Property tax rates are set each year by local taxing jurisdictions within the limits set by the Missouri Constitution and laws. Rates are based on the revenues that had been permitted for the prior year with an allowance for growth based on the rate of inflation. Projected revenue needs for the current taxable year are divided by assessed valuation of the taxing jurisdiction with values from new construction and improvements, and any increments in personal property valuation, held aside. The resulting tax rate becomes the permitted rate for the year if it falls within the ceiling permitted that local government.
Taxes are levied against property based on the rates as permitted by voters, collected by the collector and then distributed back to the taxing entities. In other words, the Osage County Collector bills and collects property taxes on behalf of the taxing entities within the county.
The total tax rate is based on property location and applicable taxing entities. Everyone has to pay the following taxing entities: State of Missouri, County, a Road District, Library, Handicap, and a School District, but not everyone pays to an Ambulance District, a Fire Protection District, or a City. For example, in 2016 you lived in the City of Linn, and your total assessed value was $27,750.00, you would need to figure your total tax levy and taxes as follows:
State of Missouri $0.0300
County of Osage $0.0692
Linn Road District $0.2665
Osage Ambulance District $0.1855
R-2 School District $3.8000
Linn Fire Protection $0.2625
City of Linn $0.6140
Total Tax Levy: $5.5011
$27,750.00 ÷ 100 x $5.5011 = $1,526.55 in taxes.