Ofallon, Missouri Property Taxes
The median property tax rate in OFallon, MO is 1.14%, slightly higher than the national median of 0.99% but lower than the Missouri state median of 1.20%. With a median home value of $57,486 in OFallon, the typical annual property tax bill amounts to $656, which is below the national median of $2,690. Property taxes in OFallon are calculated based on the tax assessed value, often lower than the market value due to various exemptions such as those for primary residences and agricultural properties. Understanding OFallon'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 OFallon 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
Ofallon, 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 OFALLON Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in OFALLON with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in OFALLON 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 Ofallon, Missouri
Property taxes in O'Fallon, Missouri, are crucial for funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in O'Fallon is 1.14%, which is higher than the U.S. national median of 0.99%. Local government entities within O'Fallon set these rates annually, and they can vary significantly across different neighborhoods. Each year, O'Fallon 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 O'Fallon's effective property tax rate to other areas in Missouri and the national median. For comparison, the 63368 zip code has the highest median property tax rate of 1.19%, while the 63366 zip code has the lowest median tax rate of 1.14%. Understanding how these areas compare with O'Fallon provides valuable insights into the varying tax landscape across St. Charles County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Ofallon Tax Rate
1.14%
Average St. Charles County Tax Rate
1.08%
Average Missouri Tax Rate
1.20%
Average United States Tax Rate
0.99%
Property Tax Rates Across Ofallon, Missouri
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 63366 | 1.14% | 1.14% | 1.14% | 1.14% | 1.24% |
| 63368 | 1.05% | 1.13% | 1.19% | 1.24% | 1.31% |
Source: Ownwell
Property Tax Assessment Values Across Ofallon, Missouri
In O'Fallon, 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 St. Charles 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 O'Fallon, 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 O'Fallon helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The highest median tax bill in the area is $4,767 in the 63368 zip code, while the lowest is $656 in the 63366 zip code.
Average Ofallon Assessed Value
$57,486
Average St. Charles County Assessed Value
$293,699
Average Missouri Assessed Value
$129,505
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Ofallon, Missouri
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 63366 | $43,685 | $57,486 | $57,486 | $57,486 | $629,860 |
| 63368 | $244,401 | $283,249 | $403,032 | $492,062 | $3,363,446 |
Source: Ownwell
Property Tax Bills Across Ofallon, Missouri
In OFALLON, located in St. Charles County, MO, the property tax bill is calculated based on the assessed value of a home, which is a percentage of its market value. Homeowners in this region experience varying tax bills, with the 25th percentile tax bill at $656 and the 75th percentile reaching $3,799. The highest median tax bill in the area is $4,767 in the 63368 zip code, while the lowest is $656 in the 63366 zip code. Property taxes are influenced by several factors, including the home's assessed value, local tax rates, and any applicable exemptions. These taxes fund essential community services such as public schools, emergency services, and infrastructure maintenance. For homeowners, higher property taxes can impact monthly budgets and overall housing affordability. By understanding how these taxes are calculated and the factors involved, homeowners can better anticipate their annual financial obligations and plan accordingly.
Average Ofallon Tax Bill
$656
Average St. Charles County Tax Bill
$3,174
Average Missouri Tax Bill
$1,606
Average United States Tax Bill
$2,690
Property Tax Bills Across Ofallon, Missouri
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 63366 | $534 | $656 | $656 | $656 | $8,041 |
| 63368 | $2,323 | $3,211 | $4,767 | $5,896 | $37,579 |
Source: Ownwell