Wasola, Missouri Property Taxes
The median property tax rate in Wasola, MO is 0.65%, significantly lower than both the national median of 0.99% and the Missouri state median of 1.20%. With the median home value in Wasola at $57,900, the typical annual property tax bill is $357, which is well below the national median of $2,690. Property taxes in Wasola are calculated based on the tax assessed value, which often falls below the market value due to various exemptions like the primary residence and agricultural exemptions. Understanding Wasola'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 Wasola or another part of Ozark County, understanding the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Wasola, 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 Wasola Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Wasola with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Wasola 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 Wasola, Missouri
Property taxes in Wasola, Missouri, are vital in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Wasola is 0.65%, which is lower than both the Missouri state median and the U.S. national median of 0.99%. Local government entities within Wasola set these rates annually, and they can vary significantly across different neighborhoods. Each year, Wasola 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 Wasola's effective property tax rate to other counties in Missouri and the national median. For comparison, the 65773 zip code has the highest median property tax rate of 0.65%, while the same zip code also has the lowest median tax rate of 0.65%. Understanding how these cities compare with Wasola provides valuable insights into the varying tax landscape across Ozark County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Wasola Tax Rate
0.65%
Average Ozark County Tax Rate
0.74%
Average Missouri Tax Rate
1.20%
Average United States Tax Rate
0.99%
Property Tax Rates Across Wasola, Missouri
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 65773 | 0.58% | 0.62% | 0.65% | 0.66% | 0.69% |
Source: Ownwell
Property Tax Assessment Values Across Wasola, Missouri
In Wasola, 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 Ozark 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 Wasola, 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 Wasola helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The highest median tax bill in Wasola is $357 in the 65773 zip code, while the lowest is also $357 in the same zip code.
Average Wasola Assessed Value
$57,900
Average Ozark County Assessed Value
$64,800
Average Missouri Assessed Value
$129,505
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Wasola, Missouri
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 65773 | $24,620 | $35,750 | $57,900 | $97,900 | $145,240 |
Source: Ownwell
Property Tax Bills Across Wasola, Missouri
Property tax bills in Wasola, located in Ozark County, MO, are calculated based on the assessed value of a property, which is determined by the county assessor. The assessed value is a percentage of the property's market value, which is then multiplied by the local tax rate to calculate the annual tax bill. In Wasola, the median home price is $57,900. Homeowners can expect their tax bills to vary, with the 25th percentile at $222 and the 75th percentile at $624. For those in the 90th percentile, the tax bill can reach up to $971. The highest and lowest median tax bill in the area is $357, specifically in the 65773 zip code. Compared to the national median property tax rate of 0.99%, Wasola's tax rates reflect a more affordable property tax environment, which can significantly impact homeowners by lowering their annual financial burden. Factors such as property improvements, location, and tax exemptions can also influence the final tax bill.
Average Wasola Tax Bill
$357
Average Ozark County Tax Bill
$481
Average Missouri Tax Bill
$1,606
Average United States Tax Bill
$2,690
Property Tax Bills Across Wasola, Missouri
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 65773 | $156 | $222 | $357 | $624 | $971 |
Source: Ownwell