Cascade, Missouri Property Taxes
The median property tax rate in Cascade, MO is 0.73%, notably lower than both the national median of 0.99% and Missouri's state median of 1.20%. With the median home value in Cascade at $18,600, the typical annual property tax bill is approximately $130, significantly less than the national median of $2,690. Property taxes in Cascade 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 Cascade'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 Cascade or another part of Wayne County, understanding the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Cascade, 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 Cascade Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Cascade with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Cascade 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 Cascade, Missouri
Property taxes in Cascade, Missouri, are vital in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Cascade is 0.73%, lower than the U.S. national median of 0.99%. Local government entities within Cascade set these rates annually, and they can vary significantly across different neighborhoods. Each year, Cascade 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 Cascade's effective property tax rate to other counties in Missouri and the national median. For comparison, the 63632 zip code has the highest median property tax rate of 0.73%, while the 63632 zip code also has the lowest median tax rate of 0.73%. Understanding how these cities compare with Cascade provides valuable insights into the varying tax landscape across Wayne County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Cascade Tax Rate
0.73%
Average Wayne County Tax Rate
0.77%
Average Missouri Tax Rate
1.20%
Average United States Tax Rate
0.99%
Property Tax Rates Across Cascade, Missouri
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 63632 | 0.62% | 0.67% | 0.73% | 0.75% | 0.76% |
Source: Ownwell
Property Tax Assessment Values Across Cascade, Missouri
In Cascade, 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 Wayne 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 Cascade, 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. For instance, the median home price in Cascade is $18,600, with tax bills ranging from $65 at the 25th percentile to $819 at the 90th percentile. Notably, the highest and lowest median tax bills are both $130, found in the 63632 zip code. 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 Cascade helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Cascade Assessed Value
$18,600
Average Wayne County Assessed Value
$16,000
Average Missouri Assessed Value
$129,505
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Cascade, Missouri
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 63632 | $3,350 | $9,175 | $18,600 | $89,850 | $115,790 |
Source: Ownwell
Property Tax Bills Across Cascade, Missouri
In Cascade, Wayne County, MO, property tax bills are calculated based on the assessed value of a home, which is typically a percentage of the market value. For example, with a median home price of $18,600, the assessed value is determined by local assessment rates and then multiplied by the local property tax rate. Factors that influence the tax bill include the home's assessed value, the local tax rate, and any applicable exemptions or deductions. Homeowners in Cascade face a range of tax bills, with the 25th percentile paying around $65 and the 75th percentile paying up to $663. However, some homeowners might see tax bills as high as $819, particularly in areas with higher property values or fewer exemptions. These property taxes significantly impact homeowners by contributing to local services such as schools, infrastructure, and emergency services. Comparing this to the national median property tax rate of 0.99%, Cascade's property taxes can be relatively modest, providing essential community benefits without imposing excessively high costs on homeowners.
Average Cascade Tax Bill
$130
Average Wayne County Tax Bill
$122
Average Missouri Tax Bill
$1,606
Average United States Tax Bill
$2,690
Property Tax Bills Across Cascade, Missouri
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 63632 | $25 | $65 | $130 | $663 | $819 |
Source: Ownwell