Mc Gee, Wayne County, Missouri Property Taxes
The median property tax rate in MC GEE, MO is 0.69%, considerably lower than both the national median of 0.99% and the Missouri state median of 1.20%. With the median home value in MC GEE, the typical annual property tax bill reaches $158, significantly below the national median of $2,690. Property taxes in MC GEE are calculated based on the tax assessed value, which typically falls below the market value due to various exemptions like the primary residence and agricultural exemptions. Understanding MC GEE'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 MC GEE or another part of Wayne County, understanding the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Mc Gee, Wayne County, Missouri Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.69%
Estimate Property Tax Bill
$175
$162
Ownwell’s MC GEE Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in MC GEE with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in MC GEE 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 Mc Gee, Wayne County, Missouri
Property taxes in MC GEE, Missouri, are vital in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in MC GEE is 0.69%, lower than both the Missouri state median and the U.S. national median of 0.99%. Local government entities within MC GEE set these rates annually, and they can vary significantly across different neighborhoods. Each year, MC GEE 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 MC GEE's effective property tax rate to other counties in Missouri and the national median. For comparison, the 63763 zip code has both the highest and lowest median property tax rate of 0.69%. Understanding how these cities compare with MC GEE 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 Mc Gee Tax Rate
0.69%
Average Wayne County Tax Rate
0.77%
Average Missouri Tax Rate
1.20%
Average United States Tax Rate
0.99%
Property Tax Rates Across Mc Gee, Wayne County, Missouri
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 63763 | 0.61% | 0.65% | 0.69% | 0.70% | 0.70% |
Source: Ownwell
Property Tax Assessment Values Across Mc Gee, Wayne County, Missouri
In MC GEE, 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 local 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 MC GEE, 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 MC GEE helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. For example, in Wayne County, the highest median tax bill is $158.00 in the 63763 zip code, while the lowest median tax bill is also $158.00 in the same zip code.
Property Tax Assessment Values Across Mc Gee, Wayne County, Missouri
Source: Ownwell
$9,800
$22,200
$34,600
Average Mc Gee Assessed Value
$25,300
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 Mc Gee, Wayne County, Missouri
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 63763 | $2,100 | $8,350 | $25,300 | $67,975 | $96,670 |
Source: Ownwell
Property Tax Bills Across Mc Gee, Wayne County, Missouri
In MC GEE, located in Wayne County, MO, property tax bills are calculated based on the assessed value of a home, which is a percentage of its market value. Typically, local assessors determine this value, considering factors such as the size, location, and condition of the property. Homeowners in MC GEE can expect their property tax bills to vary significantly. For instance, the tax bill at the 25th percentile is around $52, while at the 75th percentile, it reaches $455, and at the 90th percentile, it can go up to $624. These variations reflect differences in property values and assessment rates within the area. Compared to the national median property tax rate of 0.99%, MC GEE has a relatively lower median tax bill. This means homeowners might experience less financial strain from property taxes than in other regions. However, understanding how these taxes are calculated and staying informed about local assessments can help residents manage their financial planning more effectively.
Average Mc Gee Tax Bill
$158
Average Wayne County Tax Bill
$122
Average Missouri Tax Bill
$1,606
Average United States Tax Bill
$2,690
Property Tax Bills Across Mc Gee, Wayne County, Missouri
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 63763 | $15 | $52 | $158 | $455 | $624 |
Source: Ownwell