Newtonia, Missouri Property Taxes
The median property tax rate in Newtonia, MO is 1.00%, slightly higher than the national median of 0.99% but lower than the Missouri state median of 1.20%. With a median home value of $42,400 in Newtonia, the typical annual property tax bill amounts to $425, which is significantly below the national median of $2,690. Property taxes in Newtonia are calculated based on the assessed value, which is often less than the market value due to various exemptions such as those for primary residences and agricultural properties. Understanding Newtonia'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 Newtonia 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
Newtonia, Missouri Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1%
Estimate Property Tax Bill
$424
Ownwell’s Newtonia Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Newtonia with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Newtonia 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 Newtonia, Missouri
Property taxes in Newtonia, Missouri, are vital in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Newtonia is 1.00%, higher than the U.S. national median of 0.99%. Local government entities within Newtonia set these rates annually, and they can vary significantly across different neighborhoods. Each year, Newtonia 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 Newtonia's effective property tax rate to other counties in Missouri and the national median. For comparison, the 64853 zip code has both the highest and lowest median property tax rate of 1.00%. Understanding how these cities compare with Newtonia 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 Newtonia Tax Rate
1.00%
Average Newton County Tax Rate
1.09%
Average Missouri Tax Rate
1.20%
Average United States Tax Rate
0.99%
Property Tax Rates Across Newtonia, Missouri
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 64853 | 1.00% | 1.00% | 1.00% | 1.00% | 1.00% |
Source: Ownwell
Property Tax Assessment Values Across Newtonia, Missouri
In Newtonia, 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 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 Newtonia, 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 Newtonia helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The zip code with the highest and lowest median tax bill is 64853, both at $425.
Average Newtonia Assessed Value
$42,400
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 Newtonia, Missouri
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 64853 | $42,400 | $42,400 | $42,400 | $42,400 | $42,400 |
Source: Ownwell
Property Tax Bills Across Newtonia, Missouri
In Newtonia, property tax bills are calculated based on the assessed value of a home, which is determined by the local tax assessor. The assessed value is a percentage of the market value of the property. Homeowners in Newtonia pay a median property tax of $425, which is significantly lower than the national median property tax rate of 0.99%. This means that for a median home price of $42,400, the property tax rate is relatively favorable for residents. Several factors influence the property tax bill, including the property's location, size, and improvements. Local government budgets and public service funding needs also play a role in determining tax rates. Lower property taxes can make homeownership more affordable, but they may also affect the quality of local services such as schools, public safety, and infrastructure. Homeowners should be aware of these trade-offs when considering the overall cost of living in Newtonia.
Average Newtonia Tax Bill
$425
Average Newton County Tax Bill
$791
Average Missouri Tax Bill
$1,606
Average United States Tax Bill
$2,690
Property Tax Bills Across Newtonia, Missouri
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 64853 | $425 | $425 | $425 | $425 | $425 |
Source: Ownwell