Fairdealing, Missouri Property Taxes
The median property tax rate in Fairdealing, MO is 0.72%, which is lower than both the national median of 0.99% and the Missouri state median of 1.20%. With a median home value of $46,600 in Fairdealing, the typical annual property tax bill amounts to $358, significantly lower than the national median of $2,690. Property taxes in Fairdealing are calculated based on the tax assessed value, which often falls below the market value due to various exemptions, such as primary residence and agricultural exemptions. Understanding Fairdealing'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 Fairdealing or another part of Ripley County, understanding the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Fairdealing, Missouri Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.72%
Estimate Property Tax Bill
$336
Ownwell’s Fairdealing Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Fairdealing with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Fairdealing 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 Fairdealing, Missouri
Property taxes in Fairdealing, Missouri, are crucial for funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Fairdealing is 0.72%, which is lower than both the Missouri state median and the U.S. national median of 0.99%. Local government entities within Fairdealing set these rates annually, and they can vary significantly across different neighborhoods. Each year, Fairdealing 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 Fairdealing's effective property tax rate to other counties in Missouri and the national median. For comparison, the zip code 63939 has the highest median property tax rate of 0.72%, while the same zip code also has the lowest median tax rate of 0.72%. Understanding how these cities compare with Fairdealing provides valuable insights into the varying tax landscape across Ripley County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Fairdealing Tax Rate
0.72%
Average Ripley County Tax Rate
0.74%
Average Missouri Tax Rate
1.20%
Average United States Tax Rate
0.99%
Property Tax Rates Across Fairdealing, Missouri
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 63939 | 0.67% | 0.70% | 0.72% | 0.75% | 0.77% |
Source: Ownwell
Property Tax Assessment Values Across Fairdealing, Missouri
In Fairdealing, 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 Ripley 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 Fairdealing, 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 Fairdealing helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The median home price is $46,600, with tax bills ranging from $130 at the 25th percentile to $1,061 at the 90th percentile. The zip code 63939 has the highest and lowest median tax bill of $358.
Average Fairdealing Assessed Value
$46,600
Average Ripley County Assessed Value
$32,050
Average Missouri Assessed Value
$129,505
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Fairdealing, Missouri
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 63939 | $7,700 | $17,300 | $46,600 | $83,550 | $128,100 |
Source: Ownwell
Property Tax Bills Across Fairdealing, Missouri
In Fairdealing, located in Ripley County, MO, property tax bills are calculated based on the assessed value of a home and the local tax rate. The assessed value is determined by the county assessor and is a percentage of the home's market value. For example, with a median home price of $46,600, the assessed value is typically a fraction of this amount, which is then multiplied by the local tax rate to determine the annual tax bill. Homeowners in Fairdealing experience a range of property tax bills. The 25th percentile tax bill is $130, while the 75th percentile tax bill is $605. At the 90th percentile, the tax bill can reach up to $1,061. The median tax bill in the area stands at $358, which is considerably lower than the national median property tax rate of 0.99%. These property taxes fund essential public services such as schools, infrastructure, and emergency services, directly impacting the quality of life for homeowners. Lower property taxes can make homeownership more affordable, but it's important to balance this with the need for adequate public services.
Average Fairdealing Tax Bill
$358
Average Ripley County Tax Bill
$258
Average Missouri Tax Bill
$1,606
Average United States Tax Bill
$2,690
Property Tax Bills Across Fairdealing, Missouri
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 63939 | $59 | $130 | $358 | $605 | $1,061 |
Source: Ownwell