63869 Property Tax Rate

Property owners in ZIP code 63869 (New Madrid, Missouri) pay a median of $740/year in property taxes on homes valued at $126,200. This translates to an effective tax rate of 0.59%, which is 25% below the Missouri state average of 0.78%.

The monthly property tax burden for a median-valued home in 63869 is approximately $62, which factors into escrow payments on mortgages. This ZIP code is located within New Madrid County. This is $636 less than the Missouri average of $1,376/year.

Compared to similar ZIP codes in Missouri, 63869 has higher property taxes. ZIP codes with similar effective rates include 63030 (0.59%) and 65560 (0.59%).

In New Madrid, property taxes represent approximately 1.5% of the median household income of $50,521, providing context for the relative tax burden on homeowners in this area.

Missouri reassesses property to fair market value at sale, with no statewide annual increase cap for homeowners, so expect a full reassessment based on your purchase price. New Madrid County provides a Homestead Property Tax Exemption available to owner-occupants of primary residences — file your claim with the New Madrid County Assessor's Office to reduce your assessed value. Contact the New Madrid County Assessor within 30 days of closing to submit your homestead exemption application and verify your assessment.