Marquand, Wayne County, Missouri Property Taxes
The median property tax rate in Marquand, MO is 0.75%, significantly lower than both the national median of 0.99% and the Missouri state median of 1.20%. With a median home value of $14,000 in Marquand, the typical annual property tax bill is approximately $105, far below the national median of $2,690. Property taxes in Marquand are calculated based on the tax assessed value, which is generally lower than the market value due to various exemptions such as those for primary residences and agricultural properties. Understanding Marquand's property tax system, exploring available exemptions, and identifying opportunities for reductions can lead to substantial annual savings. Whether you're in the heart of Marquand or elsewhere in the city, having a grasp of the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Marquand, Wayne County, Missouri Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.75%
Estimate Property Tax Bill
$105
$97
Ownwell’s Marquand Property Tax Bill Calculator assists homeowners, real estate investors, and potential buyers in estimating their annual property taxes in Marquand with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Marquand to provide an estimate of your property tax bill. This valuable tool helps you grasp potential tax liabilities. For those interested in more detailed trends at the neighborhood level, additional localized information is available below. Your property’s assessed value is the value assigned by Wayne County for property tax calculations, considering any applicable exemptions.
Property Tax Rates Across Marquand, Wayne County, Missouri
Property taxes in Marquand, Missouri, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Marquand is 0.75%, which is lower than the U.S. national median of 0.99%. Local government entities within Marquand set these rates annually, and they can vary significantly across different neighborhoods. Each year, Marquand 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 Marquand's effective property tax rate to other counties in Missouri and the national median. For comparison, the 63655 zip code has both the highest and lowest median property tax rate of 0.75%. Understanding how these areas compare with Marquand provides valuable insights into the varying tax landscape across Wayne County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Marquand Tax Rate
0.75%
Average Wayne County Tax Rate
0.77%
Average Missouri Tax Rate
1.20%
Average United States Tax Rate
0.99%
Property Tax Rates Across Marquand, Wayne County, Missouri
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 63655 | 0.72% | 0.75% | 0.75% | 0.76% | 0.76% |
Source: Ownwell
Property Tax Assessment Values Across Marquand, Wayne County, Missouri
In Marquand, 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 Wayne 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 Marquand, 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 Marquand helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The zip code with both the highest and lowest median tax bill is 63655, with a median tax bill of $105.
Property Tax Assessment Values Across Marquand, Wayne County, Missouri
Source: Ownwell
$9,800
$22,200
$34,600
Average Marquand Assessed Value
$14,000
Average Wayne County Assessed Value
$16,000
Average Missouri Assessed Value
$129,505
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Marquand, Wayne County, Missouri
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 63655 | $1,100 | $1,100 | $14,000 | $50,200 | $58,500 |
Source: Ownwell
Property Tax Bills Across Marquand, Wayne County, Missouri
In Marquand, located in Wayne County, MO, property tax bills are calculated based on the assessed value of a home and the local tax rate. The assessed value is a percentage of the property's market value, and this value is then multiplied by the local tax rate to determine the tax bill. For instance, with a median home price of $14,000, homeowners can expect tax bills that vary significantly. The 25th percentile tax bill is as low as $8, while the 75th percentile reaches $372, and the 90th percentile can go up to $441. These figures illustrate the range of tax obligations homeowners might face. Despite these variations, the highest median tax bill in the area is $105, which is notably lower than the national median property tax rate of 0.99%. This relatively low property tax burden can be an advantage for homeowners in Marquand, easing the financial demands associated with homeownership.
Average Marquand Tax Bill
$105
Average Wayne County Tax Bill
$122
Average Missouri Tax Bill
$1,606
Average United States Tax Bill
$2,690
Property Tax Bills Across Marquand, Wayne County, Missouri
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 63655 | $8 | $8 | $105 | $372 | $441 |
Source: Ownwell