Fairview, Missouri Property Taxes
The median property tax rate in Fairview, MO is 1.14%, which is higher than the national median of 0.99% but slightly lower than the Missouri state median of 1.20%. With a median home value of $35,750 in Fairview, the typical annual property tax bill amounts to $412, falling below the national median of $2,690. Property taxes in Fairview are calculated based on the tax assessed value, which is usually less than the market value due to exemptions such as those for primary residences and agricultural properties. Understanding Fairview'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 Fairview 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
Fairview, Missouri Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.14%
Estimate Property Tax Bill
$408
Ownwell’s Fairview Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Fairview with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Fairview 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 Fairview, Missouri
Property taxes in Fairview, Missouri, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Fairview is 1.14%, which is higher than both the Missouri state median and the U.S. national median of 0.99%. Local government entities within Fairview set these rates annually, and they can vary significantly across different neighborhoods. Each year, Fairview 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 Fairview's effective property tax rate to other counties in Missouri and the national median. For comparison, the zip code 64842 has the highest median property tax rate of 1.14%, while zip code 64862 has the lowest median tax rate of 1.12%. Understanding how these areas compare with Fairview provides valuable insights into the varying tax landscape across Newton County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Fairview Tax Rate
1.14%
Average Newton County Tax Rate
1.09%
Average Missouri Tax Rate
1.20%
Average United States Tax Rate
0.99%
Property Tax Rates Across Fairview, Missouri
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 64842 | 1.02% | 1.10% | 1.14% | 1.16% | 1.24% |
| 64862 | 1.12% | 1.12% | 1.12% | 1.12% | 1.12% |
Source: Ownwell
Property Tax Assessment Values Across Fairview, Missouri
In Fairview, 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 Newton 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 Fairview, 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. For instance, the median home price in Fairview is $35,750, with the 25th percentile tax bill at $215 and the 75th percentile at $628. The zip code with the highest median tax bill is 64862 at $821, while the lowest is 64842 at $412. 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 Fairview helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Fairview Assessed Value
$35,750
Average Newton County Assessed Value
$71,800
Average Missouri Assessed Value
$129,505
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Fairview, Missouri
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 64842 | $10,760 | $21,150 | $35,600 | $55,300 | $68,620 |
| 64862 | $73,400 | $73,400 | $73,400 | $73,400 | $73,400 |
Source: Ownwell
Property Tax Bills Across Fairview, Missouri
In Fairview, located in Newton County, MO, property tax bills are calculated based on the assessed value of a home. The assessed value is a percentage of the market value determined by the county assessor. Several factors influence the tax bill, including the home's market value, local tax rates, and any applicable exemptions or deductions. For instance, Fairview homeowners with a median home price of $35,750 can expect varying tax bills. The 25th percentile tax bill is approximately $215, while the 75th percentile tax bill reaches around $628. At the higher end, the 90th percentile tax bill is about $777. This variation in tax bills can significantly impact homeowners, especially when compared to the national median property tax rate of 0.99%. Understanding these factors helps homeowners anticipate their annual obligations. Notably, the highest median tax bill in Newton County is $821, whereas the lowest is $412, highlighting the range within the county itself.
Average Fairview Tax Bill
$412
Average Newton County Tax Bill
$791
Average Missouri Tax Bill
$1,606
Average United States Tax Bill
$2,690
Property Tax Bills Across Fairview, Missouri
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 64842 | $121 | $215 | $412 | $625 | $770 |
| 64862 | $821 | $821 | $821 | $821 | $821 |
Source: Ownwell