Osage Beach, Missouri Property Taxes
The median property tax rate in Osage Beach, MO is 1.16%, 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 $31,750, the typical annual property tax bill in Osage Beach reaches $303, significantly below the national median of $2,690. Property taxes here are calculated based on the tax assessed value, which often falls below the market value due to exemptions such as those for primary residences and agricultural properties. Understanding Osage Beach's property tax system, exploring available exemptions, and identifying opportunities for reductions can lead to substantial annual savings. Whether you're in the heart of Osage Beach 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
Osage Beach, Missouri Property Tax Bill Calculator
$100,000
$2,500,000
$5,000,000
Average Tax Rate
1.2%
Estimate Property Tax Bill
$2,400
Ownwell’s Osage Beach Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Osage Beach with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Osage Beach 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 Osage Beach, Missouri
Property taxes in Osage Beach, Missouri, are essential for funding crucial local services such as public schools, road maintenance, and emergency services. The median tax rate in Osage Beach is 0.84%, lower than both the Missouri state median of 0.97% and the U.S. national median of 0.99%. Local government entities within Osage Beach set these rates annually, and they can vary significantly across different neighborhoods. Each year, Osage Beach 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 Osage Beach's effective property tax rate to other counties in Missouri and the national median. For comparison, the zip code 65065 has the highest median property tax rate of 0.84%, while the same zip code also has the lowest median tax rate of 0.84%. Understanding how these cities compare with Osage Beach provides valuable insights into the varying tax landscape across Morgan County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Osage Beach Tax Rate
1.16%
Average Morgan County Tax Rate
0.87%
Average Missouri Tax Rate
1.20%
Average United States Tax Rate
0.99%
Property Tax Rates Across Osage Beach, Missouri
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 65065 | 0.90% | 0.91% | 1.16% | 1.46% | 1.54% |
Source: Ownwell
Property Tax Assessment Values Across Osage Beach, Missouri
In Osage Beach, 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 Morgan 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 Osage Beach, 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 Osage Beach helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The highest median tax bill in the area is $303, found in the 65065 zip code, while the lowest median tax bill is also $303, indicating a uniformity in tax bills across the region.
Average Osage Beach Assessed Value
$31,750
Average Morgan County Assessed Value
$49,350
Average Missouri Assessed Value
$129,505
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Osage Beach, Missouri
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 65065 | $3,990 | $4,575 | $31,750 | $80,050 | $118,660 |
Source: Ownwell
Property Tax Bills Across Osage Beach, Missouri
In Osage Beach, property tax bills are calculated based on the assessed value of a home, which is a percentage of its market value. The assessed value is then multiplied by the local tax rate to determine the annual tax bill. For example, with a median home price of $31,750, homeowners can expect varying tax bills depending on their property's assessed value. Factors influencing the tax bill include the property's location, size, and condition. In Morgan County, tax bills can range significantly, with the 25th percentile at $66 and the 75th percentile at $725. At the 90th percentile, homeowners might see tax bills as high as $1,062. These property taxes fund local services such as schools, emergency services, and infrastructure, directly impacting the quality of life in the community. Understanding how these factors come together helps homeowners anticipate their annual tax obligations and plan their finances accordingly.
Average Osage Beach Tax Bill
$303
Average Morgan County Tax Bill
$420
Average Missouri Tax Bill
$1,606
Average United States Tax Bill
$2,690
Property Tax Bills Across Osage Beach, Missouri
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 65065 | $61 | $66 | $303 | $725 | $1,062 |
Source: Ownwell