Williamstown, Missouri Property Taxes
The median property tax rate in Williamstown, MO is 0.92%, which is lower than both the national median of 0.99% and the Missouri state median of 1.20%. With a median home value of $54,740 in Williamstown, the typical annual property tax bill amounts to $525, significantly below the national median of $2,690. Property taxes in Williamstown are calculated based on the tax assessed value, which is often lower than the market value due to exemptions such as those for primary residences and agricultural properties. Understanding Williamstown's property tax system, exploring available exemptions, and identifying opportunities for reductions can lead to substantial annual savings. Whether you're in the heart of Williamstown or another part of the city, gaining insight into the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Williamstown, Missouri Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.92%
Estimate Property Tax Bill
$504
Ownwell’s Williamstown Property Tax Bill Calculator assists homeowners, real estate investors, and potential buyers in estimating their annual property taxes in Williamstown with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Williamstown to provide an estimate of your property tax bill. This valuable tool helps you understand potential tax liabilities. For those interested in neighborhood-level trends, more localized information is available below. Your property’s assessed value is the value assigned by the county for property tax calculations and considers any applicable exemptions.
Property Tax Rates Across Williamstown, Missouri
Property taxes in Williamstown, Missouri, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Williamstown is 0.92%, which is below the U.S. national median of 0.99%. Local government entities within Williamstown set these rates annually, and they can vary significantly across different neighborhoods. Each year, Williamstown 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. Understanding how these cities compare with Williamstown provides valuable insights into the varying tax landscape across Lewis County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Williamstown Tax Rate
0.92%
Average Lewis County Tax Rate
1.06%
Average Missouri Tax Rate
1.20%
Average United States Tax Rate
0.99%
Property Tax Rates Across Williamstown, Missouri
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 63473 | 0.74% | 0.82% | 0.92% | 1.01% | 1.05% |
Source: Ownwell
Property Tax Assessment Values Across Williamstown, Missouri
In Williamstown, 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 Lewis County Assessor's Office 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 Williamstown, 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 Williamstown helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The highest median tax bill in Williamstown is $525.00, while the lowest is also $525.00, both in zip code 63473.
Average Williamstown Assessed Value
$54,740
Average Lewis County Assessed Value
$40,000
Average Missouri Assessed Value
$129,505
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Williamstown, Missouri
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 63473 | $20,448 | $26,948 | $54,740 | $76,025 | $126,142 |
Source: Ownwell
Property Tax Bills Across Williamstown, Missouri
In Williamstown, located in Lewis County, MO, property tax bills are determined based on the assessed value of a homeowner's property. The assessed value is a percentage of the property's market value, which in Williamstown is influenced by the median home price of $54,740. Property taxes are calculated by applying the local tax rate to this assessed value. Several factors affect the final tax bill, including the property's location within specific zip codes, such as 63473, which has a median tax bill of $525. Homeowners in Williamstown can expect their tax bills to vary significantly, with the 25th percentile paying around $242 and the 75th percentile paying about $747. At the high end, the 90th percentile sees tax bills reaching up to $1,057. These property taxes play a crucial role in funding local services, impacting homeowners by contributing to community infrastructure, schools, and public safety. Understanding how these factors come together helps homeowners anticipate and manage their annual property tax obligations effectively.
Average Williamstown Tax Bill
$525
Average Lewis County Tax Bill
$410
Average Missouri Tax Bill
$1,606
Average United States Tax Bill
$2,690
Property Tax Bills Across Williamstown, Missouri
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 63473 | $193 | $242 | $525 | $747 | $1,057 |
Source: Ownwell