Warsaw, Benton County, Missouri Property Taxes
The median property tax rate in Warsaw, MO is 0.98%, slightly below the national median of 0.99% and significantly lower than the Missouri state median of 1.20%. With a median home value of $52,789 in Warsaw, the typical annual property tax bill amounts to $493, well below the national median of $2,690. Property taxes in Warsaw are calculated based on the tax assessed value, which generally is lower than the market value due to exemptions like the primary residence and agricultural exemptions. Understanding Warsaw'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 Warsaw or another part of Benton County, understanding the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Warsaw, Benton County, Missouri Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.98%
Estimate Property Tax Bill
$517
$480
Ownwell’s Warsaw Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Warsaw with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Warsaw 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 Warsaw, Benton County, Missouri
Property taxes in Warsaw, Missouri, are crucial for funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Warsaw is 0.98%, slightly lower than the U.S. national median of 0.99%. Local government entities within Warsaw set these rates annually, and they can vary significantly across different neighborhoods. Each year, Warsaw 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 Warsaw's effective property tax rate to other areas in Missouri and the national median. For comparison, the zip code 65355 has both the highest and lowest median property tax rate of 0.98%. Understanding how these areas compare with Warsaw provides valuable insights into the varying tax landscape across Benton County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Warsaw Tax Rate
0.98%
Average Benton County Tax Rate
0.98%
Average Missouri Tax Rate
1.20%
Average United States Tax Rate
0.99%
Property Tax Rates Across Warsaw, Benton County, Missouri
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 65355 | 0.84% | 0.93% | 0.98% | 1.00% | 1.05% |
Source: Ownwell
Property Tax Assessment Values Across Warsaw, Benton County, Missouri
In Warsaw, 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 Benton 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 Warsaw, 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 Warsaw helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The zip code with the highest and lowest median tax bill is 65355, both being $493.
Property Tax Assessment Values Across Warsaw, Benton County, Missouri
Source: Ownwell
$27,737
$56,632
$85,526
Average Warsaw Assessed Value
$52,789
Average Benton County Assessed Value
$50,947
Average Missouri Assessed Value
$129,505
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Warsaw, Benton County, Missouri
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 65355 | $10,084 | $24,474 | $52,789 | $96,053 | $146,590 |
Source: Ownwell
Property Tax Bills Across Warsaw, Benton County, Missouri
In Warsaw, Benton County, MO, property tax bills are calculated based on the assessed value of a home, which is determined by the local assessor's office. The assessed value is a percentage of the market value of the property. Homeowners in Warsaw can expect property tax bills to vary significantly depending on the value of their property and the specific tax rates applied by local taxing authorities. For a median home price of $52,789, property tax bills typically range from $225 at the 25th percentile to $1,425 at the 90th percentile. The highest and lowest median tax bills in the area are both $493, found in the zip code 65355. These figures illustrate how different factors, such as property value and local tax rates, influence the overall tax burden on homeowners. Compared to the national median property tax rate of 0.99%, Warsaw’s property tax rates can be relatively moderate, providing some relief to homeowners. Understanding these factors helps homeowners anticipate their annual property tax obligations and plan their finances accordingly.
Average Warsaw Tax Bill
$493
Average Benton County Tax Bill
$492
Average Missouri Tax Bill
$1,606
Average United States Tax Bill
$2,690
Property Tax Bills Across Warsaw, Benton County, Missouri
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 65355 | $89 | $225 | $493 | $925 | $1,425 |
Source: Ownwell