Fort Meade, Missouri Property Taxes
The median property tax rate in Fort Meade, MO is 0.95%, slightly below the national median of 0.99% and the Missouri state median of 1.20%. With the median home value in Fort Meade at $7,200, the typical annual property tax bill is $68, significantly lower than the national median of $2,690. Property taxes in Fort Meade are based on the tax assessed value, which often falls below the market value due to various exemptions such as primary residence and agricultural exemptions. Understanding Fort Meade'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 Fort Meade or another part of the city, understanding the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Fort Meade, Missouri Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.95%
Estimate Property Tax Bill
$68
Ownwell’s Fort Meade Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Fort Meade with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Fort Meade 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 Fort Meade, Missouri
Property taxes in Fort Meade, Missouri, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Fort Meade is 0.95%, which is below the U.S. national median of 0.99%. Local government entities within Fort Meade set these rates annually, and they can vary significantly across different neighborhoods. Each year, Fort Meade 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 Fort Meade's effective property tax rate to other counties in Missouri and the national median. For comparison, the 33841 zip code has the highest median property tax rate of 0.95%, while the same 33841 zip code also has the lowest median tax rate of 0.95%. Understanding how these cities compare with Fort Meade provides valuable insights into the varying tax landscape across Morgan County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Fort Meade Tax Rate
0.95%
Average Morgan County Tax Rate
0.87%
Average Missouri Tax Rate
1.20%
Average United States Tax Rate
0.99%
Property Tax Rates Across Fort Meade, Missouri
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 33841 | 0.95% | 0.95% | 0.95% | 0.95% | 0.95% |
Source: Ownwell
Property Tax Assessment Values Across Fort Meade, Missouri
In Fort Meade, 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 Morgan 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 Fort Meade, 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 Fort Meade helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The median home price in Fort Meade is $7,200, with tax bills ranging around $68, highlighting the importance of understanding and managing assessed values.
Average Fort Meade Assessed Value
$7,200
Average Morgan County Assessed Value
$49,350
Average Missouri Assessed Value
$129,505
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Fort Meade, Missouri
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 33841 | $7,200 | $7,200 | $7,200 | $7,200 | $7,200 |
Source: Ownwell
Property Tax Bills Across Fort Meade, Missouri
In Fort Meade, located in Morgan County, MO, property tax bills are calculated based on the assessed value of the property. The assessed value is determined by the county assessor and represents a percentage of the property's market value. For homeowners in Fort Meade, the median home price is $7,200, which is significantly lower than the national median home price. Property tax rates in this region are applied to the assessed value to determine the annual tax bill. The property tax bill is influenced by various factors, including the assessed value of the home, local tax rates, and any applicable exemptions or deductions. In Fort Meade, the tax bills at the 25th, 75th, and 90th percentiles are uniformly $68, indicating a consistent tax rate across different property values. This consistency can provide a level of predictability for homeowners. Homeowners in Fort Meade benefit from relatively low property taxes compared to the national median property tax rate of 0.99%. This lower tax burden can make homeownership more affordable and financially manageable for residents.
Average Fort Meade Tax Bill
$68
Average Morgan County Tax Bill
$420
Average Missouri Tax Bill
$1,606
Average United States Tax Bill
$2,690
Property Tax Bills Across Fort Meade, Missouri
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 33841 | $68 | $68 | $68 | $68 | $68 |
Source: Ownwell