Forest City, Missouri Property Taxes
The median property tax rate in Forest City, MO is 1.18%, slightly higher than the national median of 0.99% but just below the Missouri state median of 1.20%. With the median home value in Forest City at $29,053, the typical annual property tax bill is $318, significantly lower than the national median of $2,690. Property taxes in Forest City are calculated based on the tax assessed value, which often falls below the market value due to various exemptions, including primary residence and agricultural exemptions. Understanding Forest City'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 Forest City or another part of Holt County, understanding the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Forest City, 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 Forest City Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Forest City with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Forest City 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 Forest City, Missouri
Property taxes in Forest City, Missouri, are essential for funding crucial local services such as public schools, road maintenance, and emergency services. The median tax rate in Forest City is 1.18%, which is higher than both the Missouri state median and the U.S. national median of 0.99%. Local government entities within Forest City set these rates annually, and they can vary significantly across different neighborhoods. Each year, Forest City 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 Forest City's effective property tax rate to other areas in Missouri and the national median. For comparison, the zip code 64451 has the highest median property tax rate of 1.18%, while the same zip code also has the lowest median tax rate of 1.18%. Understanding how these areas compare with Forest City provides valuable insights into the varying tax landscape across Holt County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Forest City Tax Rate
1.18%
Average Holt County Tax Rate
1.18%
Average Missouri Tax Rate
1.20%
Average United States Tax Rate
0.99%
Property Tax Rates Across Forest City, Missouri
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 64451 | 0.66% | 0.87% | 1.18% | 1.18% | 1.44% |
Source: Ownwell
Property Tax Assessment Values Across Forest City, Missouri
In Forest City, 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 Holt 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 Forest City, 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 Forest City helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. Forest City sees a range of property tax bills. For instance, the 25th percentile tax bill is $126, while the 75th percentile tax bill is $749. The highest median tax bill in the area is $318 in the 64451 zip code, which also happens to have the lowest median tax bill.
Average Forest City Assessed Value
$29,053
Average Holt County Assessed Value
$42,789
Average Missouri Assessed Value
$129,505
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Forest City, Missouri
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 64451 | $3,261 | $11,500 | $29,053 | $79,583 | $150,378 |
Source: Ownwell
Property Tax Bills Across Forest City, Missouri
In Forest City, property tax bills are calculated based on the assessed value of a home, which is typically a percentage of the property's market value. The median home price in Forest City is $29,053. Local tax authorities determine the assessed value and apply the relevant tax rate to compute the annual property tax bill. Several factors influence the final tax bill, including property location, home improvements, and any applicable exemptions. Homeowners in Forest City can expect a range of tax bills. At the 25th percentile, the tax bill is about $126, while at the 75th percentile, it rises to $749. For those at the 90th percentile, the bill can reach up to $1,634. The highest median tax bill in the area is $318, found in the 64451 zip code. These variations significantly impact homeowners, especially when compared to the national median property tax rate of 0.99%. Understanding these factors can help homeowners better anticipate their financial obligations and plan accordingly.
Average Forest City Tax Bill
$318
Average Holt County Tax Bill
$458
Average Missouri Tax Bill
$1,606
Average United States Tax Bill
$2,690
Property Tax Bills Across Forest City, Missouri
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 64451 | $35 | $126 | $318 | $749 | $1,634 |
Source: Ownwell