Wheeling, Missouri Property Taxes
The median property tax rate in Wheeling, MO is 0.91%, slightly below the national median of 0.99% and significantly lower than the Missouri state median of 1.20%. With the median home value in Wheeling at $70,400, the typical annual property tax bill is $747, which is much less than the national median of $2,690. Property taxes in Wheeling are calculated based on the assessed value, often lower than the market value due to exemptions like those for primary residences and agricultural properties. Understanding Wheeling'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 Wheeling or another part of the city, familiarizing yourself with the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Wheeling, Missouri Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.91%
Estimate Property Tax Bill
$641
Ownwell’s Wheeling Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Wheeling with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Wheeling 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 Wheeling, Missouri
Property taxes in Wheeling, Missouri, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Wheeling is 0.91%, slightly below the U.S. national median of 0.99%. Local government entities within Wheeling set these rates annually, and they can vary significantly across different neighborhoods. Each year, Wheeling 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 Wheeling's effective property tax rate to other counties in Missouri and the national median. For comparison, the 64688 zip code has both the highest and lowest median property tax rate of 0.91%. Understanding how these cities compare with Wheeling provides valuable insights into the varying tax landscape across Linn County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Wheeling Tax Rate
0.91%
Average Linn County Tax Rate
1.13%
Average Missouri Tax Rate
1.20%
Average United States Tax Rate
0.99%
Property Tax Rates Across Wheeling, Missouri
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 64688 | 0.79% | 0.81% | 0.91% | 1.07% | 1.17% |
Source: Ownwell
Property Tax Assessment Values Across Wheeling, Missouri
In Wheeling, 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 Linn 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 Wheeling, 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 Wheeling 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 64688, with a median tax bill of $747.
Average Wheeling Assessed Value
$70,400
Average Linn County Assessed Value
$25,200
Average Missouri Assessed Value
$129,505
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Wheeling, Missouri
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 64688 | $22,410 | $34,950 | $70,400 | $155,725 | $299,970 |
Source: Ownwell
Property Tax Bills Across Wheeling, Missouri
In Wheeling, located in Linn County, MO, property tax bills are calculated based on the assessed value of a home and the local tax rate. The assessed value is typically a percentage of the property's market value, which is determined by the county assessor. Factors such as property size, location, and improvements can influence this valuation. Homeowners in Wheeling experience a range of property tax bills. For instance, the 25th percentile tax bill is $403, while the 75th percentile tax bill reaches $1,536. Those at the 90th percentile can see tax bills as high as $2,824. Compared to the national median property tax rate of 0.99%, the tax burden in Wheeling can vary significantly based on individual property assessments. This variability in tax bills can affect homeowners differently, impacting their annual expenses and potentially influencing decisions related to property investments and home improvements. Understanding how these factors play into the overall tax bill can help homeowners better manage their financial planning and obligations.
Average Wheeling Tax Bill
$747
Average Linn County Tax Bill
$264
Average Missouri Tax Bill
$1,606
Average United States Tax Bill
$2,690
Property Tax Bills Across Wheeling, Missouri
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 64688 | $195 | $403 | $747 | $1,536 | $2,824 |
Source: Ownwell