Wellsville, Missouri Property Taxes
The median property tax rate in Wellsville, MO is 1.03%, slightly higher than the national median of 0.99% but lower than the Missouri state median of 1.20%. With the median home value in Wellsville at $207,220, the typical annual property tax bill comes to $2,202, which is below the national median of $2,690. Property taxes in Wellsville are based on the assessed value, which generally falls below the market value due to exemptions like the primary residence and agricultural exemptions. Understanding Wellsville's property tax system, exploring available exemptions, and identifying opportunities for reductions can lead to significant annual savings. Whether you're in the heart of Wellsville or another part of Callaway County, understanding the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Wellsville, Missouri Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.03%
Estimate Property Tax Bill
$2,134
Ownwell’s Wellsville Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Wellsville with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Wellsville 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 Wellsville, Missouri
Property taxes in Wellsville, Missouri, are vital in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Wellsville is 1.03%, higher than both the Missouri state median and the U.S. national median of 0.99%. Local government entities within Wellsville set these rates annually, and they can vary significantly across different neighborhoods. Each year, Wellsville 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 Wellsville's effective property tax rate to other counties in Missouri and the national median. For comparison, the 63384 zip code has the highest median property tax rate of 1.03%, while the same zip code also has the lowest median tax rate of 1.03%. Understanding how these cities compare with Wellsville provides valuable insights into the varying tax landscape across Callaway County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Wellsville Tax Rate
1.03%
Average Callaway County Tax Rate
1.19%
Average Missouri Tax Rate
1.20%
Average United States Tax Rate
0.99%
Property Tax Rates Across Wellsville, Missouri
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 63384 | 0.96% | 1.00% | 1.03% | 1.04% | 1.07% |
Source: Ownwell
Property Tax Assessment Values Across Wellsville, Missouri
Understanding the difference between "market value" and "assessed value" is crucial for comprehending property taxes in Wellsville, Missouri. 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 Callaway County Appraisal District 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 Wellsville, 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. The median home price in Wellsville is $207,220, with tax bills ranging from $1,912 at the 25th percentile to $2,586 at the 90th percentile. Being aware of these valuation processes helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Wellsville Assessed Value
$207,220
Average Callaway County Assessed Value
$118,130
Average Missouri Assessed Value
$129,505
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Wellsville, Missouri
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 63384 | $132,376 | $182,370 | $207,220 | $251,125 | $258,308 |
Source: Ownwell
Property Tax Bills Across Wellsville, Missouri
In Wellsville, property tax bills are calculated based on the assessed value of a home, which is typically a percentage of its market value. For instance, a median home price in Wellsville stands at $207,220. The tax rate is then applied to this assessed value to determine the annual tax bill. In Callaway County, the median property tax bill is $2,202, which is higher than the national median property tax rate of 0.99%. Several factors influence the final tax bill, including the home's location, size, and any applicable exemptions or deductions. Homeowners in Wellsville can expect their tax bills to vary, with the 25th percentile bill at $1,912 and the 75th percentile bill at $2,438. At the 90th percentile, tax bills can go up to $2,586, reflecting the differences in property values and assessments. Understanding these factors is crucial for homeowners as property taxes can significantly impact their annual expenses and overall financial planning.
Average Wellsville Tax Bill
$2,202
Average Callaway County Tax Bill
$1,342
Average Missouri Tax Bill
$1,606
Average United States Tax Bill
$2,690
Property Tax Bills Across Wellsville, Missouri
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 63384 | $1,332 | $1,912 | $2,202 | $2,438 | $2,586 |
Source: Ownwell