Essex, Missouri Property Taxes
The median property tax rate in Essex, MO is 0.91%, slightly below the national median of 0.99% and significantly lower than Missouri's state median of 1.20%. With a median home value in Essex, the typical annual property tax bill amounts to $929, which is well below the national median of $2,690. Property taxes in Essex are calculated based on the tax assessed value, which often falls below the market value due to exemptions like the primary residence and agricultural exemptions. Understanding Essex'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 Essex 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
Essex, Missouri Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.91%
Estimate Property Tax Bill
$923
Ownwell’s Essex Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Essex with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Essex 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 Essex, Missouri
Property taxes in Essex, Missouri, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Essex is 0.91%, slightly lower than the U.S. national median of 0.99%. Local government entities within Essex set these rates annually, and they can vary significantly across different neighborhoods. Each year, Essex 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 Essex's effective property tax rate to other areas in Missouri and the national median. For comparison, the zip code 63846 has both the highest and lowest median property tax rate at 0.91%. Understanding how these areas compare with Essex provides valuable insights into the varying tax landscape across Stoddard County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Essex Tax Rate
0.91%
Average Stoddard County Tax Rate
0.85%
Average Missouri Tax Rate
1.20%
Average United States Tax Rate
0.99%
Property Tax Rates Across Essex, Missouri
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 63846 | 0.73% | 0.82% | 0.91% | 1.01% | 1.11% |
Source: Ownwell
Property Tax Assessment Values Across Essex, Missouri
In Essex, 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 Stoddard County Assessor's Office 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 Essex, 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 Essex helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The highest and lowest median tax bills in Essex are both $929.00, found in zip code 63846.
Average Essex Assessed Value
$101,400
Average Stoddard County Assessed Value
$85,450
Average Missouri Assessed Value
$129,505
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Essex, Missouri
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 63846 | $20,380 | $52,700 | $101,400 | $149,250 | $220,380 |
Source: Ownwell
Property Tax Bills Across Essex, Missouri
In Essex, Missouri, property tax bills are calculated based on the assessed value of a homeowner's property, which is determined by the county assessor. The assessed value is a percentage of the property's market value. Several factors influence the final tax bill, including the property's location, size, and any improvements made. The median home price in Essex is $101,400, and the property tax rate is applied to this assessed value. Homeowners in Essex can expect their property tax bills to vary significantly. For instance, the 25th percentile tax bill is $507, while the 75th percentile reaches $1,398. At the 90th percentile, the tax bill can be as high as $1,982. These property taxes fund essential local services such as schools, public safety, and infrastructure. Compared to the national median property tax rate of 0.99%, Essex's rates are relatively moderate, making it a potentially more affordable option for homeowners.
Average Essex Tax Bill
$929
Average Stoddard County Tax Bill
$758
Average Missouri Tax Bill
$1,606
Average United States Tax Bill
$2,690
Property Tax Bills Across Essex, Missouri
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 63846 | $204 | $507 | $929 | $1,398 | $1,982 |
Source: Ownwell