Waldron, Missouri Property Taxes
The median property tax rate in Waldron, MO is 1.43%, considerably higher than both the national median of 0.99% and the Missouri state median of 1.20%. With the median home value in Waldron at $112,143, the typical annual property tax bill reaches $1,410, which is below the national median of $2,690. Property taxes in Waldron are calculated based on the tax assessed value, often lower than the market value due to exemptions like primary residence and agricultural exemptions. Understanding Waldron'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 Waldron or another part of Platte County, understanding the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Waldron, Missouri Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.43%
Estimate Property Tax Bill
$1,604
Ownwell’s Waldron Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Waldron with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Waldron 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 Waldron, Missouri
Property taxes in Waldron, Missouri, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Waldron is 1.15%, higher than the Missouri state median of 0.93% and the U.S. national median of 0.99%. Local government entities within Waldron set these rates annually, and they can vary significantly across different neighborhoods. Each year, Waldron 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 Waldron's effective property tax rate to other counties in Missouri and the national median. For comparison, the 64092 zip code in Platte County has the highest median property tax rate of 1.43%, while the same zip code also has the lowest median tax rate of 1.43%. Understanding how these cities compare with Waldron provides valuable insights into the varying tax landscape across Platte County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Waldron Tax Rate
1.43%
Average Platte County Tax Rate
1.45%
Average Missouri Tax Rate
1.20%
Average United States Tax Rate
0.99%
Property Tax Rates Across Waldron, Missouri
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 64092 | 1.26% | 1.26% | 1.43% | 1.43% | 1.43% |
Source: Ownwell
Property Tax Assessment Values Across Waldron, Missouri
In Waldron, 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 Platte 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 Waldron, 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 Waldron helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The zip code with the highest and lowest median tax bill is 64092, with a median tax bill of $1,410.
Average Waldron Assessed Value
$112,143
Average Platte County Assessed Value
$243,632
Average Missouri Assessed Value
$129,505
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Waldron, Missouri
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 64092 | $21,398 | $48,120 | $112,143 | $189,336 | $242,265 |
Source: Ownwell
Property Tax Bills Across Waldron, Missouri
In Waldron, MO, 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 home's market value, and this forms the basis for the tax bill. For instance, with a median home price of $112,143, the tax bill can vary significantly. Homeowners in the 25th percentile pay about $688, while those in the 75th percentile face bills around $2,398. The 90th percentile sees tax bills as high as $3,190. Several factors influence these amounts, including the property's location within Platte County and any applicable exemptions. The highest median tax bill in the area is $1,410, which is consistent across all ZIP codes. Compared to the national median property tax rate of 0.99%, Waldron's tax rates can be considered moderate. These taxes fund essential local services such as schools, public safety, and infrastructure, directly impacting the quality of life for homeowners.
Average Waldron Tax Bill
$1,410
Average Platte County Tax Bill
$3,540
Average Missouri Tax Bill
$1,606
Average United States Tax Bill
$2,690
Property Tax Bills Across Waldron, Missouri
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 64092 | $306 | $688 | $1,410 | $2,398 | $3,190 |
Source: Ownwell