Ferrelview, Missouri Property Taxes
The median property tax rate in Ferrelview, MO is 1.24%, which is higher than both the national median of 0.99% and the Missouri state median of 1.20%. With the median home value in Ferrelview at $42,000, the typical annual property tax bill amounts to $522, which is significantly lower than the national median of $2,690. Property taxes in Ferrelview are calculated based on the tax assessed value, which typically falls below the market value due to various exemptions like the primary residence and agricultural exemptions. Understanding Ferrelview'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 Ferrelview 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
Ferrelview, Missouri Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.24%
Estimate Property Tax Bill
$521
Ownwell’s Ferrelview Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Ferrelview with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Ferrelview 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 Ferrelview, Missouri
Property taxes in Ferrelview, Missouri, are vital in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Ferrelview is 1.24%, higher than both the Missouri state median and the U.S. national median of 0.99%. Local government entities within Ferrelview set these rates annually, and they can vary significantly across different neighborhoods. Each year, Ferrelview 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 Ferrelview's effective property tax rate to other counties in Missouri and the national median. For comparison, the 64163 zip code has the highest median property tax rate of 1.24%, while the same zip code also has the lowest median tax rate of 1.24%. Understanding how these cities compare with Ferrelview provides valuable insights into the varying tax landscape across Platte County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Ferrelview Tax Rate
1.24%
Average Platte County Tax Rate
1.45%
Average Missouri Tax Rate
1.20%
Average United States Tax Rate
0.99%
Property Tax Rates Across Ferrelview, Missouri
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 64163 | 1.24% | 1.24% | 1.24% | 1.24% | 1.24% |
Source: Ownwell
Property Tax Assessment Values Across Ferrelview, Missouri
In Ferrelview, 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 Platte 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 Ferrelview, 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 Ferrelview helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. Notably, the highest and lowest median tax bills in the area are both $522, found in the zip code 64163.
Average Ferrelview Assessed Value
$42,000
Average Platte County Assessed Value
$243,632
Average Missouri Assessed Value
$129,505
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Ferrelview, Missouri
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 64163 | $42,000 | $42,000 | $42,000 | $42,000 | $42,000 |
Source: Ownwell
Property Tax Bills Across Ferrelview, Missouri
In Ferrelview, located in Platte County, MO, property tax bills are calculated based on the assessed value of the home. The assessed value is a percentage of the property's market value, which is determined by the county assessor. For example, if the median home price in Ferrelview is $42,000, the assessed value would be a fraction of this amount as determined by state law. The property tax rate is then applied to this assessed value to calculate the annual tax bill. Several factors influence the tax bill, including the home's market value, local tax rates, and any applicable exemptions or deductions. Homeowners in Ferrelview typically see a median property tax bill of $522, which is significantly lower than the national median property tax rate of 0.99%. This lower tax burden can make homeownership more affordable and attractive in the area. However, it's essential for homeowners to stay informed about their property's assessed value and any changes in local tax rates to anticipate their annual tax obligations accurately.
Average Ferrelview Tax Bill
$522
Average Platte County Tax Bill
$3,540
Average Missouri Tax Bill
$1,606
Average United States Tax Bill
$2,690
Property Tax Bills Across Ferrelview, Missouri
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 64163 | $522 | $522 | $522 | $522 | $522 |
Source: Ownwell