Freeman, Missouri Property Taxes
The median property tax rate in Freeman, MO is 1.42%, considerably higher than both the national median of 0.99% and the Missouri state median of 1.20%. With the median home value in Freeman, the typical annual property tax bill reaches $1,498, exceeding the national median of $2,690. Property taxes in Freeman are calculated based on the tax assessed value, which typically falls below the market value due to various exemptions like the primary residence and agricultural exemptions. Understanding Freeman'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 Freeman or another part of Cass County, understanding the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Freeman, Missouri Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.42%
Estimate Property Tax Bill
$1,472
Ownwell’s Freeman Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Freeman with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Freeman 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 Freeman, Missouri
Property taxes in Freeman, Missouri, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Freeman is 1.42%, significantly higher than both the Missouri state median and the U.S. national median of 0.99%. Local government entities within Freeman set these rates annually, and they can vary significantly across different neighborhoods. Each year, Freeman 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 Freeman's effective property tax rate to other counties in Missouri and the national median. For comparison, the 64746 zip code has the highest median property tax rate of 1.42%, while the same zip code also has the lowest median tax rate of 1.42%. Understanding how these cities compare with Freeman provides valuable insights into the varying tax landscape across Cass County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Freeman Tax Rate
1.42%
Average Cass County Tax Rate
1.46%
Average Missouri Tax Rate
1.20%
Average United States Tax Rate
0.99%
Property Tax Rates Across Freeman, Missouri
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 64746 | 1.33% | 1.40% | 1.42% | 1.52% | 1.52% |
Source: Ownwell
Property Tax Assessment Values Across Freeman, Missouri
In Freeman, 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 Cass 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 Freeman, 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. Freeman's median home price is $103,670, with tax bills ranging from $868 at the 25th percentile to $3,558 at the 90th percentile. The zip code 64746 has the highest median tax bill of $1,498. 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 Freeman helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Freeman Assessed Value
$103,670
Average Cass County Assessed Value
$149,060
Average Missouri Assessed Value
$129,505
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Freeman, Missouri
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 64746 | $31,020 | $57,180 | $103,670 | $180,070 | $249,940 |
Source: Ownwell
Property Tax Bills Across Freeman, Missouri
In Freeman, Cass County, MO, property tax bills are calculated based on the assessed value of a home, which is a percentage of its market value. The median home price in Freeman is $103,670. Homeowners can expect their tax bill to be influenced by this assessed value, along with the local tax rate set by the county. The tax bill varies significantly depending on the value of the property. For instance, the tax bill at the 25th percentile is $868, while at the 75th percentile, it rises to $2472, and at the 90th percentile, it reaches $3558. These property taxes fund essential community services such as schools, infrastructure, and emergency services. Homeowners in Freeman face a median tax bill of $1498, which is slightly higher than the national median property tax rate of 0.99%. Understanding how these factors interplay can help homeowners anticipate their annual tax obligations and manage their finances more effectively.
Average Freeman Tax Bill
$1,498
Average Cass County Tax Bill
$2,217
Average Missouri Tax Bill
$1,606
Average United States Tax Bill
$2,690
Property Tax Bills Across Freeman, Missouri
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 64746 | $457 | $868 | $1,498 | $2,472 | $3,558 |
Source: Ownwell