Versailles, Missouri Property Taxes
The median property tax rate in Versailles, MO is 0.87%, lower than both the national median of 0.99% and the Missouri state median of 1.20%. With the median home value in Versailles at $132,500, the typical annual property tax bill is $1,421, which is below the national median of $2,690. Property taxes in Versailles are calculated based on the tax assessed value, which often falls below the market value due to various exemptions like the primary residence and agricultural exemptions. Understanding Versailles' property tax system, exploring available exemptions, and identifying opportunities for reductions can lead to significant annual savings. Whether you're in the heart of Versailles 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
Versailles, Missouri Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.87%
Estimate Property Tax Bill
$1,153
Ownwell’s Versailles Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Versailles with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Versailles 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 Versailles, Missouri
Property taxes in Versailles, Missouri, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Versailles is 0.87%, which is lower than the U.S. national median of 0.99%. Local government entities within Versailles set these rates annually, and they can vary significantly across different neighborhoods. Each year, Versailles 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 Versailles' effective property tax rate to other regions in Missouri and the national median. For comparison, the zip code 65084 in Versailles has both the highest and lowest median property tax rate of 0.87%. Understanding how these cities compare with Versailles provides valuable insights into the varying tax landscape across Moniteau County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Versailles Tax Rate
0.87%
Average Moniteau County Tax Rate
1.03%
Average Missouri Tax Rate
1.20%
Average United States Tax Rate
0.99%
Property Tax Rates Across Versailles, Missouri
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 65084 | 0.72% | 0.77% | 0.87% | 0.95% | 5.39% |
Source: Ownwell
Property Tax Assessment Values Across Versailles, Missouri
In Versailles, 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 Moniteau 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 Versailles, 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 Versailles 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 in Versailles is 65084, with a median tax bill of $1,421.
Average Versailles Assessed Value
$132,500
Average Moniteau County Assessed Value
$88,800
Average Missouri Assessed Value
$129,505
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Versailles, Missouri
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 65084 | $31,100 | $61,950 | $132,500 | $209,575 | $240,790 |
Source: Ownwell
Property Tax Bills Across Versailles, Missouri
In Versailles, MO, property tax bills are determined based on the assessed value of a home and the local tax rate. The assessed value is a percentage of the property's market value, which is then multiplied by the tax rate set by local authorities. For example, with a median home price of $132,500, the tax bills can vary significantly. Homeowners in the 25th percentile can expect a tax bill around $837, while those in the 75th percentile might see a bill closer to $2,231. At the 90th percentile, the tax bill can reach up to $3,890. These variations occur due to differences in property values and the specific tax rates applied. The highest median tax bill in the area is recorded at $1,421 in the 65084 zip code. Compared to the national median property tax rate of 0.99%, homeowners in Versailles might find their tax bills to be relatively moderate, depending on their property's assessed value. This system ensures that property taxes are proportionate to the value of the home, impacting homeowners' annual financial obligations.
Average Versailles Tax Bill
$1,421
Average Moniteau County Tax Bill
$1,018
Average Missouri Tax Bill
$1,606
Average United States Tax Bill
$2,690
Property Tax Bills Across Versailles, Missouri
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 65084 | $427 | $837 | $1,421 | $2,231 | $3,890 |
Source: Ownwell