University City, Missouri Property Taxes
The median property tax rate in University City, MO is 1.34%, considerably higher than both the national median of 0.99% and the Missouri state median of 1.20%. With the median home value in University City at $573,900, the typical annual property tax bill reaches $7,721, far exceeding the national median of $2,690. Property taxes in University City are calculated based on the assessed value, which typically falls below the market value due to various exemptions like the primary residence and agricultural exemptions. Understanding University City'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 University City 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
University City, 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 University City Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in University City with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in University City 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 University City, Missouri
Property taxes in University City, Missouri, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in University City is 1.34%, higher than the U.S. national median of 0.99%. Local government entities within University City set these rates annually, and they can vary significantly across different neighborhoods. Each year, University City 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 University City's effective property tax rate to other counties in Missouri and the national median. For comparison, the 63130 zip code has the highest median property tax rate of 1.34%, while the same zip code also has the lowest median tax rate of 1.34%. Understanding how these cities compare with University City provides valuable insights into the varying tax landscape across St. Louis County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average University City Tax Rate
1.34%
Average St. Louis County Tax Rate
1.35%
Average Missouri Tax Rate
1.20%
Average United States Tax Rate
0.99%
Property Tax Rates Across University City, Missouri
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 63130 | 1.33% | 1.33% | 1.34% | 1.35% | 1.35% |
Source: Ownwell
Property Tax Assessment Values Across University City, Missouri
Understanding the difference between "market value" and "assessed value" is crucial for comprehending property taxes in University City, 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 St. Louis 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 University City, 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. The median home price in University City is $573,900, with tax bills ranging from $6,561 at the 25th percentile to $9,958 at the 90th percentile. 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 helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Property Tax Assessment Values Across University City, Missouri
Source: Ownwell
$45,100
$756,500
$1,467,900
Average University City Assessed Value
$573,900
Average St. Louis County Assessed Value
$226,500
Average Missouri Assessed Value
$129,505
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across University City, Missouri
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 63130 | $408,160 | $487,100 | $573,900 | $659,600 | $746,280 |
Source: Ownwell
Property Tax Bills Across University City, Missouri
In University City, property tax bills are calculated based on the assessed value of a home, which is determined by the St. Louis County Assessor's Office. The assessed value is a percentage of the market value of the property. Homeowners in University City can expect their tax bills to be influenced by the median home price of $573,900. Property tax rates in this area are notably higher than the national median of 0.99%, with tax bills ranging from $6,561 at the 25th percentile to $9,958 at the 90th percentile. Several factors influence the final tax bill, including the property's assessed value, local tax rates, and any applicable exemptions or deductions. These factors collectively determine the financial responsibility of homeowners, impacting their annual expenses significantly. For instance, the highest median tax bill in the area is $7,721, found in zip code 63130. Understanding these elements can help homeowners better anticipate their tax obligations and plan their finances accordingly.
Average University City Tax Bill
$7,721
Average St. Louis County Tax Bill
$3,143
Average Missouri Tax Bill
$1,606
Average United States Tax Bill
$2,690
Property Tax Bills Across University City, Missouri
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 63130 | $5,506 | $6,561 | $7,721 | $8,792 | $9,958 |
Source: Ownwell