Faucett, Missouri Property Taxes
The median property tax rate in Faucett, MO is 1.29%, considerably higher than both the national median of 0.99% and the Missouri state median of 1.20%. With the median home value in Faucett at $122,420, the typical annual property tax bill reaches $1,521, exceeding the national median of $2,690. Property taxes in Faucett are calculated based on the tax assessed value, which typically falls below the market value due to various exemptions like the primary residence and agricultural exemptions. Understanding Faucett'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 Faucett 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
Faucett, 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 Faucett Property Tax Bill Calculator empowers homeowners, real estate investors, and potential buyers to estimate their annual property taxes in Faucett with just two simple data points. By inputting your property's estimated assessed value, the calculator utilizes the median tax rate in Faucett to provide an accurate estimate of your property tax bill. This valuable tool helps you anticipate potential tax liabilities, offering peace of mind and financial clarity. For those interested in more granular insights, neighborhood-level trends are available further down the page. Your property’s assessed value is determined by Buchanan County for property tax purposes, taking into account any applicable exemptions.
Property Tax Rates Across Faucett, Missouri
Property taxes in Faucett, Missouri, are vital in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Faucett is 1.29%, higher than both the Missouri state median and the U.S. national median of 0.99%. Local government entities within Faucett set these rates annually, and they can vary significantly across different neighborhoods. Each year, Faucett 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 Faucett's effective property tax rate to other counties in Missouri and the national median. For comparison, the 64448 zip code has the highest median property tax rate of 1.29%, while the 64448 zip code also has the lowest median tax rate of 1.29%. Understanding how these cities compare with Faucett provides valuable insights into the varying tax landscape across Buchanan County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Faucett Tax Rate
1.29%
Average Buchanan County Tax Rate
1.25%
Average Missouri Tax Rate
1.20%
Average United States Tax Rate
0.99%
Property Tax Rates Across Faucett, Missouri
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 64448 | 1.11% | 1.21% | 1.29% | 1.31% | 1.31% |
Source: Ownwell
Property Tax Assessment Values Across Faucett, Missouri
In Faucett, 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 Buchanan County Assessment Office 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 Faucett, 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 Faucett helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The zip code 64448 has the highest median tax bill of $1,521, which is significantly higher than the national median property tax rate of 0.99%.
Average Faucett Assessed Value
$122,420
Average Buchanan County Assessed Value
$72,855
Average Missouri Assessed Value
$129,505
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Faucett, Missouri
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 64448 | $41,968 | $71,505 | $122,420 | $175,980 | $242,576 |
Source: Ownwell
Property Tax Bills Across Faucett, Missouri
In Faucett, located in Buchanan County, MO, property tax bills are determined by assessing the market value of a home and applying the local tax rate to this assessed value. The median home price in Faucett is $122,420, and the property tax rate is a crucial factor in calculating the final tax bill. Homeowners in this region typically face property tax bills that vary widely, with the 25th percentile tax bill at $882 and the 75th percentile tax bill reaching $2,180. For those in the 90th percentile, the tax bill can go up to $3,032. These tax bills are influenced by several factors, including the assessed value of the property, any applicable exemptions, and the local tax rate. Compared to the national median property tax rate of 0.99%, the tax burden in Faucett can be considered moderate. Understanding these components is essential for homeowners as it directly impacts their annual financial obligations and overall cost of homeownership.
Average Faucett Tax Bill
$1,521
Average Buchanan County Tax Bill
$904
Average Missouri Tax Bill
$1,606
Average United States Tax Bill
$2,690
Property Tax Bills Across Faucett, Missouri
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 64448 | $532 | $882 | $1,521 | $2,180 | $3,032 |
Source: Ownwell