Fair Grove, Missouri Property Taxes
The median property tax rate in Fair Grove, MO is 0.88%, 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 Grove at $64,200, the typical annual property tax bill amounts to $526, significantly below the national median of $2,690. Property taxes in Fair Grove are calculated based on the assessed value, which usually falls below the market value due to various exemptions like the primary residence and agricultural exemptions. Understanding Fair Grove'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 Fair Grove 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
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 vital in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Fair Grove is 0.88%, which is lower than 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 counties in Missouri and the national median. For comparison, the 65648 zip code has the highest median property tax rate of 0.88%, while the same zip code also has the lowest median tax rate of 0.88%. Understanding how these cities compare with Fair Grove provides valuable insights into the varying tax landscape across Webster County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Fair Grove Tax Rate
0.88%
Average Webster County Tax Rate
0.95%
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 | 0.80% | 0.85% | 0.88% | 0.89% | 0.90% |
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 Webster 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 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. The median home price in Fair Grove is $64,200, with the median property tax bill at $526. The 25th percentile tax bill is $266, while the 75th percentile tax bill is $957, and the 90th percentile tax bill is $1,395.
Average Fair Grove Assessed Value
$64,200
Average Webster County Assessed Value
$95,600
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 | $20,220 | $30,700 | $64,200 | $111,400 | $158,720 |
Source: Ownwell
Property Tax Bills Across Fair Grove, Missouri
In Fair Grove, property tax bills are calculated by multiplying the assessed value of a home by the local tax rate. The assessed value is typically a percentage of the home's market value, which is determined by the county assessor. For instance, in Webster County, where Fair Grove is located, the median home price is $64,200. Homeowners in this area can expect varying tax bills, with the 25th percentile at $266 and the 75th percentile reaching $957. Factors influencing the tax bill include the property's assessed value, local tax rates, and any applicable exemptions. For example, properties in the zip code 65648 have a median tax bill of $526, which is relatively modest compared to the national median property tax rate of 0.99%. These taxes fund essential public services such as schools, infrastructure, and emergency services. Consequently, homeowners in Fair Grove need to budget for these annual expenses, as they directly impact their cost of living and the quality of local services.
Average Fair Grove Tax Bill
$526
Average Webster County Tax Bill
$871
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 | $184 | $266 | $526 | $957 | $1,395 |
Source: Ownwell