Newtown, Missouri Property Taxes
The median property tax rate in Newtown, MO is 1.17%, slightly lower than the state median of 1.20% but still above the national median of 0.99%. With a median home value of $69,540, the typical annual property tax bill in Newtown reaches $821, which is below the national median of $2,690. Property taxes in Newtown are calculated based on the tax assessed value, which often falls below the market value due to various exemptions, such as those for primary residences and agricultural properties. Understanding Newtown'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 Newtown 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
Newtown, Missouri Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.17%
Estimate Property Tax Bill
$814
Ownwell’s Newtown Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Newtown with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Newtown 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 Newtown, Missouri
Property taxes in Newtown, Missouri, are vital in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Newtown is 1.17%, higher than both the Missouri state median and the U.S. national median of 0.99%. Local government entities within Newtown set these rates annually, and they can vary significantly across different neighborhoods. Each year, Newtown 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 Newtown's effective property tax rate to other counties in Missouri and the national median. For comparison, the 64667 zip code has the highest median property tax rate of 1.17%, while the 64667 zip code also has the lowest median tax rate of 1.17%. Understanding how these cities compare with Newtown provides valuable insights into the varying tax landscape across Putnam County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Newtown Tax Rate
1.17%
Average Putnam County Tax Rate
1.20%
Average Missouri Tax Rate
1.20%
Average United States Tax Rate
0.99%
Property Tax Rates Across Newtown, Missouri
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 64667 | 0.82% | 1.10% | 1.17% | 1.36% | 1.66% |
Source: Ownwell
Property Tax Assessment Values Across Newtown, Missouri
In Newtown, 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 Putnam 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. 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 Newtown helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. For instance, zip code 64667 has the highest and lowest median tax bill at $821.00.
Average Newtown Assessed Value
$69,540
Average Putnam County Assessed Value
$54,500
Average Missouri Assessed Value
$129,505
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Newtown, Missouri
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 64667 | $16,900 | $38,678 | $69,540 | $115,078 | $191,250 |
Source: Ownwell
Property Tax Bills Across Newtown, Missouri
In Newtown, Putnam County, MO, property tax bills are calculated based on the assessed value of a home, which is typically a percentage of the property's market value. For example, with a median home price of $69,540, the assessed value is determined, and then the local tax rate is applied to this value. The resulting tax bill reflects this calculation and can vary significantly depending on the property's assessed value and the tax rate applied. Several factors influence the final tax bill, including property location, improvements, and market conditions. Homeowners in Newtown can expect tax bills ranging from $453 at the 25th percentile to $2,425 at the 90th percentile. The median tax bill stands at $821, which is relatively modest compared to the national median property tax rate of 0.99%. These property taxes directly impact homeowners by contributing to local services and infrastructure, such as schools, roads, and emergency services. Therefore, understanding how property taxes are calculated and their implications is crucial for homeowners in managing their financial responsibilities.
Average Newtown Tax Bill
$821
Average Putnam County Tax Bill
$636
Average Missouri Tax Bill
$1,606
Average United States Tax Bill
$2,690
Property Tax Bills Across Newtown, Missouri
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 64667 | $187 | $453 | $821 | $1,451 | $2,425 |
Source: Ownwell