Fair Play, Missouri Property Taxes
The median property tax rate in Fair Play, MO is 0.87%, which is lower than both the national median of 0.99% and the Missouri state median of 1.20%. With the median home value in Fair Play, the typical annual property tax bill is $36, significantly below the national median of $2,690. Property taxes in Fair Play are calculated based on the tax assessed value, which often falls below the market value due to exemptions such as the primary residence and agricultural exemptions. Understanding Fair Play's property tax system, exploring available exemptions, and identifying opportunities for reductions can lead to substantial annual savings. Whether you're in the heart of Fair Play or another part of Morgan County, gaining insights into the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Fair Play, 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 Play Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Fair Play with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Fair Play 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 Morgan County for property tax calculations, accounting for any exemptions that may apply.
Property Tax Rates Across Fair Play, Missouri
Property taxes in Fair Play, Missouri, play a crucial role in funding essential local services, including public schools, road maintenance, and emergency services. The median tax rate in Fair Play is 0.87%, which is below the U.S. national median of 0.99%. Local government entities within Fair Play set these rates annually, and they can vary significantly across different neighborhoods. Each year, Fair Play 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 Play's effective property tax rate to other areas in Missouri and the national median. For comparison, the zip code 65649 has the highest median property tax rate of 0.87%, while the same zip code also has the lowest median tax rate of 0.87%. Understanding how these areas compare with Fair Play provides valuable insights into the varying tax landscape across Morgan County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Fair Play Tax Rate
0.87%
Average Morgan County Tax Rate
0.87%
Average Missouri Tax Rate
1.20%
Average United States Tax Rate
0.99%
Property Tax Rates Across Fair Play, Missouri
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 65649 | 0.87% | 0.87% | 0.87% | 0.87% | 0.87% |
Source: Ownwell
Property Tax Assessment Values Across Fair Play, Missouri
In Fair Play, 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 Morgan 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 Fair Play, 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. The median home price in Fair Play is $4,200, with tax bills ranging from $36 at the 25th percentile to $36 at the 90th percentile. 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 Play helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Fair Play Assessed Value
$4,200
Average Morgan County Assessed Value
$49,350
Average Missouri Assessed Value
$129,505
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Fair Play, Missouri
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 65649 | $4,200 | $4,200 | $4,200 | $4,200 | $4,200 |
Source: Ownwell
Property Tax Bills Across Fair Play, Missouri
In Fair Play, located in Morgan County, MO, property tax bills are calculated based on the assessed value of a property, which is a percentage of its market value. The median home price in Fair Play is $4,200, and the property tax rate in this region is determined by local taxing authorities. Homeowners in Fair Play can expect their tax bills to be relatively low compared to national averages, with the 25th, 75th, and 90th percentile tax bills all being $36. These tax bills reflect the local government's need for revenue to fund public services such as schools, infrastructure, and emergency services. The assessed value is a crucial factor in determining the tax bill, and any changes in the market value of properties can affect the tax amount. For homeowners, understanding how these factors interplay is essential for financial planning and anticipating annual expenses. Despite the low property values, the tax rate ensures that sufficient funds are collected to maintain community services and infrastructure.
Average Fair Play Tax Bill
$36
Average Morgan County Tax Bill
$420
Average Missouri Tax Bill
$1,606
Average United States Tax Bill
$2,690
Property Tax Bills Across Fair Play, Missouri
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 65649 | $36 | $36 | $36 | $36 | $36 |
Source: Ownwell