Westwood Hills, Missouri Property Taxes
The median property tax rate in Westwood Hills, MO is 0.85%, which is lower than both the national median of 0.99% and Missouri's state median of 1.20%. With a median home value of $60,700 in Westwood Hills, the typical annual property tax bill amounts to $517, significantly less than the national median of $2,690. Property taxes here are calculated based on the tax assessed value, which is often lower than the market value due to various exemptions such as those for primary residences and agricultural properties. Understanding Westwood Hills' property tax system, exploring available exemptions, and identifying opportunities for reductions can lead to substantial annual savings. Whether you're in the heart of Westwood Hills 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
Westwood Hills, 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 Westwood Hills Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Westwood Hills with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Westwood Hills 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 Westwood Hills, Missouri
Property taxes in Westwood Hills, Missouri, are essential in funding crucial local services such as public schools, road maintenance, and emergency services. The median tax rate in Westwood Hills is 0.85%, which is lower than the U.S. national median of 0.99%. Local government entities within Westwood Hills set these rates annually, and they can vary significantly across different neighborhoods. Each year, Westwood Hills 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 Westwood Hills' effective property tax rate to other counties in Missouri and the national median. For comparison, the zip code 66205 has both the highest and lowest median property tax rate of 0.85%. Understanding how these cities compare with Westwood Hills 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 Westwood Hills 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 Westwood Hills, Missouri
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 66205 | 0.85% | 0.85% | 0.85% | 0.85% | 0.85% |
Source: Ownwell
Property Tax Assessment Values Across Westwood Hills, Missouri
In Westwood Hills, 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 Morgan 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 Westwood Hills, 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 Westwood Hills helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The highest and lowest median tax bills in the area are both $517, found in the 66205 zip code.
Average Westwood Hills Assessed Value
$60,700
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 Westwood Hills, Missouri
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 66205 | $60,700 | $60,700 | $60,700 | $60,700 | $60,700 |
Source: Ownwell
Property Tax Bills Across Westwood Hills, Missouri
In Westwood Hills, property tax bills are calculated based on the assessed value of a home, which is a percentage of its market value. The tax rate, known as the millage rate, is applied to this assessed value to determine the annual tax bill. For homeowners in Westwood Hills, the median home price is $60,700. The tax bill remains consistent across various percentiles, with the 25th, 75th, and 90th percentiles all reflecting a tax bill of $517. Several factors influence the assessed value, including the property's location, size, and condition. Local government services, such as schools, infrastructure, and emergency services, are funded through these property taxes, directly impacting the community's quality of life. Compared to the national median property tax rate of 0.99%, Westwood Hills' property tax rate results in a relatively manageable tax bill for homeowners, providing essential services without being overly burdensome. This balance ensures that homeowners can enjoy their properties while contributing to the community's overall well-being.
Average Westwood Hills Tax Bill
$517
Average Morgan County Tax Bill
$420
Average Missouri Tax Bill
$1,606
Average United States Tax Bill
$2,690
Property Tax Bills Across Westwood Hills, Missouri
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 66205 | $517 | $517 | $517 | $517 | $517 |
Source: Ownwell