Tiff, Washington County, Missouri Property Taxes
The median property tax rate in Tiff, Missouri is 1.02%, slightly above the national median of 0.99% but below the Missouri state median of 1.20%. With the median home value in Tiff at $41,935, the typical annual property tax bill is $422, which is significantly lower than the national median of $2,690. Property taxes in Tiff are calculated based on the tax assessed value, often lower than the market value due to various exemptions like the primary residence and agricultural exemptions. Understanding Tiff'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 Tiff or another part of Washington County, understanding the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Tiff, Washington County, Missouri Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.02%
Estimate Property Tax Bill
$428
$397
Ownwell’s TIFF Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in TIFF with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in TIFF 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 Tiff, Washington County, Missouri
Property taxes in TIFF, Missouri, play a crucial role in supporting essential local services such as public schools, road maintenance, and emergency services. The median tax rate in TIFF stands at 1.02%, which is higher than both the Missouri state median and the U.S. national median of 0.99%. Local government entities within TIFF set these rates annually, and they can vary significantly across different neighborhoods. Each year, TIFF 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 TIFF's effective property tax rate to other counties in Missouri and the national median. For comparison, the 63674 zip code has both the highest and lowest median property tax rate of 1.02%. Understanding how these cities compare with TIFF provides valuable insights into the varying tax landscape across Washington County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Tiff Tax Rate
1.02%
Average Washington County Tax Rate
0.96%
Average Missouri Tax Rate
1.20%
Average United States Tax Rate
0.99%
Property Tax Rates Across Tiff, Washington County, Missouri
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 63674 | 0.88% | 0.98% | 1.02% | 1.03% | 1.03% |
Source: Ownwell
Property Tax Assessment Values Across Tiff, Washington County, Missouri
In TIFF, 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 Washington 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 TIFF, 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 TIFF helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. Notably, the highest and lowest median tax bills in the area both stand at $422, specifically in the zip code 63674.
Property Tax Assessment Values Across Tiff, Washington County, Missouri
Source: Ownwell
$14,300
$48,465
$82,630
Average Tiff Assessed Value
$41,935
Average Washington County Assessed Value
$37,210
Average Missouri Assessed Value
$129,505
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Tiff, Washington County, Missouri
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 63674 | $18,697 | $25,662 | $41,935 | $111,948 | $130,254 |
Source: Ownwell
Property Tax Bills Across Tiff, Washington County, Missouri
In Tiff, Washington County, MO, property tax bills are calculated based on the assessed value of a home, which is a percentage of its market value. The median home price in Tiff is $41,935. Property taxes are then determined by applying the local tax rate to this assessed value. The tax bill can vary significantly, with the 25th percentile paying around $227, while the 75th percentile pays approximately $1,072. At the 90th percentile, homeowners might see tax bills as high as $1,309. Several factors influence the property tax bill, including the home's assessed value, local tax rates, and any applicable exemptions or deductions. These taxes fund essential community services like schools, emergency services, and infrastructure. For homeowners in Tiff, understanding these factors is crucial as property taxes can impact overall housing affordability. Comparatively, the national median property tax rate is 0.99%, highlighting the importance of local tax rates in determining individual tax burdens.
Average Tiff Tax Bill
$422
Average Washington County Tax Bill
$361
Average Missouri Tax Bill
$1,606
Average United States Tax Bill
$2,690
Property Tax Bills Across Tiff, Washington County, Missouri
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 63674 | $179 | $227 | $422 | $1,072 | $1,309 |
Source: Ownwell