Wellsville, Missouri Property Taxes
The median property tax rate in Wellsville, MO is 1.31%, considerably higher than both the national median of 0.99% and the Missouri state median of 1.20%. With the median home value in Wellsville at $38,300, the typical annual property tax bill reaches $507, which is significantly below the national median of $2,690. Property taxes in Wellsville are calculated based on the tax assessed value, which typically falls below the market value due to various exemptions like the primary residence and agricultural exemptions. Understanding Wellsville'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 Wellsville or another part of Montgomery County, understanding the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Wellsville, Missouri Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.31%
Estimate Property Tax Bill
$502
Ownwell’s Wellsville Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Wellsville with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Wellsville 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 Wellsville, Missouri
Property taxes in Wellsville, Missouri, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Wellsville is 1.31%, significantly higher than the U.S. national median of 0.99%. Local government entities within Wellsville set these rates annually, and they can vary significantly across different neighborhoods. Each year, Wellsville 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 Wellsville's effective property tax rate to other counties in Missouri and the national median. For comparison, the 63384 zip code has both the highest and lowest median property tax rate of 1.31%, reflecting the uniformity in tax rates within this region. Understanding how these areas compare with Wellsville provides valuable insights into the varying tax landscape across Montgomery County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Wellsville Tax Rate
1.31%
Average Montgomery County Tax Rate
1.11%
Average Missouri Tax Rate
1.20%
Average United States Tax Rate
0.99%
Property Tax Rates Across Wellsville, Missouri
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 63384 | 1.15% | 1.31% | 1.31% | 1.34% | 1.37% |
Source: Ownwell
Property Tax Assessment Values Across Wellsville, Missouri
In Wellsville, 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 Montgomery 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 Wellsville, 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 Wellsville helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The highest median tax bill in Wellsville is $507 in the 63384 zip code, while the lowest median tax bill is also $507 in the same zip code.
Average Wellsville Assessed Value
$38,300
Average Montgomery County Assessed Value
$47,300
Average Missouri Assessed Value
$129,505
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Wellsville, Missouri
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 63384 | $3,600 | $13,700 | $38,300 | $65,100 | $99,980 |
Source: Ownwell
Property Tax Bills Across Wellsville, Missouri
In Wellsville, MO, property tax bills are calculated based on the assessed value of a property, which is a percentage of its market value. The median home price in Wellsville is $38,300. The assessed value is then multiplied by the local tax rate to determine the annual tax bill. Factors such as property location, improvements, and market conditions influence the assessed value. For instance, the 25th percentile tax bill in Wellsville is $191, while the 75th percentile tax bill is $858, and the 90th percentile tax bill reaches $1,266. These variations highlight how different property values and local tax rates impact homeowners. Compared to the national median property tax rate of 0.99%, Wellsville's tax bills reflect the local economic conditions and property values. Homeowners in Wellsville must budget for these taxes, which fund essential public services like schools, roads, and emergency services, thereby directly affecting the community's quality of life.
Average Wellsville Tax Bill
$507
Average Montgomery County Tax Bill
$560
Average Missouri Tax Bill
$1,606
Average United States Tax Bill
$2,690
Property Tax Bills Across Wellsville, Missouri
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 63384 | $52 | $191 | $507 | $858 | $1,266 |
Source: Ownwell