O Fallon, Missouri Property Taxes
The median property tax rate in O'Fallon, MO is 1.08%, slightly higher than the national median of 0.99% but below the Missouri state median of 1.20%. With the median home value in O'Fallon at $310,694, the typical annual property tax bill reaches $3,391, surpassing the national median of $2,690. Property taxes in O'Fallon 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 O'Fallon'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 O'Fallon 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
O Fallon, Missouri Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.08%
Estimate Property Tax Bill
$3,355
Ownwell’s O'Fallon Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in O'Fallon with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in O'Fallon 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 O Fallon, Missouri
Property taxes in O'Fallon, Missouri, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in O'Fallon is 1.08%, which is higher than the U.S. national median of 0.99%. Local government entities within O'Fallon set these rates annually, and they can vary significantly across different neighborhoods. Each year, O'Fallon 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 O'Fallon's effective property tax rate to other areas in Missouri and the national median. For comparison, the 63366 zip code has the highest median property tax rate of 1.09%, while the 63368 zip code has the lowest median tax rate of 1.07%. Understanding how these areas compare with O'Fallon provides valuable insights into the varying tax landscape across St. Charles County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average O Fallon Tax Rate
1.08%
Average St. Charles County Tax Rate
1.08%
Average Missouri Tax Rate
1.20%
Average United States Tax Rate
0.99%
Property Tax Rates Across O Fallon, Missouri
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 63366 | 1.01% | 1.05% | 1.09% | 1.14% | 1.21% |
| 63368 | 0.98% | 1.02% | 1.07% | 1.13% | 1.19% |
Source: Ownwell
Property Tax Assessment Values Across O Fallon, Missouri
In O'Fallon, 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 St. Charles 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 O'Fallon, 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 O'Fallon helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The highest median tax bill in O'Fallon is $3,606 in zip code 63368, while the lowest is $3,162 in zip code 63366.
Average O Fallon Assessed Value
$310,694
Average St. Charles County Assessed Value
$293,699
Average Missouri Assessed Value
$129,505
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across O Fallon, Missouri
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 63366 | $181,074 | $223,632 | $289,598 | $354,018 | $423,942 |
| 63368 | $212,522 | $278,142 | $339,704 | $423,904 | $504,579 |
Source: Ownwell
Property Tax Bills Across O Fallon, Missouri
In O'Fallon, located in St. Charles County, MO, property tax bills are calculated based on the assessed value of a home, which is a percentage of its market value. The median home price in O'Fallon is $310,694. Local tax authorities determine the assessed value and apply the local property tax rate to this value to calculate the tax bill. Factors such as property improvements, neighborhood developments, and overall market conditions can influence the assessed value. Homeowners in O'Fallon experience a range of property tax bills. At the 25th percentile, the tax bill is $2,603, while at the 75th percentile, it rises to $4,154. For those in the 90th percentile, the tax bill can reach as high as $5,078. The highest median tax bill in the area is found in the 63368 zip code at $3,606, whereas the lowest is in the 63366 zip code at $3,162. These tax bills impact homeowners by influencing their annual housing costs and overall financial planning.
Average O Fallon Tax Bill
$3,391
Average St. Charles County Tax Bill
$3,174
Average Missouri Tax Bill
$1,606
Average United States Tax Bill
$2,690
Property Tax Bills Across O Fallon, Missouri
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 63366 | $1,971 | $2,394 | $3,162 | $3,931 | $4,643 |
| 63368 | $2,205 | $2,974 | $3,606 | $4,461 | $5,387 |
Source: Ownwell