Washington, Missouri Property Taxes
The median property tax rate in Washington, MO is 1.08%, slightly higher than the national median of 0.99% but lower than Missouri's state median of 1.20%. With a median home value of $167,960 in Washington, the typical annual property tax bill amounts to $1,807, which is below the national median of $2,690. Property taxes in Washington are calculated based on the tax assessed value, often lower than the market value due to exemptions such as those for primary residences and agricultural use. Understanding Washington'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 Washington or another part of Franklin County, comprehending the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Washington, 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 Washington Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Washington with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Washington 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 Washington, Missouri
Property taxes in Washington, Missouri, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Washington is 1.08%, higher than the U.S. national median of 0.99%. Local government entities within Washington set these rates annually, and they can vary significantly across different neighborhoods. Each year, Washington 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 Washington's effective property tax rate to other areas in Franklin County and the national median. For comparison, the zip code 63090 has the highest median property tax rate of 1.08%, while the same zip code also has the lowest median tax rate of 1.08%. Understanding how these rates compare with Washington provides valuable insights into the varying tax landscape across Franklin County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Washington Tax Rate
1.08%
Average Franklin County Tax Rate
1.08%
Average Missouri Tax Rate
1.20%
Average United States Tax Rate
0.99%
Property Tax Rates Across Washington, Missouri
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 63090 | 1.02% | 1.02% | 1.08% | 1.08% | 1.08% |
Source: Ownwell
Property Tax Assessment Values Across Washington, Missouri
In Washington, 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 Franklin 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 Washington, 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 Washington helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The highest and lowest median tax bills in Washington both amount to $1,807, specifically in the 63090 zip code.
Average Washington Assessed Value
$167,960
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 Washington, Missouri
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 63090 | $85,132 | $117,655 | $167,960 | $233,245 | $319,038 |
Source: Ownwell
Property Tax Bills Across Washington, Missouri
In Washington, located in Franklin County, 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 market value of the property. Homeowners in Washington can expect their property tax bills to vary significantly depending on their home's assessed value. For instance, the 25th percentile tax bill is around $1,283, while the 75th percentile tax bill rises to approximately $2,471. At the 90th percentile, homeowners may face tax bills as high as $3,337. The median home price in Washington is $167,960, and the property tax rate can be compared to the national median property tax rate of 0.99%. These property taxes support essential local services such as schools, public safety, and infrastructure. For homeowners, understanding how their tax bill is calculated and the factors influencing it can provide greater clarity and help in financial planning.
Average Washington Tax Bill
$1,807
Average Franklin County Tax Bill
$1,687
Average Missouri Tax Bill
$1,606
Average United States Tax Bill
$2,690
Property Tax Bills Across Washington, Missouri
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 63090 | $992 | $1,283 | $1,807 | $2,471 | $3,337 |
Source: Ownwell