Westphalia, Missouri Property Taxes
The median property tax rate in Westphalia, MO is 0.81%, 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 $26,430 in Westphalia, the typical annual property tax bill is $212, significantly below the national median of $2,690. Property taxes in Westphalia are calculated based on the assessed value, which is often less than the market value due to exemptions such as those for primary residences and agricultural properties. Understanding Westphalia'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 Westphalia or another part of Osage County, gaining insight into the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Westphalia, Missouri Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.81%
Estimate Property Tax Bill
$214
Ownwell’s Westphalia Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Westphalia with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Westphalia 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 Westphalia, Missouri
Property taxes in Westphalia, Missouri, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Westphalia is 0.81%, which is lower than the U.S. national median of 0.99%. Local government entities within Westphalia set these rates annually, and they can vary across different neighborhoods. Each year, Westphalia 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 Westphalia's effective property tax rate to other areas in Missouri and the national median. For comparison, the zip code 65085 has both the highest and lowest median property tax rate of 0.81%. Understanding how these areas compare with Westphalia provides valuable insights into the varying tax landscape across Osage County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Westphalia Tax Rate
0.81%
Average Osage County Tax Rate
0.86%
Average Missouri Tax Rate
1.20%
Average United States Tax Rate
0.99%
Property Tax Rates Across Westphalia, Missouri
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 65085 | 0.55% | 0.71% | 0.81% | 0.87% | 0.88% |
Source: Ownwell
Property Tax Assessment Values Across Westphalia, Missouri
Understanding the difference between "market value" and "assessed value" is crucial for comprehending property taxes in Westphalia, Missouri. The market value represents the price a willing buyer would pay a willing seller in an open and competitive market, influenced by factors such as location, property condition, and economic trends. This value is estimated by the Osage 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 Westphalia, 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. The median home price in Westphalia is $26,430, with tax bills ranging from $158 at the 25th percentile to $595 at the 90th percentile. The zip code 65085 has the highest median tax bill of $212. By understanding 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 helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Westphalia Assessed Value
$26,430
Average Osage County Assessed Value
$30,816
Average Missouri Assessed Value
$129,505
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Westphalia, Missouri
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 65085 | $14,159 | $20,474 | $26,430 | $39,973 | $80,528 |
Source: Ownwell
Property Tax Bills Across Westphalia, Missouri
In Westphalia, located in Osage County, MO, property tax bills are calculated based on the assessed value of a home, which is a percentage of its market value. The median home price in Westphalia is $26,430. Property taxes here are relatively modest compared to the national median property tax rate of 0.99%. The tax bill for homeowners in the 25th percentile is around $158, while those in the 75th percentile pay approximately $344. At the 90th percentile, the tax bill can reach up to $595. Several factors influence the final tax bill, including the property's assessed value, the tax rate set by local authorities, and any applicable exemptions or deductions. For homeowners, these taxes fund essential public services such as schools, road maintenance, and emergency services. While the highest and lowest median tax bills both stand at $212, homeowners should stay informed about changes in property assessments and tax rates to manage their financial planning effectively.
Average Westphalia Tax Bill
$212
Average Osage County Tax Bill
$261
Average Missouri Tax Bill
$1,606
Average United States Tax Bill
$2,690
Property Tax Bills Across Westphalia, Missouri
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 65085 | $108 | $158 | $212 | $344 | $595 |
Source: Ownwell