Owensville, Missouri Property Taxes
The median property tax rate in Owensville, MO is 1.04%, slightly higher than the national median of 0.99% but lower than the Missouri state median of 1.20%. With a median home value of $152,360 in Owensville, the typical annual property tax bill reaches $1,587, which is below the national median of $2,690. Property taxes in Owensville are calculated based on the tax assessed value, often lower than the market value due to exemptions like primary residence and agricultural exemptions. Understanding Owensville'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 Owensville or another part of Franklin County, understanding the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Owensville, Missouri Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.04%
Estimate Property Tax Bill
$1,585
Ownwell’s Owensville Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Owensville with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Owensville 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 Owensville, Missouri
Property taxes in Owensville, Missouri, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Owensville is 0.88%, which is lower than both the Missouri state median of 0.97% and the U.S. national median of 0.99%. Local government entities within Owensville set these rates annually, and they can vary significantly across different neighborhoods. Each year, Owensville 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 Owensville's effective property tax rate to other counties in Missouri and the national median. For comparison, the 65066 zip code has the highest median property tax rate of 0.88%, while the same zip code also has the lowest median tax rate of 0.88%. Understanding how these cities compare with Owensville provides valuable insights into the varying tax landscape across Gasconade County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Owensville Tax Rate
1.04%
Average Franklin County Tax Rate
1.08%
Average Missouri Tax Rate
1.20%
Average United States Tax Rate
0.99%
Property Tax Rates Across Owensville, Missouri
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 65066 | 1.04% | 1.04% | 1.04% | 1.04% | 1.04% |
Source: Ownwell
Property Tax Assessment Values Across Owensville, Missouri
Understanding the difference between "market value" and "assessed value" is crucial for comprehending property taxes in Owensville, Missouri. 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 Franklin County Appraisal District 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 Owensville, 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 Owensville helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The highest and lowest median tax bills both stand at $1,587 in the 65066 zip code, highlighting a uniform tax landscape in the area.
Average Owensville Assessed Value
$152,360
Average Franklin County Assessed Value
$143,800
Average Missouri Assessed Value
$129,505
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Owensville, Missouri
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 65066 | $152,360 | $152,360 | $152,360 | $152,360 | $152,360 |
Source: Ownwell
Property Tax Bills Across Owensville, Missouri
In Owensville, located in Franklin County, MO, property tax bills are calculated based on the assessed value of a home, which is determined by the local tax assessor. The assessed value is a percentage of the property's market value. Homeowners in Owensville face a median property tax bill of $1,587 annually, which is consistent across various percentiles, including the 25th, 75th, and 90th percentiles. This uniformity suggests a relatively stable tax rate in the region. Factors influencing the tax bill include the property's assessed value, local tax rates, and any applicable exemptions or deductions. For comparison, the national median property tax rate is 0.99%, making Owensville's tax scenario relatively moderate. This stability in property tax bills can provide homeowners with predictable annual expenses, aiding in financial planning. Understanding these factors helps homeowners anticipate their tax obligations and manage their budgets more effectively.
Average Owensville Tax Bill
$1,587
Average Franklin County Tax Bill
$1,687
Average Missouri Tax Bill
$1,606
Average United States Tax Bill
$2,690
Property Tax Bills Across Owensville, Missouri
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 65066 | $1,587 | $1,587 | $1,587 | $1,587 | $1,587 |
Source: Ownwell