Chaffee, Scott County, Missouri Property Taxes
The median property tax rate in Chaffee, MO is 1.08%, 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 $51,845 in Chaffee, the typical annual property tax bill amounts to $533, which is significantly below the national median of $2,690. Property taxes in Chaffee are based on the assessed value, which is often less than the market value due to exemptions such as those for primary residences and agricultural properties. By understanding Chaffee's property tax system, exploring available exemptions, and seeking opportunities for reductions, homeowners can achieve substantial annual savings. Whether you're located in the heart of Chaffee or another part of Scott County, grasping the local property tax intricacies will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Chaffee, Scott County, Missouri Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.08%
Estimate Property Tax Bill
$560
$520
Ownwell’s Chaffee Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Chaffee with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Chaffee 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 Chaffee, Scott County, Missouri
Property taxes in Chaffee, Missouri, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Chaffee is 1.08%, higher than the U.S. national median of 0.99%. Local government entities within Chaffee set these rates annually, and they can vary significantly across different neighborhoods. Each year, Chaffee 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 Chaffee's effective property tax rate to other counties in Missouri and the national median. For comparison, the 63740 zip code has the highest median property tax rate of 1.08%, while the same zip code also has the lowest median tax rate of 1.08%. Understanding how these cities compare with Chaffee provides valuable insights into the varying tax landscape across Scott County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Chaffee Tax Rate
1.08%
Average Scott County Tax Rate
0.92%
Average Missouri Tax Rate
1.20%
Average United States Tax Rate
0.99%
Property Tax Rates Across Chaffee, Scott County, Missouri
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 63740 | 0.87% | 0.93% | 1.08% | 1.08% | 1.09% |
Source: Ownwell
Property Tax Assessment Values Across Chaffee, Scott County, Missouri
In Chaffee, 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 Scott County Appraisal District 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 Chaffee, 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 Chaffee helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. Notably, the zip code 63740 has the highest and lowest median tax bills at $533, reflecting the diverse property values within the region.
Property Tax Assessment Values Across Chaffee, Scott County, Missouri
Source: Ownwell
$24,415
$61,308
$98,200
Average Chaffee Assessed Value
$51,845
Average Scott County Assessed Value
$61,900
Average Missouri Assessed Value
$129,505
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Chaffee, Scott County, Missouri
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 63740 | $20,101 | $34,190 | $51,845 | $85,082 | $130,965 |
Source: Ownwell
Property Tax Bills Across Chaffee, Scott County, Missouri
Property tax bills in Chaffee, located in Scott County, MO, are determined based on the assessed value of a property, which is a percentage of its market value. In Chaffee, the median home price is $51,845. The assessed value is then multiplied by the local tax rate to calculate the annual tax bill. For homeowners in Chaffee, the property tax bill can vary significantly. The 25th percentile tax bill is $358, while the 75th percentile tax bill is $827, and the 90th percentile tax bill reaches $1,215. These variations are influenced by factors such as property size, location, and any applicable exemptions. Compared to the national median property tax rate of 0.99%, Chaffee's tax rates reflect local economic conditions and funding requirements for public services. Homeowners need to be aware of these factors as they directly impact their annual financial obligations and the overall affordability of owning property in the area.
Average Chaffee Tax Bill
$533
Average Scott County Tax Bill
$598
Average Missouri Tax Bill
$1,606
Average United States Tax Bill
$2,690
Property Tax Bills Across Chaffee, Scott County, Missouri
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 63740 | $211 | $358 | $533 | $827 | $1,215 |
Source: Ownwell