Sikeston, Scott County, Missouri Property Taxes
The median property tax rate in Sikeston, MO is 0.91%, which is lower than both the national median of 0.99% and the Missouri state median of 1.20%. With the median home value in Sikeston at $64,140, the typical annual property tax bill is around $601, significantly below the national median of $2,690. Property taxes in Sikeston are calculated based on the tax assessed value, which often falls below the market value due to various exemptions such as primary residence and agricultural exemptions. Understanding Sikeston'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 Sikeston 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
Sikeston, Scott County, Missouri Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.91%
Estimate Property Tax Bill
$584
$542
Ownwell’s Sikeston Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Sikeston with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Sikeston 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 Sikeston, Scott County, Missouri
Property taxes in Sikeston, Missouri, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Sikeston is 0.91%, which is lower than the U.S. national median of 0.99%. Local government entities within Sikeston set these rates annually, and they can vary significantly across different neighborhoods. Each year, Sikeston 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 Sikeston's effective property tax rate to other counties in Missouri and the national median. For comparison, the zip code 63801 has both the highest and lowest median property tax rate in the region, which is 0.91%. Understanding how these cities compare with Sikeston 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 Sikeston Tax Rate
0.91%
Average Scott County Tax Rate
0.92%
Average Missouri Tax Rate
1.20%
Average United States Tax Rate
0.99%
Property Tax Rates Across Sikeston, Scott County, Missouri
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 63801 | 0.90% | 0.91% | 0.91% | 0.93% | 0.98% |
Source: Ownwell
Property Tax Assessment Values Across Sikeston, Scott County, Missouri
In Sikeston, 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 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 Sikeston, 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 Sikeston helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The median home price in Sikeston is $64,140, with tax bills ranging from $330 at the 25th percentile to $1,390 at the 90th percentile. The zip code 63801 has both the highest and lowest median tax bill at $601.
Property Tax Assessment Values Across Sikeston, Scott County, Missouri
Source: Ownwell
$24,415
$61,308
$98,200
Average Sikeston Assessed Value
$64,140
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 Sikeston, Scott County, Missouri
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 63801 | $21,280 | $36,165 | $64,140 | $102,040 | $150,400 |
Source: Ownwell
Property Tax Bills Across Sikeston, Scott County, Missouri
In Sikeston, Scott County, MO, property tax bills are determined based on the assessed value of a home, which is a percentage of its market value. For example, with a median home price of $64,140, the assessed value is calculated to determine the tax bill. Various factors such as property improvements, changes in market conditions, and local tax rates contribute to the final amount. Homeowners in Sikeston can expect their tax bills to vary significantly. The 25th percentile tax bill is around $330, while the 75th percentile reaches $947, and the top 10% of tax bills can be as high as $1,390. The median tax bill in the area stands at $601, aligning closely with the national median property tax rate of 0.99%. These tax bills directly impact homeowners by influencing their annual expenses and potentially affecting their financial planning. Understanding how these factors play into the calculation can help homeowners better anticipate their yearly property tax obligations.
Average Sikeston Tax Bill
$601
Average Scott County Tax Bill
$598
Average Missouri Tax Bill
$1,606
Average United States Tax Bill
$2,690
Property Tax Bills Across Sikeston, Scott County, Missouri
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 63801 | $197 | $330 | $601 | $947 | $1,390 |
Source: Ownwell