Willard, Polk County, Missouri Property Taxes
The median property tax rate in Willard, MO is 0.92%, lower than both the national median of 0.99% and the Missouri state median of 1.20%. With a median home value of $48,211 in Willard, the typical annual property tax bill is $383, significantly below the national median of $2,690. Property taxes in Willard are calculated based on the tax assessed value, which often falls below the market value due to exemptions such as those for primary residences and agricultural properties. Understanding Willard'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 Willard or another part of Polk County, understanding the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Willard, Polk County, Missouri Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.92%
Estimate Property Tax Bill
$444
$412
Ownwell’s Willard Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Willard with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Willard 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 Willard, Polk County, Missouri
Property taxes in Willard, Missouri, are crucial for funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Willard is 0.92%, slightly lower than the U.S. national median of 0.99%. Local government entities within Willard set these rates annually, and they can vary significantly across different neighborhoods. Each year, Willard 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. Understanding how Willard's effective property tax rate compares to other areas provides valuable insights into the varying tax landscape across Polk County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Willard Tax Rate
0.92%
Average Polk County Tax Rate
0.91%
Average Missouri Tax Rate
1.20%
Average United States Tax Rate
0.99%
Property Tax Rates Across Willard, Polk County, Missouri
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 65781 | 0.62% | 0.80% | 0.92% | 0.96% | 0.96% |
Source: Ownwell
Property Tax Assessment Values Across Willard, Polk County, Missouri
In Willard, 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 Polk 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 Willard, 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 Willard is $48,211, with tax bills ranging from $186 at the 25th percentile to $956 at the 90th percentile. The highest and lowest median tax bill in the area is $383, found in zip code 65781. 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 Willard helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Property Tax Assessment Values Across Willard, Polk County, Missouri
Source: Ownwell
$19,386
$60,099
$100,811
Average Willard Assessed Value
$48,211
Average Polk County Assessed Value
$49,465
Average Missouri Assessed Value
$129,505
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Willard, Polk County, Missouri
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 65781 | $10,295 | $23,916 | $48,211 | $86,559 | $109,014 |
Source: Ownwell
Property Tax Bills Across Willard, Polk County, Missouri
In Willard, located in Polk County, MO, property tax bills are calculated based on the assessed value of a home, which is determined by the county assessor. The assessed value is a percentage of the home's market value. Various factors, including property size, location, and market conditions, influence this assessed value. Once the assessed value is established, the local tax rate, also known as the millage rate, is applied to calculate the annual property tax bill. In Willard, the median home price is $48,211, and property tax bills can vary significantly. For instance, the 25th percentile tax bill is $186, while the 75th percentile is $734, and the 90th percentile reaches $956. Homeowners in Willard may find that their property tax bills are relatively lower compared to the national median property tax rate of 0.99%. Understanding these factors can help homeowners anticipate their annual tax obligations and plan their finances accordingly.
Average Willard Tax Bill
$383
Average Polk County Tax Bill
$421
Average Missouri Tax Bill
$1,606
Average United States Tax Bill
$2,690
Property Tax Bills Across Willard, Polk County, Missouri
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 65781 | $136 | $186 | $383 | $734 | $956 |
Source: Ownwell