Wooldridge, Missouri Property Taxes
The median property tax rate in Wooldridge, MO is 1.11%, slightly higher than the national median of 0.99% but lower than Missouri's state median of 1.20%. With a median home value of $87,350 in Wooldridge, the typical annual property tax bill amounts to $1,068, which is below the national median of $2,690. Property taxes in Wooldridge are calculated based on the tax assessed value, which is usually lower than the market value due to exemptions like the primary residence and agricultural exemptions. Understanding Wooldridge'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 Wooldridge or another part of Moniteau County, understanding the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Wooldridge, Missouri Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.11%
Estimate Property Tax Bill
$970
Ownwell’s Wooldridge Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Wooldridge with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Wooldridge 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 Wooldridge, Missouri
Property taxes in Wooldridge, Missouri, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Wooldridge is 1.11%, significantly higher than both the Missouri state median of 0.91% and the U.S. national median of 0.99%. Local government entities within Wooldridge set these rates annually, and they can vary significantly across different neighborhoods. Each year, Wooldridge 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 Wooldridge's effective property tax rate to other counties in Missouri and the national median. For comparison, the 65287 zip code has the highest median property tax rate of 1.11%, while the same zip code also has the lowest median tax rate of 1.11%. Understanding how these cities compare with Wooldridge 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 Wooldridge Tax Rate
1.11%
Average Moniteau County Tax Rate
1.03%
Average Missouri Tax Rate
1.20%
Average United States Tax Rate
0.99%
Property Tax Rates Across Wooldridge, Missouri
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 65287 | 0.91% | 1.06% | 1.11% | 1.14% | 1.19% |
Source: Ownwell
Property Tax Assessment Values Across Wooldridge, Missouri
In Wooldridge, 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's Office 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 Wooldridge, 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 Wooldridge helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. In the 65287 zip code, the highest median tax bill is $1068, while the lowest is also $1068, reflecting a uniform tax landscape.
Average Wooldridge Assessed Value
$87,350
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 Wooldridge, Missouri
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 65287 | $41,200 | $74,125 | $87,350 | $134,450 | $162,150 |
Source: Ownwell
Property Tax Bills Across Wooldridge, Missouri
Property tax bills in Wooldridge, located in Moniteau County, MO, are determined by a combination of the assessed value of the property and the local tax rate. The assessed value is a percentage of the property's market value, which is then multiplied by the local tax rate to calculate the annual tax bill. For example, with a median home price of $87,350, homeowners can expect varying tax bills based on their property's assessed value and the specific rates applied. Factors that influence the tax bill include the property's location within Moniteau County and any applicable exemptions or deductions. The tax bill for the 25th percentile is around $802, while it climbs to approximately $1,548 for the 75th percentile, and can reach up to $2,482 for the 90th percentile. These property taxes fund essential public services such as schools, roads, and emergency services, directly impacting homeowners' contributions to their community. Compared to the national median property tax rate of 0.99%, Wooldridge's rates reflect the local economic conditions and public funding requirements.
Average Wooldridge Tax Bill
$1,068
Average Moniteau County Tax Bill
$1,018
Average Missouri Tax Bill
$1,606
Average United States Tax Bill
$2,690
Property Tax Bills Across Wooldridge, Missouri
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 65287 | $527 | $802 | $1,068 | $1,548 | $2,482 |
Source: Ownwell