Fairview, Missouri Property Taxes
The median property tax rate in Fairview, MO is 0.80%, which is notably lower than both the national median of 0.99% and Missouri's state median of 1.20%. With a median home value of $80,550 in Fairview, the typical annual property tax bill amounts to $680, significantly below the national median of $2,690. Property taxes in Fairview are determined based on the tax assessed value, which is often less than the market value due to exemptions such as those for primary residences and agricultural properties. Understanding Fairview's property tax system, exploring available exemptions, and identifying potential reductions can result in substantial annual savings. Whether you're located in the heart of Fairview or another part of Barry County, gaining a thorough understanding of the local property tax system is advantageous for both homeowners and real estate investors.
Last Updated June 14, 2024
Fairview, 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 Fairview Property Tax Bill Calculator is an invaluable tool for homeowners, real estate investors, and potential buyers to estimate their annual property taxes in Fairview with just two simple data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Fairview to provide an accurate estimate of your property tax bill. This user-friendly tool offers essential insights into potential tax liabilities, helping you make informed financial decisions. For those interested in more granular data, you can explore neighborhood-level trends by scrolling down. Your property’s assessed value, determined by the county, is crucial for property tax calculations and may include applicable exemptions.
Property Tax Rates Across Fairview, Missouri
Property taxes in Fairview, Missouri, are crucial in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Fairview is 0.80%, which is lower than the U.S. national median of 0.99%. Local government entities within Fairview set these rates annually, and they can vary significantly across different neighborhoods. Each year, Fairview 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 Fairview's effective property tax rate to other counties in Missouri and the national median. For comparison, the 64842 zip code has the highest median property tax rate of 0.80%, while the 64842 zip code also has the lowest median tax rate of 0.80%. Understanding how these cities compare with Fairview 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 Fairview Tax Rate
0.80%
Average Barry County Tax Rate
0.86%
Average Missouri Tax Rate
1.20%
Average United States Tax Rate
0.99%
Property Tax Rates Across Fairview, Missouri
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 64842 | 0.63% | 0.72% | 0.80% | 0.86% | 0.93% |
Source: Ownwell
Property Tax Assessment Values Across Fairview, Missouri
In Fairview, 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 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 Fairview, 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 Fairview helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The zip code 64842 has the highest median tax bill at $680.
Average Fairview Assessed Value
$80,550
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 Fairview, Missouri
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 64842 | $29,030 | $48,800 | $80,550 | $156,575 | $218,120 |
Source: Ownwell
Property Tax Bills Across Fairview, Missouri
In Fairview, Barry County, MO, property tax bills are calculated based on the assessed value of a home, which is a percentage of its market value. Homeowners in Fairview typically face a median property tax rate of 0.99%, which aligns with the national median. Factors influencing the tax bill include the home's assessed value, local tax rates, and any applicable exemptions. For instance, the median home price in Fairview is $80,550, and the tax bill can range significantly: from the 25th percentile at $412 to the 75th percentile at $1,221, and up to the 90th percentile at $1,813. This variability highlights how different property values and local tax rates can impact homeowners. The highest and lowest median tax bills in the county both stand at $680, indicating some consistency in certain areas. Understanding these factors helps homeowners anticipate their financial responsibilities and plan accordingly.
Average Fairview Tax Bill
$680
Average Barry County Tax Bill
$696
Average Missouri Tax Bill
$1,606
Average United States Tax Bill
$2,690
Property Tax Bills Across Fairview, Missouri
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 64842 | $224 | $412 | $680 | $1,221 | $1,813 |
Source: Ownwell