navigate their tax responsibilities and understand how their property taxes are affected. Being aware of these valuation processes in Scotland County will help you identify opportunities for appealing assessments or applying for exemptions to manage your tax burden more effectively. For instance, Greentop has the highest median tax bill at $982, while Gorin has the lowest at $219.
Average Scotland County Assessed Value
$40,880
Average Missouri Assessed Value
$129,505
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Scotland County, Missouri
| City | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| Arbela | $1,543 | $8,612 | $46,080 | $95,270 | $183,757 |
| Baring | $1,350 | $7,650 | $53,880 | $115,400 | $195,376 |
| Downing | $12,690 | $42,055 | $80,640 | $169,715 | $239,260 |
| Gorin | $1,060 | $2,875 | $18,450 | $67,470 | $141,938 |
| Granger | N/A | N/A | N/A | N/A | N/A |
| Greentop | N/A | N/A | N/A | N/A | N/A |
| Memphis | $5,004 | $17,600 | $43,235 | $89,770 | $157,842 |
| Rutledge | N/A | N/A | N/A | N/A | N/A |
Source: Ownwell
Property Tax Bills Across Scotland County, Missouri
In Scotland County, MO, property tax bills are calculated based on the assessed value of a home, which is determined by local assessors. The assessed value is a percentage of the property's market value. Several factors influence this assessment, including the property's location, size, and condition. Once the assessed value is established, local tax rates are applied to calculate the tax bill. Homeowners in Scotland County experience a range of tax bills depending on their property's assessed value. For instance, the median home price in the county is $40,880, and tax bills can vary significantly. At the 25th percentile, the tax bill is around $162, while at the 75th percentile, it reaches approximately $1,017. The 90th percentile sees tax bills as high as $1,823. The highest median tax bill in the county is in Greentop at $982, whereas Gorin has the lowest at $219. These property taxes directly impact homeowners by influencing their annual housing costs, making it essential to understand how assessments and tax rates affect their financial obligations.
Average Scotland County Tax Bill
$472
Average Missouri Tax Bill
$1,606
Average United States Tax Bill
$2,690