Weatherby Lake, Missouri Property Taxes
The median property tax rate in Weatherby Lake, MO is 1.57%, considerably higher than both the national median of 0.99% and the Missouri state median of 1.20%. With the median home value in Weatherby Lake, the typical annual property tax bill reaches $3,433, exceeding the national median of $2,690. Property taxes in Weatherby Lake 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 Weatherby Lake'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 Weatherby Lake 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
Weatherby Lake, Missouri Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.57%
Estimate Property Tax Bill
$3,429
-$35,932
Ownwell’s Weatherby Lake Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Weatherby Lake with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Weatherby Lake 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 Weatherby Lake, Missouri
Property taxes in Weatherby Lake, Missouri, are essential for funding critical local services such as public schools, road maintenance, and emergency services. The median tax rate in Weatherby Lake is 1.57%, significantly higher than both the Missouri state median and the U.S. national median of 0.99%. Local government entities within Weatherby Lake set these rates annually, and they can vary significantly across different neighborhoods. Each year, Weatherby Lake 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 Weatherby Lake's effective property tax rate to other areas in Missouri and the national median. For comparison, the 64152 zip code has the highest median property tax rate of 1.57%, while the same zip code also has the lowest median tax rate of 1.57%. Understanding how these areas compare with Weatherby Lake 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 Weatherby Lake Tax Rate
1.57%
Average Platte County Tax Rate
1.45%
Average Missouri Tax Rate
1.20%
Average United States Tax Rate
0.99%
Property Tax Rates Across Weatherby Lake, Missouri
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 64152 | 1.57% | 1.57% | 1.57% | 1.57% | 1.57% |
Source: Ownwell
Property Tax Assessment Values Across Weatherby Lake, Missouri
Understanding the difference between "market value" and "assessed value" is crucial for comprehending property taxes in Weatherby Lake, Missouri. 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. Assessment notices in Weatherby Lake 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. For instance, the highest median tax bill in Weatherby Lake is $6,851 in zip code 64152, while the lowest is also $6,851 in the same zip code. Being aware of these valuation processes helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Property Tax Assessment Values Across Weatherby Lake, Missouri
Source: Ownwell
$42,000
$277,975
$513,950
Average Weatherby Lake Assessed Value
$218,386
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 Weatherby Lake, Missouri
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 64152 | $435,772 | $435,772 | $435,772 | $435,772 | $435,772 |
Source: Ownwell
Property Tax Bills Across Weatherby Lake, Missouri
In Weatherby Lake, Platte County, MO, property tax bills are calculated based on the assessed value of a home. The assessed value is a percentage of the market value, determined by the local assessor. To calculate the tax bill, the assessed value is multiplied by the tax rate set by local taxing authorities. For example, with a median home price of $218,386, homeowners can expect varying tax bills. The 25th percentile tax bill is $1,725, while the 75th percentile tax bill reaches $5,142, and the 90th percentile tax bill is $6,168. These figures illustrate the range of potential tax burdens depending on property value and specific tax rates applied. Tax bills in Weatherby Lake can significantly impact homeowners, influencing their financial planning and overall housing costs. Compared to the national median property tax rate of 0.99%, the tax rates in this area may vary, affecting the affordability and attractiveness of owning property in Weatherby Lake.
Average Weatherby Lake Tax Bill
$3,433
Average Platte County Tax Bill
$3,540
Average Missouri Tax Bill
$1,606
Average United States Tax Bill
$2,690
Property Tax Bills Across Weatherby Lake, Missouri
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 64152 | $6,851 | $6,851 | $6,851 | $6,851 | $6,851 |
Source: Ownwell