Centralia, Missouri Property Taxes
The median property tax rate in Centralia, MO is 1.15%, slightly higher than the national median of 0.99% but lower than Missouri's state median of 1.20%. With a median home value in Centralia of $71,160, the typical annual property tax bill reaches $778, which is significantly below the national median of $2,690. Property taxes in Centralia are calculated based on the tax assessed value, often lower than the market value due to various exemptions such as those for primary residences and agricultural properties. Understanding Centralia'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 Centralia 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
Centralia, Missouri Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.15%
Estimate Property Tax Bill
$818
Ownwell’s Centralia Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Centralia with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Centralia 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 Centralia, Missouri
Property taxes in Centralia, Missouri, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Centralia is 1.15%, higher than both the Missouri state median and the U.S. national median of 0.99%. Local government entities within Centralia set these rates annually, and they can vary significantly across different neighborhoods. Each year, Centralia 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 Centralia's effective property tax rate to other counties in Missouri and the national median. For comparison, the 65240 zip code has the highest median property tax rate of 1.15%, while the 65240 zip code also has the lowest median tax rate of 1.15%. Understanding how these cities compare with Centralia provides valuable insights into the varying tax landscape across Audrain County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Centralia Tax Rate
1.15%
Average Audrain County Tax Rate
1.20%
Average Missouri Tax Rate
1.20%
Average United States Tax Rate
0.99%
Property Tax Rates Across Centralia, Missouri
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 65240 | 0.71% | 0.85% | 1.15% | 1.20% | 1.20% |
Source: Ownwell
Property Tax Assessment Values Across Centralia, Missouri
In Centralia, 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 Audrain 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 Centralia, 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 Centralia helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The median home price in Centralia is $71,160, with median tax bills ranging from $526 at the 25th percentile to $1,451 at the 90th percentile. The zip code with both the highest and lowest median tax bill is 65240, with a value of $778.
Average Centralia Assessed Value
$71,160
Average Audrain County Assessed Value
$51,626
Average Missouri Assessed Value
$129,505
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Centralia, Missouri
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 65240 | $25,963 | $49,230 | $71,160 | $105,371 | $140,284 |
Source: Ownwell
Property Tax Bills Across Centralia, Missouri
In Centralia, property tax bills are calculated based on the assessed value of a home, which is determined by the local tax assessor. The assessed value is a percentage of the home's market value. Various factors such as property size, location, and improvements are considered in this valuation process. Once the assessed value is determined, it is multiplied by the local tax rate to calculate the tax bill. For homeowners in Centralia, the median home price stands at $71,160. Property taxes can vary significantly, with tax bills at the 25th percentile being $526, while those at the 75th percentile reach $1,088. At the 90th percentile, tax bills can go as high as $1,451. Comparatively, the national median property tax rate is 0.99%, making it essential for homeowners to understand how local rates and assessed values impact their annual tax obligations. This variability can significantly affect budgeting and financial planning for homeowners in the region.
Average Centralia Tax Bill
$778
Average Audrain County Tax Bill
$587
Average Missouri Tax Bill
$1,606
Average United States Tax Bill
$2,690
Property Tax Bills Across Centralia, Missouri
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 65240 | $316 | $526 | $778 | $1,088 | $1,451 |
Source: Ownwell