Newtown, Missouri Property Taxes
The median property tax rate in Newtown, MO is 0.51%, significantly lower than both the national median of 0.99% and the Missouri state median of 1.20%. With the median home value in Newtown at $64,980, the typical annual property tax bill is $336, which is well below the national median of $2,690. Property taxes in Newtown are calculated based on the tax assessed value, which often falls below the market value due to various exemptions, such as those for primary residences and agricultural properties. Understanding Newtown'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 Newtown or another part of the city, comprehending the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Newtown, 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 Newtown Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Newtown with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Newtown 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 Newtown, Missouri
Property taxes in Newtown, Missouri, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Newtown is 0.51%, which is significantly lower than the U.S. national median of 0.99%. Local government entities within Newtown set these rates annually, and they can vary across different neighborhoods. Each year, Newtown 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 Newtown's effective property tax rate to other counties in Missouri and the national median. For comparison, the zip code 64667 has both the highest and lowest median property tax rate of 0.51%. Understanding how these areas compare with Newtown provides valuable insights into the varying tax landscape across Sullivan County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Newtown Tax Rate
0.51%
Average Sullivan County Tax Rate
0.37%
Average Missouri Tax Rate
1.20%
Average United States Tax Rate
0.99%
Property Tax Rates Across Newtown, Missouri
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 64667 | 0.51% | 0.51% | 0.51% | 0.51% | 0.51% |
Source: Ownwell
Property Tax Assessment Values Across Newtown, Missouri
In Newtown, 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 Sullivan 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 Newtown, 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. For example, the median home price in Newtown is $64,980, with tax bills ranging from $73 at the 25th percentile to $719 at the 90th percentile. The highest median tax bill is found in zip code 64667. By understanding these valuation concepts, property owners can better navigate their tax responsibilities and identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Newtown Assessed Value
$64,980
Average Sullivan County Assessed Value
$82,754
Average Missouri Assessed Value
$129,505
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Newtown, Missouri
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 64667 | $5,715 | $10,640 | $64,980 | $107,160 | $139,023 |
Source: Ownwell
Property Tax Bills Across Newtown, Missouri
In Newtown, Sullivan County, MO, property tax bills are calculated based on the assessed value of a home, which is a percentage of its market value. For instance, the median home price in Newtown is $64,980, and this value is used to determine the assessed value for tax purposes. The tax rate is then applied to this assessed value to calculate the annual property tax bill. Factors influencing the tax bill include the property's assessed value, local tax rates, and any applicable exemptions. Homeowners in Newtown can expect tax bills to vary significantly. For example, the 25th percentile tax bill is $73, while the 75th percentile tax bill is $556. At the 90th percentile, the tax bill can go up to $719. These property taxes impact homeowners by contributing to local services such as schools, infrastructure, and emergency services. Despite the variations, the property tax rates in Newtown are relatively modest compared to the national median property tax rate of 0.99%.
Average Newtown Tax Bill
$336
Average Sullivan County Tax Bill
$330
Average Missouri Tax Bill
$1,606
Average United States Tax Bill
$2,690
Property Tax Bills Across Newtown, Missouri
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 64667 | $31 | $73 | $336 | $556 | $719 |
Source: Ownwell