Winfield, Missouri Property Taxes
The median property tax rate in Winfield, MO is 1.13%, slightly higher than the national median of 0.99% but lower than the Missouri state median of 1.20%. With a median home value of $143,180 in Winfield, the typical annual property tax bill amounts to $1,609, which is below the national median of $2,690. Property taxes in Winfield are calculated based on the tax assessed value, often lower than the market value due to exemptions such as those for primary residences and agricultural properties. Understanding Winfield'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 Winfield or another part of Lincoln County, grasping the local property tax intricacies will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Winfield, Missouri Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.13%
Estimate Property Tax Bill
$1,618
Ownwell’s Winfield Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Winfield with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Winfield 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 Winfield, Missouri
Property taxes in Winfield, Missouri, play a crucial role in supporting key local services such as public schools, road maintenance, and emergency services. The median tax rate in Winfield is 1.13%, which is notably higher than the U.S. national median of 0.99%. Local government entities within Winfield set these rates annually, and they can vary significantly across different neighborhoods. Each year, Winfield 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 Winfield's effective property tax rate to other counties in Missouri and the national median. For comparison, the zip code 63389 has both the highest and lowest median property tax rate of 1.13%. Understanding how these areas compare with Winfield provides valuable insights into the varying tax landscape across Lincoln County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Winfield Tax Rate
1.13%
Average Lincoln County Tax Rate
1.17%
Average Missouri Tax Rate
1.20%
Average United States Tax Rate
0.99%
Property Tax Rates Across Winfield, Missouri
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 63389 | 1.08% | 1.09% | 1.13% | 1.17% | 1.18% |
Source: Ownwell
Property Tax Assessment Values Across Winfield, Missouri
In Winfield, 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 Lincoln 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 Winfield, 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 Winfield helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The highest median tax bill in the area is $1609 in the 63389 zip code, while the lowest median tax bill is also $1609 in the same zip code.
Average Winfield Assessed Value
$143,180
Average Lincoln County Assessed Value
$149,220
Average Missouri Assessed Value
$129,505
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Winfield, Missouri
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 63389 | $17,292 | $62,650 | $143,180 | $168,580 | $234,466 |
Source: Ownwell
Property Tax Bills Across Winfield, Missouri
In Winfield, located in Lincoln 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 Winfield is $143,180. Homeowners' tax bills can vary significantly, with the 25th percentile at $748 and the 75th percentile reaching $1,936. For those in the 90th percentile, tax bills can go up to $2,631. Several factors influence these tax bills, including the home's assessed value, the local tax rate, and any applicable exemptions. The assessed value is determined by the county assessor and reflects a portion of the home's market value. The local tax rate is applied to this assessed value to calculate the tax bill. These property taxes directly impact homeowners by contributing to local services such as schools, public safety, and infrastructure. Understanding how these elements interact helps homeowners anticipate their property tax obligations and plan accordingly.
Average Winfield Tax Bill
$1,609
Average Lincoln County Tax Bill
$1,734
Average Missouri Tax Bill
$1,606
Average United States Tax Bill
$2,690
Property Tax Bills Across Winfield, Missouri
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 63389 | $197 | $748 | $1,609 | $1,936 | $2,631 |
Source: Ownwell