Wellsville, Missouri Property Taxes
The median property tax rate in Wellsville, MO is 1.03%, 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 $38,831, the typical annual property tax bill in Wellsville amounts to $430, which is significantly below the national median of $2,690. Property taxes in Wellsville are calculated based on the assessed value, which often falls below the market value due to exemptions such as those for primary residences and agricultural properties. Understanding Wellsville'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 Wellsville or another part of Audrain County, understanding the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Wellsville, Missouri Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.03%
Estimate Property Tax Bill
$400
Ownwell’s Wellsville Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Wellsville with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Wellsville 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 Wellsville, Missouri
Property taxes in Wellsville, Missouri, are crucial for funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Wellsville is 1.03%, higher than both the Missouri state median and the U.S. national median of 0.99%. Local government entities within Wellsville set these rates annually, and they can vary significantly across different neighborhoods. Each year, Wellsville 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 Wellsville's effective property tax rate to other counties in Missouri and the national median. For comparison, the zip code 63384 has both the highest and lowest median property tax rate of 1.03%. Understanding how these cities compare with Wellsville provides valuable insights into the varying tax landscape across Audrain County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Wellsville Tax Rate
1.03%
Average Audrain County Tax Rate
1.20%
Average Missouri Tax Rate
1.20%
Average United States Tax Rate
0.99%
Property Tax Rates Across Wellsville, Missouri
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 63384 | 0.79% | 0.89% | 1.03% | 1.23% | 1.25% |
Source: Ownwell
Property Tax Assessment Values Across Wellsville, Missouri
Understanding the difference between "market value" and "assessed value" is crucial for comprehending property taxes in Wellsville, 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 Audrain County Appraisal District 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 Wellsville, 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 Wellsville helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The zip code with the highest median tax bill is 63384 at $430, which is also the lowest median tax bill in the area.
Average Wellsville Assessed Value
$38,831
Average Audrain County Assessed Value
$51,626
Average Missouri Assessed Value
$129,505
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Wellsville, Missouri
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 63384 | $19,365 | $24,303 | $38,831 | $97,195 | $179,458 |
Source: Ownwell
Property Tax Bills Across Wellsville, Missouri
In Wellsville, located in Audrain 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 represents a percentage of the property's market value. For instance, with a median home price of $38,831, the tax bill can vary significantly depending on the assessed value and applicable tax rates. Homeowners in Wellsville can expect tax bills ranging from $229 at the 25th percentile to $1,776 at the 90th percentile. Several factors influence the final tax bill, including the property's location within specific taxing districts, any applicable exemptions, and the local tax rate. The highest median tax bill in the area is $430, which is quite modest compared to the national median property tax rate of 0.99%. These property taxes directly impact homeowners by funding essential local services such as schools, public safety, and infrastructure, thereby contributing to the overall quality of life in Wellsville.
Average Wellsville Tax Bill
$430
Average Audrain County Tax Bill
$587
Average Missouri Tax Bill
$1,606
Average United States Tax Bill
$2,690
Property Tax Bills Across Wellsville, Missouri
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 63384 | $188 | $229 | $430 | $1,216 | $1,776 |
Source: Ownwell