Catawissa, Missouri Property Taxes
The median property tax rate in Catawissa, MO, is 1.40%, considerably higher than both the national median of 0.99% and Missouri's state median of 1.20%. With the median home value in Catawissa, the typical annual property tax bill reaches $1,935, exceeding the national median of $2,690. Property taxes in Catawissa 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 Catawissa'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 Catawissa or another part of Franklin County, understanding the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Catawissa, Missouri Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.4%
Estimate Property Tax Bill
$1,893
Ownwell’s Catawissa Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Catawissa with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Catawissa 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 Catawissa, Missouri
Property taxes in Catawissa, Missouri, are crucial for funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Catawissa is 1.40%, significantly higher than the U.S. national median of 0.99%. Local government entities within Catawissa set these rates annually, and they can vary significantly across different neighborhoods. Each year, Catawissa 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 Catawissa's effective property tax rate to other areas and the national median. Understanding how these cities compare with Catawissa provides valuable insights into the varying tax landscape across Franklin County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Catawissa Tax Rate
1.40%
Average Franklin County Tax Rate
1.08%
Average Missouri Tax Rate
1.20%
Average United States Tax Rate
0.99%
Property Tax Rates Across Catawissa, Missouri
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 63015 | 1.31% | 1.34% | 1.40% | 1.40% | 1.40% |
Source: Ownwell
Property Tax Assessment Values Across Catawissa, Missouri
In Catawissa, 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 Franklin 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 Catawissa, 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 Catawissa helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. Notably, the highest median tax bill in the area is $1935 in the 63015 zip code, which is also the lowest median tax bill recorded.
Average Catawissa Assessed Value
$135,245
Average Franklin County Assessed Value
$143,800
Average Missouri Assessed Value
$129,505
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Catawissa, Missouri
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 63015 | $43,315 | $94,772 | $135,245 | $181,545 | $236,341 |
Source: Ownwell
Property Tax Bills Across Catawissa, Missouri
In Catawissa, property tax bills are calculated based on the assessed value of your home, which is determined by the Franklin County Assessor's Office. This assessed value is a percentage of the market value, typically around 19% for residential properties. Once the assessed value is established, the local tax rate is applied to determine the final tax bill. For instance, with a median home price of $135,245, the assessed value would be approximately $25,696.55. Applying the local tax rate to this assessed value results in the property tax bill. Several factors influence the final tax bill, including the local tax rate, any applicable exemptions, and changes in the assessed value due to market conditions or property improvements. Homeowners in Catawissa can expect their property tax bills to range significantly, with the 25th percentile at $1,409 and the 75th percentile at $2,520. This variability affects homeowners by impacting their annual budgeting and long-term financial planning. Understanding these factors can help homeowners anticipate changes in their property tax obligations.
Average Catawissa Tax Bill
$1,935
Average Franklin County Tax Bill
$1,687
Average Missouri Tax Bill
$1,606
Average United States Tax Bill
$2,690
Property Tax Bills Across Catawissa, Missouri
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 63015 | $858 | $1,409 | $1,935 | $2,520 | $3,239 |
Source: Ownwell