63555 Property Tax Rate

Property owners in ZIP code 63555 (Memphis, Missouri) pay a median of $1,132/year in property taxes on homes valued at $142,600. This translates to an effective tax rate of 0.79%, which is near the Missouri state average of 0.78%.

The monthly property tax burden for a median-valued home in 63555 is approximately $94, which factors into escrow payments on mortgages. This ZIP code is located within Scotland County. This is $244 less than the Missouri average of $1,376/year.

Compared to similar ZIP codes in Missouri, 63555 has lower property taxes. ZIP codes with similar effective rates include 64836 (0.79%) and 63352 (0.79%).

In Memphis, property taxes represent approximately 1.7% of the median household income of $65,096, providing context for the relative tax burden on homeowners in this area.

Missouri performs full reassessment to market value at sale without annual increase caps for new owners, potentially doubling or tripling your property tax from prior amounts. Scotland County residents may qualify for Homestead Exemption and Senior Exemption (age 65+) — contact the Scotland County Assessor's office immediately after purchase to file and secure relief. Request your Detailed Assessment Notice within 30 days of closing and compare the assessed value to recent comparable sales; file a formal appeal before the deadline if you identify significant overvaluation.