Lake Winnebago, Missouri Property Taxes
The median property tax rate in Lake Winnebago, MO is 1.63%, considerably higher than both the national median of 0.99% and Missouri's state median of 1.20%. With the median home value in Lake Winnebago at $592,620, the typical annual property tax bill reaches $9,789, significantly exceeding the national median of $2,690. Property taxes in Lake Winnebago are calculated based on the tax assessed value, which typically falls below the market value due to various exemptions like the primary residence and agricultural exemptions. Understanding Lake Winnebago'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 Lake Winnebago 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
Lake Winnebago, Missouri Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.63%
Estimate Property Tax Bill
$9,660
Ownwell’s Lake Winnebago Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Lake Winnebago with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Lake Winnebago 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 Lake Winnebago, Missouri
Property taxes in Lake Winnebago, Missouri, are essential in funding critical local services such as public schools, road maintenance, and emergency services. The median tax rate in Lake Winnebago is 1.63%, significantly higher than both the Missouri state median and the U.S. national median of 0.99%. Local government entities within Lake Winnebago set these rates annually, and they can vary significantly across different neighborhoods. Each year, Lake Winnebago 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 Lake Winnebago's effective property tax rate to other areas in Missouri and the national median. For comparison, the 64034 zip code has the highest median property tax rate of 1.63%, while the same zip code also has the lowest median tax rate of 1.63%. Understanding how these areas compare with Lake Winnebago provides valuable insights into the varying tax landscape across Cass County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Lake Winnebago Tax Rate
1.63%
Average Cass County Tax Rate
1.46%
Average Missouri Tax Rate
1.20%
Average United States Tax Rate
0.99%
Property Tax Rates Across Lake Winnebago, Missouri
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 64034 | 1.63% | 1.63% | 1.63% | 1.73% | 1.73% |
Source: Ownwell
Property Tax Assessment Values Across Lake Winnebago, Missouri
In Lake Winnebago, 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 Cass 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 Lake Winnebago, 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 Lake Winnebago helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The highest and lowest median tax bills in the area are both $9,789, found in zip code 64034.
Property Tax Assessment Values Across Lake Winnebago, Missouri
Source: Ownwell
$48,030
$329,300
$610,570
Average Lake Winnebago Assessed Value
$592,620
Average Cass County Assessed Value
$149,060
Average Missouri Assessed Value
$129,505
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Lake Winnebago, Missouri
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 64034 | $12,613 | $492,592 | $592,620 | $725,992 | $861,977 |
Source: Ownwell
Property Tax Bills Across Lake Winnebago, Missouri
In LAKE WINNEBAGO, located in Cass County, MO, property tax bills are calculated based on the assessed value of a home. The assessed value is typically a percentage of the property's market value, which is determined by local assessors. Factors such as the size, location, and condition of the home play a significant role in this assessment. Homeowners in LAKE WINNEBAGO can expect property tax bills to vary widely. For instance, the 25th percentile tax bill is around $8,264, while the 75th percentile reaches up to $12,108. At the higher end, the 90th percentile tax bill can be as much as $14,347. This variation reflects differences in property values and assessed rates. Compared to the national median property tax rate of 0.99%, homeowners in LAKE WINNEBAGO face a unique tax landscape. Understanding these factors can help homeowners anticipate their annual tax obligations and plan accordingly.
Average Lake Winnebago Tax Bill
$9,789
Average Cass County Tax Bill
$2,217
Average Missouri Tax Bill
$1,606
Average United States Tax Bill
$2,690
Property Tax Bills Across Lake Winnebago, Missouri
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 64034 | $196 | $8,264 | $9,789 | $12,108 | $14,347 |
Source: Ownwell