Waverly, Missouri Property Taxes
The median property tax rate in Waverly, MO is 1.23%, noticeably higher than both the national median of 0.99% and Missouri's state median of 1.20%. With a median home value of $152,695 in Waverly, the typical annual property tax bill comes to $1,918, surpassing the national median of $2,690. Property taxes in Waverly are calculated based on the tax assessed value, which often falls below the market value due to various exemptions, including primary residence and agricultural exemptions. Understanding Waverly'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 Waverly 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
Waverly, Missouri Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.23%
Estimate Property Tax Bill
$1,878
Ownwell’s Waverly Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Waverly with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Waverly 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 Waverly, Missouri
Property taxes in Waverly, Missouri, are vital in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Waverly is 1.23%, significantly higher than both the Missouri state median and the U.S. national median of 0.99%. Local government entities within Waverly set these rates annually, and they can vary significantly across different neighborhoods. Each year, Waverly 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 Waverly's effective property tax rate to other counties in Missouri and the national median. For comparison, the 64096 zip code has the highest median property tax rate of 1.23%, while the same 64096 zip code also has the lowest median tax rate of 1.23%. Understanding how these cities compare with Waverly provides valuable insights into the varying tax landscape across Saline County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Waverly Tax Rate
1.23%
Average Saline County Tax Rate
1.17%
Average Missouri Tax Rate
1.20%
Average United States Tax Rate
0.99%
Property Tax Rates Across Waverly, Missouri
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 64096 | 1.15% | 1.21% | 1.23% | 1.25% | 1.27% |
Source: Ownwell
Property Tax Assessment Values Across Waverly, Missouri
In Waverly, 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 Saline 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 Waverly, 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 Waverly helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The zip code with the highest median tax bill is 64096, with a median bill of $1,918, while the lowest median tax bill is also in 64096, at $1,918.
Average Waverly Assessed Value
$152,695
Average Saline County Assessed Value
$78,621
Average Missouri Assessed Value
$129,505
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Waverly, Missouri
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 64096 | $61,214 | $91,289 | $152,695 | $246,310 | $312,246 |
Source: Ownwell
Property Tax Bills Across Waverly, Missouri
In Waverly, Saline 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 property's market value. Once the assessed value is established, local tax rates are applied to calculate the annual property tax bill. Factors such as the property's location, improvements, and any exemptions or deductions for which the homeowner qualifies can influence the final tax amount. For example, the median home price in Waverly is $152,695. Homeowners in the 25th percentile can expect a tax bill around $1,114, while those in the 75th percentile might see bills closer to $2,655. At the 90th percentile, tax bills can reach up to $3,776. The highest and lowest median tax bills in the area are both $1,918, found in the 64096 zip code. These figures help illustrate how property taxes can vary significantly, impacting homeowners' annual expenses and financial planning.
Average Waverly Tax Bill
$1,918
Average Saline County Tax Bill
$974
Average Missouri Tax Bill
$1,606
Average United States Tax Bill
$2,690
Property Tax Bills Across Waverly, Missouri
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 64096 | $777 | $1,114 | $1,918 | $2,655 | $3,776 |
Source: Ownwell