Centralia, Missouri Property Taxes
The median property tax rate in Centralia, MO is 1.18%, slightly higher than the national median of 0.99% but lower than the Missouri state median of 1.20%. With the median home value in Centralia at $79,105, the typical annual property tax bill is $951, which is below the national median of $2,690. Property taxes in Centralia are calculated based on the tax assessed value, which often falls below the market value due to various 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
1.18%
Estimate Property Tax Bill
$933
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, are crucial for funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Centralia is 0.92%, slightly lower than the Missouri state median of 0.97% and 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 counties in Missouri and the national median. For comparison, the highest median property tax rate in the region is 0.92%, while the lowest median tax rate is also 0.92%. Understanding how Centralia compares with other areas 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
1.18%
Average Callaway County Tax Rate
1.19%
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 | 1.12% | 1.15% | 1.18% | 1.21% | 1.33% |
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 Callaway 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. The median home price in Centralia is $79,105, with tax bills ranging from $580 at the 25th percentile to $2,654 at the 90th percentile. The zip code 65240 has the highest and lowest median tax bill at $951. Being aware of these valuation processes helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Centralia Assessed Value
$79,105
Average Callaway County Assessed Value
$118,130
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 | $25,675 | $48,490 | $79,105 | $133,712 | $235,630 |
Source: Ownwell
Property Tax Bills Across Centralia, Missouri
In Centralia, located in Callaway County, MO, property tax bills are calculated based on the assessed value of a home, which is derived from its market value. The assessed value is a percentage of the market value, determined by local regulations. For instance, if the median home price in Centralia is $79,105, the assessed value is calculated as a percentage of this figure. The property tax rate is then applied to the assessed value to determine the annual tax bill. Factors such as property improvements, neighborhood trends, and local government budgets can influence both the assessed value and the tax rate. Homeowners in Centralia experience varying tax bills, with the 25th percentile paying around $580 annually, while those in the 75th percentile face bills of approximately $1,525. The 90th percentile sees even higher bills, reaching up to $2,654. These tax obligations can significantly impact homeowners, influencing their financial planning and overall cost of living. Compared to the national median property tax rate of 0.99%, Centralia's rates reflect local economic conditions and funding requirements.
Average Centralia Tax Bill
$951
Average Callaway County Tax Bill
$1,342
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 | $316 | $580 | $951 | $1,525 | $2,654 |
Source: Ownwell