Foley, Missouri Property Taxes
The median property tax rate in Foley, MO is 1.09%, slightly higher than the national median of 0.99% but below the Missouri state median of 1.20%. With the median home value in Foley at $60,430, the typical annual property tax bill amounts to $663, which is notably lower than the national median of $2,690. Property taxes in Foley are based on the assessed value, which often falls below the market value due to exemptions such as primary residence and agricultural exemptions. Understanding Foley'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 Foley or another part of Lincoln County, understanding the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Foley, Missouri Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.09%
Estimate Property Tax Bill
$659
Ownwell’s Foley Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Foley with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Foley 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 Foley, Missouri
Property taxes in Foley, Missouri, are crucial for funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Foley is 1.09%, higher than both the Missouri state median and the U.S. national median of 0.99%. Local government entities within Foley set these rates annually, and they can vary significantly across different neighborhoods. Each year, Foley 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 Foley's effective property tax rate to other counties in Missouri and the national median. For comparison, the 63347 zip code has the highest median property tax rate of 1.09%, while the 63347 zip code also has the lowest median tax rate of 1.09%. Understanding how these cities compare with Foley provides valuable insights into the varying tax landscape across Lincoln County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Foley Tax Rate
1.09%
Average Lincoln County Tax Rate
1.17%
Average Missouri Tax Rate
1.20%
Average United States Tax Rate
0.99%
Property Tax Rates Across Foley, Missouri
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 63347 | 1.07% | 1.09% | 1.09% | 1.09% | 1.18% |
Source: Ownwell
Property Tax Assessment Values Across Foley, Missouri
In Foley, 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 Lincoln 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 Foley, 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 Foley helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The zip code with the highest median tax bill in Foley is 63347, with a median tax bill of $663.00.
Average Foley Assessed Value
$60,430
Average Lincoln County Assessed Value
$149,220
Average Missouri Assessed Value
$129,505
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Foley, Missouri
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 63347 | $1,453 | $21,000 | $60,430 | $146,035 | $239,081 |
Source: Ownwell
Property Tax Bills Across Foley, Missouri
In Foley, located in Lincoln County, MO, property tax bills are calculated based on the assessed value of a home, which is a percentage of its market value. The assessed value is then multiplied by the local tax rate to determine the tax bill. Homeowners in Foley experience a range of property tax bills, with the 25th percentile paying around $230 and the 75th percentile paying up to $1,589. The 90th percentile can see tax bills as high as $2,605. Several factors influence the tax bill, including the property's assessed value, local tax rates, and any applicable exemptions or deductions. For example, the median home price in Foley is $60,430, which serves as a basis for calculating the assessed value. Compared to the national median property tax rate of 0.99%, Foley's property tax rates can significantly impact homeowners' financial planning. Understanding these factors helps homeowners anticipate their annual tax obligations and manage their budgets effectively.
Average Foley Tax Bill
$663
Average Lincoln County Tax Bill
$1,734
Average Missouri Tax Bill
$1,606
Average United States Tax Bill
$2,690
Property Tax Bills Across Foley, Missouri
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 63347 | $18 | $230 | $663 | $1,589 | $2,605 |
Source: Ownwell