Fremont, Missouri Property Taxes
The median property tax rate in Fremont, Missouri is 0.71%, considerably lower than both the national median of 0.99% and the Missouri state median of 1.20%. With the median home value in Fremont, the typical annual property tax bill reaches $60, significantly below the national median of $2,690. Property taxes in Fremont 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 Fremont'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 Fremont 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
Fremont, Missouri Property Tax Bill Calculator
$100,000
$2,500,000
$5,000,000
Average Tax Rate
1.2%
Estimate Property Tax Bill
$2,400
Ownwell’s Fremont Property Tax Bill Calculator assists homeowners, real estate investors, and potential buyers in estimating their annual property taxes in Fremont with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Fremont 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 Ripley County for property tax calculations, accounting for any exemptions that may apply.
Property Tax Rates Across Fremont, Missouri
Property taxes in Fremont, Missouri, are crucial for funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Fremont is 0.71%, lower than both the Missouri state median and the U.S. national median of 0.99%. Local government entities within Fremont set these rates annually, and they can vary significantly across different neighborhoods. Each year, Fremont 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 Fremont's effective property tax rate to other counties in Missouri and the national median. For comparison, the 63941 zip code has both the highest and lowest median property tax rate of 0.71%. Understanding how these cities compare with Fremont 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 Fremont Tax Rate
0.71%
Average Ripley County Tax Rate
0.74%
Average Missouri Tax Rate
1.20%
Average United States Tax Rate
0.99%
Property Tax Rates Across Fremont, Missouri
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 63941 | 0.67% | 0.68% | 0.71% | 0.71% | 0.71% |
Source: Ownwell
Property Tax Assessment Values Across Fremont, Missouri
In Fremont, 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 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 Fremont, 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 25th percentile tax bill in Fremont is $21, while the 75th percentile tax bill is $151, and the 90th percentile tax bill reaches $301. 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 Fremont helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Fremont Assessed Value
$8,600
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 Fremont, Missouri
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 63941 | $2,000 | $3,000 | $8,600 | $22,150 | $42,840 |
Source: Ownwell
Property Tax Bills Across Fremont, Missouri
In Fremont, Ripley County, MO, property tax bills are calculated based on the assessed value of a home, which is a percentage of its market value. The median home price in Fremont is $8,600. Local tax authorities determine the assessed value and apply the local tax rate to compute the tax bill. For instance, the national median property tax rate is 0.99%, but local rates can vary. Several factors influence the tax bill, including the home's assessed value, local tax rates, and any applicable exemptions. In Fremont, the tax bill at the 25th percentile is $21, while at the 75th percentile, it reaches $151. For those at the 90th percentile, the tax bill can be as high as $301. These variations reflect differences in property values and applicable exemptions. For homeowners, understanding these factors is crucial as they directly impact annual property tax obligations. Higher assessed values and rates can lead to significant tax bills, affecting overall homeownership costs.
Average Fremont Tax Bill
$60
Average Ripley County Tax Bill
$258
Average Missouri Tax Bill
$1,606
Average United States Tax Bill
$2,690
Property Tax Bills Across Fremont, Missouri
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 63941 | $14 | $21 | $60 | $151 | $301 |
Source: Ownwell