Philadelphia, Missouri Property Taxes
The median property tax rate in Philadelphia, MO is 1.00%, 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 $105,150, the typical annual property tax bill in Philadelphia amounts to $1,196, which is below the national median of $2,690. Property taxes in Philadelphia are calculated based on the tax assessed value, which is often less than the market value due to exemptions like the primary residence and agricultural exemptions. Understanding Philadelphia's property tax system, exploring available exemptions, and identifying opportunities for reductions can result in significant annual savings. Whether you're in the heart of Philadelphia or another part of Shelby County, understanding the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Philadelphia, Missouri Property Tax Bill Calculator
$100,000
$2,500,000
$5,000,000
Average Tax Rate
1.2%
Estimate Property Tax Bill
$2,400
Ownwell’s Philadelphia Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Philadelphia with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Philadelphia 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 Philadelphia, Missouri
Property taxes in Philadelphia, Missouri, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Philadelphia is 1.00%, slightly above the U.S. national median of 0.99%. Local government entities within Philadelphia set these rates annually, and they can vary significantly across different neighborhoods. Each year, Philadelphia 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 Philadelphia's effective property tax rate to other areas in Missouri and the national median. For comparison, the 63463 zip code has the highest median property tax rate of 1.00%, while the same zip code also has the lowest median tax rate of 1.00%. Understanding how these areas compare with Philadelphia provides valuable insights into the varying tax landscape across Shelby County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Philadelphia Tax Rate
1.00%
Average Shelby County Tax Rate
0.87%
Average Missouri Tax Rate
1.20%
Average United States Tax Rate
0.99%
Property Tax Rates Across Philadelphia, Missouri
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 63463 | 0.90% | 0.93% | 1.00% | 1.02% | 1.04% |
Source: Ownwell
Property Tax Assessment Values Across Philadelphia, Missouri
Understanding the difference between "market value" and "assessed value" is crucial for comprehending property taxes in Philadelphia, Missouri. 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 Shelby 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 Philadelphia, 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 Philadelphia is $105,150, with tax bills ranging from $992 at the 25th percentile to $1,478 at the 90th percentile. The zip code 63463 has both the highest and lowest median tax bills at $1,196. Being aware of these valuation processes helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Philadelphia Assessed Value
$105,150
Average Shelby County Assessed Value
$56,500
Average Missouri Assessed Value
$129,505
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Philadelphia, Missouri
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 63463 | $44,470 | $74,125 | $105,150 | $126,800 | $139,580 |
Source: Ownwell
Property Tax Bills Across Philadelphia, Missouri
In Philadelphia, MO, property tax bills are calculated based on the assessed value of a home and the local tax rate. The assessed value is determined by county officials and is a percentage of the home's market value. For instance, with a median home price of $105,150, homeowners can expect their property tax bill to vary significantly. The 25th percentile tax bill is around $992, while the 75th percentile reaches $1,372, and the 90th percentile can be as high as $1,478. These figures highlight the range of property tax burdens homeowners might face. Several factors influence the tax bill, including property assessments, local tax rates, and any applicable exemptions. Compared to the national median property tax rate of 0.99%, Philadelphia's rates reflect the local economic and governmental landscape. Understanding these variables is crucial for homeowners as property taxes can significantly impact annual expenses. Accurate assessments and knowledge of available exemptions can help manage these costs effectively.
Average Philadelphia Tax Bill
$1,196
Average Shelby County Tax Bill
$514
Average Missouri Tax Bill
$1,606
Average United States Tax Bill
$2,690
Property Tax Bills Across Philadelphia, Missouri
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 63463 | $870 | $992 | $1,196 | $1,372 | $1,478 |
Source: Ownwell