Centralia, Missouri Property Taxes
The median property tax rate in Centralia, MO is 0.93%, which is lower than both the national median of 0.99% and the Missouri state median of 1.20%. With the median home value in Centralia at $291,600, the typical annual property tax bill amounts to $2,705, slightly below the national median of $2,690. Property taxes in Centralia are calculated based on the assessed value, which is often lower than the market value due to exemptions such as those for primary residences and agricultural properties. Understanding Centralia'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 Centralia 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
Centralia, Missouri Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.93%
Estimate Property Tax Bill
$2,712
Ownwell’s Centralia Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Centralia with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Centralia 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 Centralia, Missouri
Property taxes in Centralia, Missouri, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Centralia is 0.93%, which is slightly lower than the U.S. national median of 0.99%. Local government entities within Centralia set these rates annually, and they can vary significantly across different neighborhoods. Each year, Centralia 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 Centralia's effective property tax rate to other regions in Missouri and the national median. For comparison, the zip code 65240 has both the highest and lowest median property tax rate of 0.93%, indicating a uniform rate across the region. Understanding how these areas compare with Centralia provides valuable insights into the varying tax landscape across Boone County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Centralia Tax Rate
0.93%
Average Morgan County Tax Rate
0.87%
Average Missouri Tax Rate
1.20%
Average United States Tax Rate
0.99%
Property Tax Rates Across Centralia, Missouri
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 65240 | 0.93% | 0.93% | 0.93% | 0.93% | 0.93% |
Source: Ownwell
Property Tax Assessment Values Across Centralia, Missouri
In Centralia, 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 Morgan 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 Centralia, 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 Centralia helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The highest and lowest median tax bills in Centralia are both $2,705, found in the 65240 zip code.
Average Centralia Assessed Value
$291,600
Average Morgan County Assessed Value
$49,350
Average Missouri Assessed Value
$129,505
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Centralia, Missouri
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 65240 | $291,600 | $291,600 | $291,600 | $291,600 | $291,600 |
Source: Ownwell
Property Tax Bills Across Centralia, Missouri
In Centralia, property tax bills are calculated based on the assessed value of a home, which is determined by the county assessor. The assessed value is a percentage of the property's market value. Homeowners in Centralia, located in Morgan County, typically see a median tax bill of $2,705, which is consistent across various percentiles, indicating a uniform tax rate within the area. This rate is notably higher than the national median property tax rate of 0.99%. The tax bill is influenced by several factors, including the property's market value, local tax rates, and any applicable exemptions. For homeowners, this tax bill represents a significant annual expense that can impact overall housing affordability. Understanding how these taxes are calculated can help homeowners budget more effectively and seek potential exemptions to reduce their financial burden.
Average Centralia Tax Bill
$2,705
Average Morgan County Tax Bill
$420
Average Missouri Tax Bill
$1,606
Average United States Tax Bill
$2,690
Property Tax Bills Across Centralia, Missouri
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 65240 | $2,705 | $2,705 | $2,705 | $2,705 | $2,705 |
Source: Ownwell