Festus, Missouri Property Taxes
The median property tax rate in Festus, MO is 0.82%, which is lower than both the national median of 0.99% and the Missouri state median of 1.20%. With the median home value in Festus at $148,160, the typical annual property tax bill amounts to $1,218, significantly below the national median of $2,690. Property taxes in Festus 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 Festus's property tax system, exploring available exemptions, and identifying opportunities for reductions can lead to substantial annual savings. Whether you're in the heart of Festus or another part of the city, comprehending the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Festus, 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 Festus Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Festus with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Festus 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 Festus, Missouri
Property taxes in Festus, Missouri, are vital in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Festus is 0.82%, which is lower than the U.S. national median of 0.99%. Local government entities within Festus set these rates annually, and they can vary significantly across different neighborhoods. Each year, Festus 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 Festus's effective property tax rate to other counties in Missouri and the national median. For comparison, the 63028 zip code has the highest median property tax rate of 0.82%, while the same zip code also has the lowest median tax rate of 0.82%. Understanding how these cities compare with Festus provides valuable insights into the varying tax landscape across Ste. Genevieve County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Festus Tax Rate
0.82%
Average Ste. Genevieve County Tax Rate
0.85%
Average Missouri Tax Rate
1.20%
Average United States Tax Rate
0.99%
Property Tax Rates Across Festus, Missouri
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 63028 | 0.73% | 0.79% | 0.82% | 0.85% | 1.00% |
Source: Ownwell
Property Tax Assessment Values Across Festus, Missouri
In Festus, 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 Ste. Genevieve 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 Festus, 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 Festus helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The highest and lowest median tax bills in the area are both $1218, found in the 63028 zip code.
Average Festus Assessed Value
$148,160
Average Ste. Genevieve County Assessed Value
$98,970
Average Missouri Assessed Value
$129,505
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Festus, Missouri
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 63028 | $31,954 | $63,480 | $148,160 | $232,450 | $308,938 |
Source: Ownwell
Property Tax Bills Across Festus, Missouri
In Festus, located in Ste. Genevieve County, MO, property tax bills are calculated based on the assessed value of the property and the local tax rate. The assessed value is typically a percentage of the property's market value, which is determined by the county assessor. For example, if a home's market value is $148,160, the assessed value will be a fraction of this amount, depending on local assessment ratios. The tax rate, often expressed as a percentage, is then applied to the assessed value to determine the annual tax bill. In Festus, property tax bills can vary significantly. Homeowners at the 25th percentile pay around $566 annually, while those at the 75th percentile face bills closer to $1,971. At the 90th percentile, the tax bill can reach up to $2,558. These property taxes are crucial for funding local services such as schools, public safety, and infrastructure. For homeowners, understanding how their property tax bill is calculated can help in financial planning and ensuring they are not overpaying.
Average Festus Tax Bill
$1,218
Average Ste. Genevieve County Tax Bill
$853
Average Missouri Tax Bill
$1,606
Average United States Tax Bill
$2,690
Property Tax Bills Across Festus, Missouri
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 63028 | $266 | $566 | $1,218 | $1,971 | $2,558 |
Source: Ownwell