Sedalia, Missouri Property Taxes
The median property tax rate in Sedalia, MO is 0.85%, which is lower than both the national median of 0.99% and the Missouri state median of 1.20%. With the median home value in Sedalia at $19,100, the typical annual property tax bill is $187, significantly below the national median of $2,690. Property taxes in Sedalia are calculated based on the tax assessed value, which often falls below the market value due to various exemptions such as primary residence and agricultural exemptions. Understanding Sedalia'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 Sedalia or another part of the city, understanding the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Sedalia, 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 Sedalia Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Sedalia with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Sedalia 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 Sedalia, Missouri
Property taxes in Sedalia, Missouri, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Sedalia is 0.85%, which is lower than the U.S. national median of 0.99%. Local government entities within Sedalia set these rates annually, and they can vary significantly across different neighborhoods. Each year, Sedalia 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 Sedalia's effective property tax rate to other counties in Missouri and the national median. For comparison, the 65301 zip code has the highest median property tax rate of 0.85%, while the 65301 zip code also has the lowest median tax rate of 0.85%. Understanding how these cities compare with Sedalia provides valuable insights into the varying tax landscape across Morgan County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Sedalia Tax Rate
0.85%
Average Morgan County Tax Rate
0.87%
Average Missouri Tax Rate
1.20%
Average United States Tax Rate
0.99%
Property Tax Rates Across Sedalia, Missouri
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 65301 | 0.71% | 0.81% | 0.85% | 0.94% | 1.09% |
Source: Ownwell
Property Tax Assessment Values Across Sedalia, Missouri
In Sedalia, 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 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 Sedalia, 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 Sedalia 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 $220 in the 65301 zip code, reflecting the local property tax landscape.
Average Sedalia Assessed Value
$19,100
Average Morgan County Assessed Value
$49,350
Average Missouri Assessed Value
$129,505
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Sedalia, Missouri
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 65301 | $3,760 | $7,150 | $24,500 | $94,000 | $251,900 |
Source: Ownwell
Property Tax Bills Across Sedalia, Missouri
In Sedalia, property tax bills are calculated based on the assessed value of a home, which is determined by the local assessor's office. The assessed value is a percentage of the home's market value. For instance, if your home has a market value of $191,000, the assessed value would be a fraction of that, depending on state and local regulations. The tax rate is then applied to this assessed value to determine the annual property tax bill. Several factors influence the final tax bill, including the home's location within the county, the local tax rate, and any applicable exemptions or deductions. In Sedalia, the tax bills can vary significantly. For example, homeowners at the 25th percentile pay around $68, while those at the 75th percentile face bills of approximately $637. At the 90th percentile, tax bills can reach up to $1,943. These variations can significantly impact homeowners, affecting their annual financial planning and long-term investment in their property.
Average Sedalia Tax Bill
$187
Average Morgan County Tax Bill
$420
Average Missouri Tax Bill
$1,606
Average United States Tax Bill
$2,690
Property Tax Bills Across Sedalia, Missouri
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 65301 | $39 | $80 | $220 | $660 | $2,107 |
Source: Ownwell