Wellington, Missouri Property Taxes
The median property tax rate in Wellington, MO is 0.37%, significantly lower than both the national median of 0.99% and the Missouri state median of 1.20%. With the median home value in Wellington at $161,700, the typical annual property tax bill amounts to $595, which is well below the national median of $2,690. Property taxes in Wellington 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 Wellington'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 Wellington or another part of the city, grasping the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Wellington, Missouri Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.37%
Estimate Property Tax Bill
$598
Ownwell’s Wellington Property Tax Bill Calculator assists homeowners, real estate investors, and potential buyers in estimating their annual property taxes in Wellington with just two key data points. By entering your property's estimated assessed value, the calculator uses the median tax rate in Wellington to provide an accurate estimate of your property tax bill. This valuable tool helps you understand potential tax liabilities and plan accordingly. For those interested in more detailed insights, you can explore trends at the neighborhood level by scrolling down. Your property’s assessed value is determined by the county for property tax purposes, taking into account any applicable exemptions.
Property Tax Rates Across Wellington, Missouri
Property taxes in Wellington, Missouri, are crucial in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Wellington is 0.91%, significantly higher than the Missouri state median of 0.91% and the U.S. national median of 0.99%. Local government entities within Wellington set these rates annually, and they can vary significantly across different neighborhoods. Each year, Wellington 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 Wellington's effective property tax rate to other counties in Missouri and the national median. For comparison, the 64093 zip code has the highest median property tax rate of 1.05%, while the 64097 zip code has the lowest median tax rate of 0.78%. Understanding how these cities compare with Wellington 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 Wellington Tax Rate
0.37%
Average Morgan County Tax Rate
0.87%
Average Missouri Tax Rate
1.20%
Average United States Tax Rate
0.99%
Property Tax Rates Across Wellington, Missouri
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 64097 | 0.37% | 0.37% | 0.37% | 0.37% | 0.37% |
Source: Ownwell
Property Tax Assessment Values Across Wellington, Missouri
In Wellington, 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 Appraisal District 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 Wellington, 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 Wellington helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. In Wellington, the highest and lowest median tax bills are both $595 in the 64097 zip code, reflecting the uniformity in tax assessments across the region.
Average Wellington Assessed Value
$161,700
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 Wellington, Missouri
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 64097 | $161,700 | $161,700 | $161,700 | $161,700 | $161,700 |
Source: Ownwell
Property Tax Bills Across Wellington, Missouri
In Wellington, MO, located in Morgan County, property tax bills are calculated based on the assessed value of a home, which is a percentage of its market value. For instance, the median home price in Wellington is $161,700. The local tax rate is applied to this assessed value to determine the annual property tax bill. Factors such as property size, location, and improvements made to the home can influence its assessed value. In Wellington, the property tax bill for homes falls within a narrow range, with the 25th, 75th, and 90th percentiles all at $595. This uniformity indicates a stable tax environment, making it easier for homeowners to predict their annual expenses. Compared to the national median property tax rate of 0.99%, Wellington’s tax rate provides a relatively consistent and manageable tax burden for its residents. This stability in property taxes can be a significant factor for homeowners when budgeting and planning for long-term financial commitments.
Average Wellington Tax Bill
$595
Average Morgan County Tax Bill
$420
Average Missouri Tax Bill
$1,606
Average United States Tax Bill
$2,690
Property Tax Bills Across Wellington, Missouri
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 64097 | $595 | $595 | $595 | $595 | $595 |
Source: Ownwell