Cape Fair, Missouri Property Taxes
The median property tax rate in Cape Fair, MO is 0.89%, 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 Cape Fair at $92,800, the typical annual property tax bill is $830, significantly less than the national median of $2,690. Property taxes in Cape Fair are calculated based on the assessed value, which often falls below the market value due to exemptions like the primary residence and agricultural exemptions. Understanding Cape Fair'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 Cape Fair or another part of Barry County, understanding the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Cape Fair, Missouri Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.89%
Estimate Property Tax Bill
$826
Ownwell’s Cape Fair Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Cape Fair with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Cape Fair 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 Barry County for property tax calculations, accounting for any exemptions that may apply.
Property Tax Rates Across Cape Fair, Missouri
Property taxes in Cape Fair, Missouri, are crucial for funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Cape Fair is 0.89%, which is lower than the U.S. national median of 0.99%. Local government entities within Cape Fair set these rates annually, and they can vary significantly across different neighborhoods. Each year, Cape Fair 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 Cape Fair's effective property tax rate to other areas within Barry County and the national median. For comparison, the zip code 65624 has the highest median property tax rate of 0.89%, while the same zip code also has the lowest median tax rate of 0.89%. Understanding how these areas compare with Cape Fair provides valuable insights into the varying tax landscape across Barry County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Cape Fair Tax Rate
0.89%
Average Barry County Tax Rate
0.86%
Average Missouri Tax Rate
1.20%
Average United States Tax Rate
0.99%
Property Tax Rates Across Cape Fair, Missouri
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 65624 | 0.67% | 0.80% | 0.89% | 0.94% | 1.05% |
Source: Ownwell
Property Tax Assessment Values Across Cape Fair, Missouri
Understanding the difference between "market value" and "assessed value" is crucial for comprehending property taxes in Cape Fair, Missouri. 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 Barry 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 Cape Fair, 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 Cape Fair helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The median home price in Cape Fair is $92,800, with annual tax bills ranging from $441 at the 25th percentile to $2,192 at the 90th percentile. The zip code 65624 has both the highest and lowest median tax bill at $830.
Average Cape Fair Assessed Value
$92,800
Average Barry County Assessed Value
$82,200
Average Missouri Assessed Value
$129,505
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Cape Fair, Missouri
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 65624 | $25,780 | $57,875 | $92,800 | $147,225 | $244,530 |
Source: Ownwell
Property Tax Bills Across Cape Fair, Missouri
In Cape Fair, a city in Barry County, MO, property tax bills are calculated based on the assessed value of the property. The assessed value is typically a percentage of the property's market value, which is determined by local assessors. Homeowners in Cape Fair can expect their property tax rates to be influenced by various factors including the property's location, size, and improvements. For instance, with a median home price of $92,800, property tax bills can vary significantly. The 25th percentile tax bill is around $441, while the 75th percentile tax bill reaches up to $1,294. At the 90th percentile, homeowners might see tax bills as high as $2,192. The median property tax bill in Cape Fair stands at $830, which is relatively lower than the national median property tax rate of 0.99%. These tax bills are crucial for homeowners as they contribute to local services such as schools, infrastructure, and emergency services, directly impacting the community's quality of life.
Average Cape Fair Tax Bill
$830
Average Barry County Tax Bill
$696
Average Missouri Tax Bill
$1,606
Average United States Tax Bill
$2,690
Property Tax Bills Across Cape Fair, Missouri
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 65624 | $250 | $441 | $830 | $1,294 | $2,192 |
Source: Ownwell