Fair Grove, Missouri Property Taxes
The median property tax rate in Fair Grove, MO is 0.97%, slightly below the national median of 0.99% and significantly lower than the Missouri state median of 1.20%. With a median home value of $139,500 in Fair Grove, the typical annual property tax bill amounts to $1,447, which is well below the national median of $2,690. Property taxes in Fair Grove are calculated based on the assessed value, which is usually less than the market value due to exemptions like those for primary residences and agricultural land. By understanding Fair Grove's property tax system, exploring available exemptions, and identifying opportunities for reductions, homeowners can achieve substantial annual savings. Whether you reside in the heart of Fair Grove or another part of Greene County, gaining insights into the local property tax system is beneficial for both homeowners and real estate investors.
Last Updated June 14, 2024
Fair Grove, 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 FAIR GROVE Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in FAIR GROVE with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in FAIR GROVE 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 Fair Grove, Missouri
Property taxes in Fair Grove, Missouri, are crucial for funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Fair Grove is 0.97%, which is slightly below the U.S. national median of 0.99%. Local government entities within Fair Grove set these rates annually, and they can vary significantly across different neighborhoods. Each year, Fair Grove 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 Fair Grove's effective property tax rate to other areas in Missouri and the national median. For comparison, the zip code 65648 has both the highest and lowest median property tax rate of 0.97%. Understanding how these areas compare with Fair Grove provides valuable insights into the varying tax landscape across Greene County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Fair Grove Tax Rate
0.97%
Average Greene County Tax Rate
1.01%
Average Missouri Tax Rate
1.20%
Average United States Tax Rate
0.99%
Property Tax Rates Across Fair Grove, Missouri
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 65648 | 0.95% | 0.97% | 0.97% | 1.08% | 1.08% |
Source: Ownwell
Property Tax Assessment Values Across Fair Grove, Missouri
In Fair Grove, 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 Greene 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 Fair Grove, 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 Fair Grove 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 $1,447 in the 65648 zip code, providing a clear benchmark for property owners.
Average Fair Grove Assessed Value
$139,500
Average Greene County Assessed Value
$140,200
Average Missouri Assessed Value
$129,505
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Fair Grove, Missouri
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 65648 | $43,500 | $86,700 | $139,500 | $198,100 | $288,100 |
Source: Ownwell
Property Tax Bills Across Fair Grove, Missouri
In Fair Grove, property tax bills are calculated based on the assessed value of a home, which is a percentage of the market value. For instance, with a median home price of $139,500, the assessed value is determined by local assessment practices. The assessed value is then multiplied by the local tax rate to calculate the annual property tax bill. In Greene County, the property tax bill can vary significantly. Homeowners in the 25th percentile pay around $901 annually, while those in the 75th percentile face bills closer to $1,997. At the 90th percentile, property tax bills can reach up to $2,873. The highest median tax bill in the area is $1,447, which aligns with the local zip code 65648. These tax bills impact homeowners by contributing to the overall cost of homeownership. While Fair Grove's property tax rates may seem moderate, they are essential for funding local services such as schools, emergency services, and infrastructure, ultimately influencing the community's quality of life.
Average Fair Grove Tax Bill
$1,447
Average Greene County Tax Bill
$1,465
Average Missouri Tax Bill
$1,606
Average United States Tax Bill
$2,690
Property Tax Bills Across Fair Grove, Missouri
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 65648 | $446 | $901 | $1,447 | $1,997 | $2,873 |
Source: Ownwell