Willow Springs, Texas County, Missouri Property Taxes
The median property tax rate in Willow Springs, MO is 0.66%, significantly lower than both the national median of 0.99% and the Missouri state median of 1.20%. With the median home value in Willow Springs, the typical annual property tax bill amounts to $391, well below the national median of $2,690. Property taxes in Willow Springs 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 Willow Springs' property tax system, exploring available exemptions, and identifying opportunities for reductions can lead to significant annual savings. Whether you're in the heart of Willow Springs 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
Willow Springs, Texas County, Missouri Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.66%
Estimate Property Tax Bill
$410
$381
Ownwell’s Willow Springs Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Willow Springs with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Willow Springs 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 Texas County for property tax calculations, accounting for any exemptions that may apply.
Property Tax Rates Across Willow Springs, Texas County, Missouri
Property taxes in Willow Springs, Missouri, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Willow Springs is 0.66%, which is lower than the U.S. national median of 0.99%. Local government entities within Willow Springs set these rates annually, and they can vary significantly across different neighborhoods. Each year, Willow Springs 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 Willow Springs's effective property tax rate to other counties in Missouri and the national median. For comparison, the 65793 zip code has the highest median property tax rate of 0.66%, while the same zip code also has the lowest median tax rate of 0.66%. Understanding how these areas compare with Willow Springs provides valuable insights into the varying tax landscape across Texas County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Willow Springs Tax Rate
0.66%
Average Texas County Tax Rate
0.70%
Average Missouri Tax Rate
1.20%
Average United States Tax Rate
0.99%
Property Tax Rates Across Willow Springs, Texas County, Missouri
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 65793 | 0.57% | 0.63% | 0.66% | 0.68% | 0.71% |
Source: Ownwell
Property Tax Assessment Values Across Willow Springs, Texas County, Missouri
Understanding the difference between "market value" and "assessed value" is crucial for comprehending property taxes in Willow Springs, Missouri. 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 Texas 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. Assessment notices in Willow Springs 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. For instance, the highest median tax bill in Willow Springs is $391 in the 65793 zip code, which contrasts with the national median property tax rate of 0.99%. Being aware of these valuation processes helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Property Tax Assessment Values Across Willow Springs, Texas County, Missouri
Source: Ownwell
$47,880
$79,465
$111,050
Average Willow Springs Assessed Value
$62,140
Average Texas County Assessed Value
$74,330
Average Missouri Assessed Value
$129,505
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Willow Springs, Texas County, Missouri
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 65793 | $21,380 | $35,650 | $62,140 | $99,145 | $152,932 |
Source: Ownwell
Property Tax Bills Across Willow Springs, Texas County, Missouri
In Willow Springs, property tax bills are calculated based on the assessed value of a home, which is a percentage of the property's market value. The local tax rate is then applied to this assessed value to determine the annual tax bill. For homeowners in Willow Springs, the median home price is $62,140. The property tax rate in Texas County is relatively low compared to the national median of 0.99%. Factors such as property size, location, and any applicable exemptions or deductions also influence the final tax bill. For example, the 25th percentile tax bill in Willow Springs is $225, while the 75th percentile reaches $630, and the 90th percentile can go up to $988. Homeowners in the 65793 zip code face a median tax bill of $391, which is consistent across the area. These taxes fund essential community services such as schools, public safety, and infrastructure, directly impacting the quality of life for residents.
Average Willow Springs Tax Bill
$391
Average Texas County Tax Bill
$521
Average Missouri Tax Bill
$1,606
Average United States Tax Bill
$2,690
Property Tax Bills Across Willow Springs, Texas County, Missouri
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 65793 | $145 | $225 | $391 | $630 | $988 |
Source: Ownwell