Fremont, Missouri Property Taxes
The median property tax rate in Fremont, MO is 0.85%, which is not only lower than the national median of 0.99% but also below the Missouri state median of 1.20%. With a median home value of $31,500 in Fremont, the typical annual property tax bill amounts to $269, significantly less than the national median of $2,690. Property taxes in Fremont are calculated based on the tax assessed value, which is often lower than the market value due to various exemptions, such as those for primary residences and agricultural properties. Understanding Fremont's property tax system, exploring available exemptions, and identifying opportunities for reductions can lead to substantial annual savings. Whether you're in the heart of Fremont 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
Fremont, Missouri Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.85%
Estimate Property Tax Bill
$268
Ownwell’s Fremont Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Fremont with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Fremont 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 Fremont, Missouri
Property taxes in Fremont, Missouri, are vital in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Fremont is 0.85%, which is lower than the U.S. national median of 0.99%. Local government entities within Fremont set these rates annually, and they can vary significantly across different neighborhoods. Each year, Fremont 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 Fremont's effective property tax rate to other counties in Missouri and the national median. For comparison, the 63941 zip code has both the highest and lowest median property tax rate of 0.85%. Understanding how these cities compare with Fremont 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 Fremont Tax Rate
0.85%
Average Morgan County Tax Rate
0.87%
Average Missouri Tax Rate
1.20%
Average United States Tax Rate
0.99%
Property Tax Rates Across Fremont, Missouri
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 63941 | 0.85% | 0.85% | 0.85% | 0.85% | 0.85% |
Source: Ownwell
Property Tax Assessment Values Across Fremont, Missouri
In Fremont, 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 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 Fremont, 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 Fremont helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The highest and lowest median tax bills in Fremont are both $269, found in zip code 63941.
Average Fremont Assessed Value
$31,500
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 Fremont, Missouri
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 63941 | $31,500 | $31,500 | $31,500 | $31,500 | $31,500 |
Source: Ownwell
Property Tax Bills Across Fremont, Missouri
In Fremont, Morgan County, MO, property tax bills are calculated based on the assessed value of your home. The assessed value is a percentage of the market value of the property, which is determined by the county assessor. For homeowners in Fremont, the median home price is $31,500. Property taxes are then calculated by applying the local tax rate to this assessed value. The typical tax bill for homeowners in Fremont falls around $269, which is consistent across various percentiles, including the 25th, 75th, and 90th percentiles. This uniformity indicates a stable and predictable tax environment for residents. Compared to the national median property tax rate of 0.99%, the tax rate in Fremont is relatively low, making it an attractive location for homeowners seeking affordability. These property taxes fund essential public services such as schools, infrastructure, and emergency services, directly impacting the quality of life in the community. For homeowners, understanding how these taxes are calculated helps in financial planning and assessing the long-term affordability of their property.
Average Fremont Tax Bill
$269
Average Morgan County Tax Bill
$420
Average Missouri Tax Bill
$1,606
Average United States Tax Bill
$2,690
Property Tax Bills Across Fremont, Missouri
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 63941 | $269 | $269 | $269 | $269 | $269 |
Source: Ownwell