Washington, Missouri Property Taxes
The median property tax rate in Washington, MO is 0.93%, which is lower than both the national median of 0.99% and Missouri's state median of 1.20%. With a median home value of $68,800 in Washington, the typical annual property tax bill amounts to $642, significantly below the national median of $2,690. Property taxes in Washington are 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 Washington'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 Washington or another part of the city, comprehending the local property tax system is advantageous for both homeowners and real estate investors.
Last Updated June 14, 2024
Washington, Missouri Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.93%
Estimate Property Tax Bill
$640
Ownwell’s Washington Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Washington with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Washington 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 Washington, Missouri
Property taxes in Washington, Missouri, are essential in funding crucial local services such as public schools, road maintenance, and emergency services. The median tax rate in Washington is 0.93%, slightly below the U.S. national median of 0.99%. Local government entities within Washington set these rates annually, and they can vary significantly across different neighborhoods. Each year, Washington 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 Washington's effective property tax rate to other areas in Missouri and the national median. For comparison, the 63090 zip code has the same median property tax rate of 0.93%. Understanding how these cities compare with Washington 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 Washington Tax Rate
0.93%
Average Morgan County Tax Rate
0.87%
Average Missouri Tax Rate
1.20%
Average United States Tax Rate
0.99%
Property Tax Rates Across Washington, Missouri
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 63090 | 0.80% | 0.86% | 0.93% | 0.94% | 0.98% |
Source: Ownwell
Property Tax Assessment Values Across Washington, Missouri
In Washington, 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. 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. In Washington, the median home price is $68,800, with tax bills ranging from $264 at the 25th percentile to $2,872 at the 75th percentile. The zip code 63090 has both the highest and lowest median tax bill of $642. Being aware of these valuation processes helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Washington Assessed Value
$68,800
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 Washington, Missouri
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 63090 | $17,400 | $34,800 | $68,800 | $286,700 | $314,120 |
Source: Ownwell
Property Tax Bills Across Washington, Missouri
Property tax bills in Washington, Morgan County, MO, are calculated based on the assessed value of a property, which is determined by the local assessor's office. The assessed value is a percentage of the property's market value. Various factors, such as property size, location, and improvements, play a role in determining this value. Once the assessed value is established, it is multiplied by the local tax rate to calculate the property tax bill. For homeowners in Washington, the median home price is $68,800, and property tax bills can vary significantly. The tax bill at the 25th percentile is $264, while at the 75th percentile, it rises to $2,872. The 90th percentile tax bill is slightly higher at $2,887. It's important to note that the highest and lowest median tax bills in the area are both $642 in the zip code 63090, highlighting a relatively narrow range of tax burdens within the locality. Comparatively, the national median property tax rate is 0.99%, which provides a benchmark for assessing local tax rates.
Average Washington Tax Bill
$642
Average Morgan County Tax Bill
$420
Average Missouri Tax Bill
$1,606
Average United States Tax Bill
$2,690
Property Tax Bills Across Washington, Missouri
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 63090 | $138 | $264 | $642 | $2,872 | $2,887 |
Source: Ownwell