Mexico, Callaway County, Missouri Property Taxes
Median Mexico, MO effective property tax rate: 1.06%, slightly higher than the national median of 1.02%, but lower than the Missouri state median of 1.20%.
Median Mexico, MO home value: $175,840
Median annual Mexico, MO tax bill: $1,912, $488 lower than the national median property tax bill of $2,400.
How are property taxes in Callaway County calculated?
Property taxes in Mexico, MO are calculated based on the tax assessed value, which is often lower than the actual market value due to property tax exemptions such as the homestead or senior exemption.
Understanding Mexico’s property tax system, exemptions, and reduction opportunities can lead to significant savings. Regardless of where you live in Mexico, knowing local tax details benefits homeowners and investors.
Last Updated March 1, 2025
Mexico, Callaway County, Missouri Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Median Effective Tax Rate
1.06%
Estimate Property Tax Bill
$1,864
$1,730
Property Tax Rates Across Mexico, Callaway County, Missouri
Local government entities set tax rates, which can vary widely within a state. This is because each county estimates its required budget to provide services annually and divides that by the total value of all taxable property within its jurisdiction, resulting in the property tax rate. Although votes and laws play a role in setting tax rates and budgets, this is the annual process in a nutshell.
In Mexico, located in Callaway County, Missouri, the effective property tax rate is a reflection of this process. When compared to other cities in Missouri, Mexico's rate is aligned with the state's median property tax rate of 1.06%. This is slightly above the national median property tax rate of 1.02%, which means residents in Mexico may experience a marginally higher property tax burden than the average American homeowner. However, the actual tax bill will depend on the assessed value of the property. Understanding these nuances is crucial for property owners looking to manage their expenses effectively.
Our median effective property tax rate (tax bill ÷ assessor's market value) accounts for exemptions and deductions, making it more accurate than the general median tax rate, which is the midpoint of statutory rates before adjustments.
Median Effective Mexico Tax Rate
1.06%
Our median effective property tax rate (tax bill ÷ assessor's market value) accounts for exemptions and deductions, making it more accurate than the general median tax rate, which is the midpoint of statutory rates before adjustments.
Median Effective Callaway County Tax Rate
1.19%
Median Effective Missouri Tax Rate
1.20%
Median Effective United States Tax Rate
1.02%
Property Tax Rates Across Mexico, Callaway County, Missouri
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 65265 | N/A | N/A | N/A | N/A | N/A |
Source: Ownwell
Property Tax Assessment Values Across Mexico, Callaway County, Missouri
When examining property taxes in Mexico, Missouri, understanding the distinction between "market value" and "assessed value" is crucial. The market value is what a willing buyer would pay to a willing seller in an open and competitive market, often influenced by location, property condition, and economic market trends. The Callaway County Assessor estimates the market value for tax purposes. The assessed value is the market value minus any applicable exemptions or limits determined by local laws and offerings. The tax assessed value is the figure used to calculate your property taxes or the amount multiplied by your tax rate to get your tax bill.
In Callaway County, assessment notices are sent in the spring each year. They’ll typically reach your mailbox by the middle of May. Each property owner receives an assessment notice that contains both the market value and assessed value, along with an estimate of your property tax bill. By providing insights into how assessed and market values are determined, this section helps property owners navigate their tax responsibilities and understand the valuation processes affecting their property taxes in Mexico.
For example, the median home price in Mexico is $175,840, with tax bills ranging significantly across the county.
Property Tax Assessment Values Across Mexico, Callaway County, Missouri
Source: Ownwell
$41,010
$92,250
$143,490
Median Mexico Market Value
$175,840
Median Callaway County Market Value
$118,130
Median Missouri Market Value
$129,505
Median United States Market Value
$235,294
Property Tax Assessment Values Across Mexico, Callaway County, Missouri
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 65265 | N/A | N/A | N/A | N/A | N/A |
Source: Ownwell
Property Tax Bills Across Mexico, Callaway County, Missouri
In Mexico, located in Callaway County, MO, property tax bills are determined by assessing the property's market value and applying the local tax rate. The median home price in this area is $175,840. Homeowners in Mexico face property tax bills that range significantly, with the 25th percentile at $1,065 and the 75th percentile reaching $3,404. The 90th percentile tax bill climbs to $4,933, illustrating a wide variation in tax obligations. These figures are notably higher than the national median property tax bill of $2,400, with Mexico's median tax rate surpassing the national median rate of 1.02%.
Property taxes can significantly impact homeowners, affecting monthly budgets and long-term financial planning. This is where Ownwell can make a difference. By offering expert property tax appeal and exemption services, Ownwell helps homeowners potentially reduce their tax bills. Through careful analysis and a strategic approach, Ownwell identifies opportunities for savings, ensuring that homeowners in Mexico pay only their fair share.
Median Mexico Tax Bill
$1,912
Median Callaway County Tax Bill
$1,342
Median Missouri Tax Bill
$1,606
Median United States Tax Bill
$2,400
Property Tax Bills Across Mexico, Callaway County, Missouri
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 65265 | N/A | N/A | N/A | N/A | N/A |
Source: Ownwell