Wentworth, Missouri Property Taxes
The median property tax rate in Wentworth, MO is 0.84%, notably lower than both the national median of 0.99% and the Missouri state median of 1.20%. With the median home value in Wentworth, the typical annual property tax bill reaches $675, significantly less than the national median of $2,690. Property taxes in Wentworth 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 Wentworth'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 Wentworth or another part of Lawrence County, understanding the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Wentworth, Missouri Property Tax Bill Calculator
$100,000
$2,500,000
$5,000,000
Average Tax Rate
1.2%
Estimate Property Tax Bill
$2,400
Ownwell’s Wentworth Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Wentworth with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Wentworth 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 Wentworth, Missouri
Property taxes in Wentworth, Missouri, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Wentworth is 0.84%, which is lower than the U.S. national median of 0.99%. Local government entities within Wentworth set these rates annually, and they can vary significantly across different neighborhoods. Each year, Wentworth 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 Wentworth's effective property tax rate to other counties in Missouri and the national median. For comparison, the 64873 zip code has the highest median property tax rate of 0.84%, while the same zip code also has the lowest median tax rate of 0.84%. Understanding how these areas compare with Wentworth provides valuable insights into the varying tax landscape across Lawrence County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Wentworth Tax Rate
0.84%
Average Lawrence County Tax Rate
0.92%
Average Missouri Tax Rate
1.20%
Average United States Tax Rate
0.99%
Property Tax Rates Across Wentworth, Missouri
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 64873 | 0.74% | 0.80% | 0.84% | 0.88% | 0.89% |
Source: Ownwell
Property Tax Assessment Values Across Wentworth, Missouri
In Wentworth, 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 Lawrence 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 Wentworth, 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 Wentworth helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. In Wentworth, the zip code 64873 has the highest median tax bill at $675, while the lowest median tax bill is also in zip code 64873, reflecting a uniform tax landscape.
Average Wentworth Assessed Value
$83,274
Average Lawrence County Assessed Value
$87,220
Average Missouri Assessed Value
$129,505
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Wentworth, Missouri
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 64873 | $30,829 | $46,520 | $83,274 | $139,002 | $194,583 |
Source: Ownwell
Property Tax Bills Across Wentworth, Missouri
In Wentworth, property tax bills are calculated based on the assessed value of a home, which is determined by the county assessor. The median home price in Wentworth is $83,274. Homeowners can expect their tax bill to vary significantly depending on their property's assessed value and the local tax rate. For instance, the 25th percentile tax bill is around $381, while the 75th percentile tax bill reaches $1,166, and the 90th percentile tax bill can go up to $1,651. The tax bill is influenced by various factors, including the property's market value, local tax rates, and any applicable exemptions or deductions. Compared to the national median property tax rate of 0.99%, Wentworth's tax bills suggest a range that can be relatively moderate or significantly higher depending on the property's assessed value. These taxes fund essential public services such as schools, roads, and emergency services, directly impacting homeowners by contributing to the community's overall quality of life.
Average Wentworth Tax Bill
$675
Average Lawrence County Tax Bill
$784
Average Missouri Tax Bill
$1,606
Average United States Tax Bill
$2,690
Property Tax Bills Across Wentworth, Missouri
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 64873 | $247 | $381 | $675 | $1,166 | $1,651 |
Source: Ownwell