Foster, Missouri Property Taxes
The median property tax rate in Foster, MO is 0.96%, slightly below the national median of 0.99% and significantly lower than the Missouri state median of 1.20%. With the median home value in Foster, the typical annual property tax bill amounts to $241, which is well below the national median of $2,690. Property taxes in Foster 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 Foster'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 Foster 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
Foster, Missouri Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.96%
Estimate Property Tax Bill
$236
Ownwell’s Foster Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Foster with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Foster 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 Foster, Missouri
Property taxes in Foster, Missouri, are essential for funding critical local services such as public schools, road maintenance, and emergency services. The median tax rate in Foster is 1.08%, higher than both the Missouri state median of 0.93% and the U.S. national median of 0.99%. Local government entities within Foster set these rates annually, and they can vary significantly across different neighborhoods. Each year, Foster 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 Foster's effective property tax rate to other counties in Missouri and the national median. For comparison, the 64745 zip code has the highest median property tax rate of 1.08%, while the 64745 zip code has the lowest median tax rate of 1.08%. Understanding how these cities compare with Foster provides valuable insights into the varying tax landscape across Bates County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Foster Tax Rate
0.96%
Average Bates County Tax Rate
1.06%
Average Missouri Tax Rate
1.20%
Average United States Tax Rate
0.99%
Property Tax Rates Across Foster, Missouri
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 64745 | 0.66% | 0.95% | 0.96% | 1.02% | 1.14% |
Source: Ownwell
Property Tax Assessment Values Across Foster, Missouri
In Foster, 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 Bates 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 Foster, 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. The median home price in Foster is $24,550, with property tax bills ranging significantly. The 25th percentile tax bill is $101, while the 75th percentile stands at $311, and the 90th percentile reaches $408. Interestingly, the zip code 64745 has both the highest and lowest median tax bills, each at $241. Being aware of these valuation processes helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Foster Assessed Value
$24,550
Average Bates County Assessed Value
$68,300
Average Missouri Assessed Value
$129,505
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Foster, Missouri
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 64745 | $5,790 | $18,175 | $24,550 | $30,425 | $53,970 |
Source: Ownwell
Property Tax Bills Across Foster, Missouri
In Foster, located in Bates 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 Foster is $24,550, and the property tax rate is applied to this assessed value to determine the tax bill. Factors such as property size, location, and condition can influence the assessed value. Homeowners in Foster can expect their property tax bills to vary. For instance, the 25th percentile tax bill is $101, while the 75th percentile tax bill is $311. Those in the 90th percentile might see tax bills as high as $408. These figures demonstrate that property taxes can significantly impact homeowners, especially when compared to the national median property tax rate of 0.99%. With the highest and lowest median tax bills both recorded at $241 in the zip code 64745, Foster's property tax landscape is relatively consistent, providing homeowners with a predictable financial obligation.
Average Foster Tax Bill
$241
Average Bates County Tax Bill
$704
Average Missouri Tax Bill
$1,606
Average United States Tax Bill
$2,690
Property Tax Bills Across Foster, Missouri
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 64745 | $58 | $101 | $241 | $311 | $408 |
Source: Ownwell