Wittmann, Missouri Property Taxes
The median property tax rate in Wittmann, MO is 1.59%, significantly higher than both the national median of 0.99% and the Missouri state median of 1.20%. With the median home value in Wittmann at $3,600, the typical annual property tax bill is $57, which is considerably lower than the national median of $2,690. Property taxes in Wittmann are calculated based on the tax assessed value, which usually falls below the market value due to various exemptions such as primary residence and agricultural exemptions. Understanding Wittmann's property tax system, exploring available exemptions, and identifying opportunities for reductions can lead to substantial annual savings. Whether you're in the heart of Wittmann or another part of Morgan County, understanding the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Wittmann, 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 Wittmann Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Wittmann with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Wittmann 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 Morgan County for property tax calculations, accounting for any exemptions that may apply.
Property Tax Rates Across Wittmann, Missouri
Property taxes in Wittmann, Missouri, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Wittmann is 1.59%, significantly higher than the U.S. national median of 0.99%. Local government entities within Wittmann set these rates annually, and they can vary across different neighborhoods. Each year, Wittmann 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 Wittmann's effective property tax rate to other areas and the national median. For comparison, the 85361 zip code has the highest median property tax rate of 1.59%, while the same zip code also has the lowest median tax rate of 1.59%. Understanding how these cities compare with Wittmann provides valuable insights into the varying tax landscape across Morgan County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Wittmann Tax Rate
1.59%
Average Morgan County Tax Rate
0.87%
Average Missouri Tax Rate
1.20%
Average United States Tax Rate
0.99%
Property Tax Rates Across Wittmann, Missouri
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 85361 | 1.59% | 1.59% | 1.59% | 1.59% | 1.59% |
Source: Ownwell
Property Tax Assessment Values Across Wittmann, Missouri
In Wittmann, 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 Wittmann, 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 Wittmann helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The median home price in Wittmann is $3,600, with the 25th, 75th, and 90th percentile tax bills all at $57.
Average Wittmann Assessed Value
$3,600
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 Wittmann, Missouri
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 85361 | $3,600 | $3,600 | $3,600 | $3,600 | $3,600 |
Source: Ownwell
Property Tax Bills Across Wittmann, Missouri
In Wittmann, located in Morgan County, MO, property tax bills are calculated based on the assessed value of a home. The assessed value is determined by the county assessor and is typically a percentage of the property's market value. For homeowners in Wittmann, the median home price is relatively low at $3,600. The tax rate is applied to this assessed value to determine the annual tax bill. Several factors influence the final tax amount, including the local tax rate and any applicable exemptions or deductions. Homeowners in Wittmann can expect tax bills to vary, with the 25th, 75th, and 90th percentiles all showing a consistent tax bill of $57. This suggests a relatively uniform tax burden across different property values in the area. Compared to the national median property tax rate of 0.99%, Wittmann's property taxes are significantly lower, providing some relief to homeowners. However, it's essential for property owners to stay informed about any changes in local tax rates or property assessments that could impact their annual tax obligations.
Average Wittmann Tax Bill
$57
Average Morgan County Tax Bill
$420
Average Missouri Tax Bill
$1,606
Average United States Tax Bill
$2,690
Property Tax Bills Across Wittmann, Missouri
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 85361 | $57 | $57 | $57 | $57 | $57 |
Source: Ownwell