Centralia, Boone County, Missouri Property Taxes
The median property tax rate in Centralia, MO is 1.16%, slightly higher than the national median of 0.99% but below Missouri's state median of 1.20%. With a median home value of $105,800, the typical annual property tax bill in Centralia amounts to $1,315, which is still lower than the national median of $2,690. Property taxes in Centralia are calculated based on the tax assessed value, often lower than the market value due to exemptions such as the primary residence and agricultural exemptions. Understanding Centralia'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 Centralia 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
Centralia, Boone County, Missouri Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.16%
Estimate Property Tax Bill
$1,227
$1,139
Ownwell’s Centralia Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Centralia with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Centralia 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 Centralia, Boone County, Missouri
Property taxes in Centralia, Missouri, are essential for funding critical local services such as public schools, road maintenance, and emergency services. The median tax rate in Centralia is 1.16%, which is significantly higher than both the Missouri state median and the U.S. national median of 0.99%. Local government entities within Centralia set these rates annually, and they can vary significantly across different neighborhoods. Each year, Centralia 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 Centralia's effective property tax rate to other counties in Missouri and the national median. For comparison, the zip code 65240 has both the highest and lowest median property tax rate of 1.16%. Understanding how these cities compare with Centralia provides valuable insights into the varying tax landscape across Boone County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Centralia Tax Rate
1.16%
Average Boone County Tax Rate
1.27%
Average Missouri Tax Rate
1.20%
Average United States Tax Rate
0.99%
Property Tax Rates Across Centralia, Boone County, Missouri
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 65240 | 1.10% | 1.12% | 1.16% | 1.16% | 1.19% |
Source: Ownwell
Property Tax Assessment Values Across Centralia, Boone County, Missouri
In Centralia, 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 Boone 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 Centralia, 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 Centralia helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The median home price in Centralia is $105,800. The 25th percentile tax bill is $824, while the 75th percentile tax bill is $1,892, and the 90th percentile tax bill is $2,532. The zip code 65240 has both the highest and lowest median tax bill at $1,315.
Property Tax Assessment Values Across Centralia, Boone County, Missouri
Source: Ownwell
$66,735
$131,575
$196,415
Average Centralia Assessed Value
$105,800
Average Boone County Assessed Value
$153,300
Average Missouri Assessed Value
$129,505
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Centralia, Boone County, Missouri
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 65240 | $31,804 | $62,100 | $105,800 | $163,000 | $218,936 |
Source: Ownwell
Property Tax Bills Across Centralia, Boone County, Missouri
In Centralia, located in Boone County, MO, property tax bills are calculated based on the assessed value of a home, which is a percentage of its market value. Local tax authorities determine the assessed value, and then apply the relevant tax rate to this value. For example, with a median home price of $105,800, the property tax rate is applied to determine the annual tax bill. Factors influencing the tax bill include the property's assessed value, local tax rates, and any applicable exemptions. In Centralia, homeowners can expect tax bills to vary significantly. The 25th percentile tax bill is around $824, while the 75th percentile tax bill reaches $1,892, and the 90th percentile tax bill can be as high as $2,532. This variability in tax bills affects homeowners differently, with higher-valued properties facing larger tax obligations. Compared to the national median property tax rate of 0.99%, Centralia's tax rates and assessed values play a crucial role in determining the financial impact on residents.
Average Centralia Tax Bill
$1,315
Average Boone County Tax Bill
$2,051
Average Missouri Tax Bill
$1,606
Average United States Tax Bill
$2,690
Property Tax Bills Across Centralia, Boone County, Missouri
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 65240 | $526 | $824 | $1,315 | $1,892 | $2,532 |
Source: Ownwell