Warsaw, Missouri Property Taxes
The median property tax rate in Warsaw, MO is 0.72%, considerably lower than both the national median of 0.99% and the Missouri state median of 1.20%. With the median home value in Warsaw being $20,975, the typical annual property tax bill reaches $152, significantly below the national median of $2,690. Property taxes in Warsaw 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 Warsaw'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 Warsaw 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
Warsaw, Missouri Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.72%
Estimate Property Tax Bill
$151
Ownwell’s Warsaw Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Warsaw with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Warsaw 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 Warsaw, Missouri
Property taxes in Warsaw, Missouri, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Warsaw is 0.72%, which is lower than both the Missouri state median and the U.S. national median of 0.99%. Local government entities within Warsaw set these rates annually, and they can vary significantly across different neighborhoods. Each year, Warsaw 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 Warsaw's effective property tax rate to other counties in Missouri and the national median. For comparison, the 65355 zip code has both the highest and lowest median property tax rate of 0.72%. Understanding how these cities compare with Warsaw provides valuable insights into the varying tax landscape across Hickory County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Warsaw Tax Rate
0.72%
Average Hickory County Tax Rate
0.74%
Average Missouri Tax Rate
1.20%
Average United States Tax Rate
0.99%
Property Tax Rates Across Warsaw, Missouri
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 65355 | 0.72% | 0.72% | 0.72% | 0.72% | 0.72% |
Source: Ownwell
Property Tax Assessment Values Across Warsaw, Missouri
Understanding the difference between "market value" and "assessed value" is crucial for comprehending property taxes in Warsaw, 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 Hickory 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 Warsaw, 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 Warsaw is $20,975, with the highest and lowest median tax bills both being $152 in the 65355 zip code. Being aware of these valuation processes helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Warsaw Assessed Value
$20,975
Average Hickory County Assessed Value
$25,410
Average Missouri Assessed Value
$129,505
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Warsaw, Missouri
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 65355 | $20,731 | $20,822 | $20,975 | $21,128 | $21,219 |
Source: Ownwell
Property Tax Bills Across Warsaw, Missouri
In Warsaw, located in Hickory County, MO, property tax bills are calculated based on the assessed value of a home, which is a percentage of its market value. The median home price in Warsaw is $20,975, and the property tax rate is applied to this assessed value to determine the tax bill. Factors such as property size, location, and condition influence the assessed value, and ultimately the tax amount. For homeowners in Warsaw, the property tax bills can vary slightly. The tax bill at the 25th percentile is $151, while at the 75th percentile, it is $153, and at the 90th percentile, it is $154. This range indicates a relatively narrow spread in tax bills, suggesting a consistent valuation approach within the area. The highest and lowest median tax bill in Warsaw is recorded at $152 in zip code 65355, reflecting uniformity in tax assessments. Compared to the national median property tax rate of 0.99%, Warsaw's property tax bills are significantly lower, providing a more affordable landscape for homeowners. This lower tax burden can make homeownership more accessible and financially manageable in the region.
Average Warsaw Tax Bill
$152
Average Hickory County Tax Bill
$177
Average Missouri Tax Bill
$1,606
Average United States Tax Bill
$2,690
Property Tax Bills Across Warsaw, Missouri
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 65355 | $150 | $151 | $152 | $153 | $154 |
Source: Ownwell