Columbia, Callaway County, Missouri Property Taxes
The median property tax rate in Columbia, MO is 1.18%, slightly higher than the national median of 0.99% but just below the Missouri state median of 1.20%. With a median home value of $112,325 in Columbia, the typical annual property tax bill amounts to $1,276, which is lower than the national median of $2,690. Property taxes in Columbia are calculated based on the tax assessed value, which often falls below the market value due to various exemptions, such as primary residence and agricultural exemptions. Understanding Columbia'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 Columbia 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
Columbia, Callaway County, Missouri Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.18%
Estimate Property Tax Bill
$1,325
$1,230
Ownwell’s Columbia Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Columbia with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Columbia 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 Columbia, Callaway County, Missouri
Property taxes in Columbia, Missouri, are vital in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Columbia is 1.18%, higher than both the Missouri state median of 0.91% and the U.S. national median of 0.99%. Local government entities within Columbia set these rates annually, and they can vary significantly across different neighborhoods. Each year, Columbia 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 Columbia's effective property tax rate to other counties in Missouri and the national median. For comparison, the 65202 zip code has the highest median property tax rate of 1.18%, while the 65201 zip code has the lowest median tax rate of 1.18%. Understanding how these cities compare with Columbia 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 Columbia Tax Rate
1.18%
Average Callaway County Tax Rate
1.19%
Average Missouri Tax Rate
1.20%
Average United States Tax Rate
0.99%
Property Tax Rates Across Columbia, Callaway County, Missouri
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 65201 | 1.01% | 1.16% | 1.18% | 1.23% | 1.52% |
| 65202 | 0.91% | 1.11% | 1.18% | 1.22% | 1.34% |
Source: Ownwell
Property Tax Assessment Values Across Columbia, Callaway County, Missouri
In Columbia, 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 Callaway 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 Columbia, 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 Columbia helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The zip code with the highest median tax bill is 65201 at $1,484, while the lowest is 65202 at $1,233.
Property Tax Assessment Values Across Columbia, Callaway County, Missouri
Source: Ownwell
$41,010
$92,250
$143,490
Average Columbia Assessed Value
$112,325
Average Callaway County Assessed Value
$118,130
Average Missouri Assessed Value
$129,505
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Columbia, Callaway County, Missouri
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 65201 | $32,772 | $67,410 | $132,630 | $236,920 | $320,788 |
| 65202 | $21,122 | $47,620 | $110,020 | $167,010 | $235,580 |
Source: Ownwell
Property Tax Bills Across Columbia, Callaway County, Missouri
In Columbia, MO, property tax bills are calculated based on the assessed value of a home, which is determined by the county assessor. This assessed value is a percentage of the home's market value. For example, if the median home price in Columbia is $112,325, the assessed value would be a fraction of this amount, depending on local assessment rates. The tax rate, also known as the mill rate, is then applied to this assessed value to determine the annual tax bill. Various factors influence the tax bill, including property location, local tax rates, and any applicable exemptions. In Columbia, the lowest median tax bill is $1,233 in zip code 65202, while the highest is $1,484 in zip code 65201. Homeowners in Columbia can expect their tax bills to range from the 25th percentile at $580 to the 90th percentile at $2,694. These property taxes fund essential local services such as schools, public safety, and infrastructure, directly impacting the community's quality of life.
Average Columbia Tax Bill
$1,276
Average Callaway County Tax Bill
$1,342
Average Missouri Tax Bill
$1,606
Average United States Tax Bill
$2,690
Property Tax Bills Across Columbia, Callaway County, Missouri
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 65201 | $407 | $500 | $1,484 | $2,634 | $4,065 |
| 65202 | $266 | $582 | $1,233 | $1,832 | $2,590 |
Source: Ownwell