Macomb, Missouri Property Taxes
The median property tax rate in Macomb, MO is 0.67%, which is notably lower than both the national median of 0.99% and the Missouri state median of 1.20%. With the median home value in Macomb at $60,394, the typical annual property tax bill is $410, significantly below the national median of $2,690. Property taxes in Macomb are calculated based on the tax assessed value, often less than the market value due to various exemptions like the primary residence and agricultural exemptions. Understanding Macomb'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 Macomb 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
Macomb, Missouri Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.67%
Estimate Property Tax Bill
$405
Ownwell’s Macomb Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Macomb with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Macomb 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 Macomb, Missouri
Property taxes in Macomb, Missouri, are essential for funding critical local services such as public schools, road maintenance, and emergency services. The median tax rate in Macomb is 0.67%, which is lower than the U.S. national median of 0.99%. Local government entities within Macomb set these rates annually, and they can vary significantly across different neighborhoods. Each year, Macomb 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 Macomb's effective property tax rate to other counties in Missouri and the national median. For comparison, the zip code 65702 has the highest median property tax rate of 0.67%, while the same zip code also has the lowest median tax rate of 0.67%. Understanding how these areas compare with Macomb provides valuable insights into the varying tax landscape across Wright County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Macomb Tax Rate
0.67%
Average Wright County Tax Rate
0.60%
Average Missouri Tax Rate
1.20%
Average United States Tax Rate
0.99%
Property Tax Rates Across Macomb, Missouri
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 65702 | 0.64% | 0.65% | 0.67% | 0.70% | 0.73% |
Source: Ownwell
Property Tax Assessment Values Across Macomb, Missouri
In Macomb, 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 Wright 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 Macomb, 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 example, the zip code 65702 has the highest median tax bill at $410, while the lowest is also in the 65702 zip code. Being aware of these valuation processes helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Macomb Assessed Value
$60,394
Average Wright County Assessed Value
$57,736
Average Missouri Assessed Value
$129,505
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Macomb, Missouri
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 65702 | $16,847 | $28,394 | $60,394 | $107,855 | $169,737 |
Source: Ownwell
Property Tax Bills Across Macomb, Missouri
In Macomb, Wright County, MO, property tax bills are calculated based on the assessed value of a home, which is a percentage of its market value. The local tax rate is then applied to this assessed value to determine the total tax bill. Factors such as property type, location, and any applicable exemptions or deductions also play a crucial role in determining the final amount. For instance, the median home price in Macomb is $60,394, and property tax bills can vary significantly. At the 25th percentile, homeowners might pay around $209, while at the 75th percentile, the bill could rise to approximately $721. Those at the 90th percentile might see a tax bill as high as $1,086. These variations highlight how different factors influence the tax burden on homeowners. Compared to the national median property tax rate of 0.99%, Macomb's rates can offer some relief, but individual circumstances and property values will ultimately determine the exact tax amount.
Average Macomb Tax Bill
$410
Average Wright County Tax Bill
$358
Average Missouri Tax Bill
$1,606
Average United States Tax Bill
$2,690
Property Tax Bills Across Macomb, Missouri
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 65702 | $124 | $209 | $410 | $721 | $1,086 |
Source: Ownwell