Fair Grove, Missouri Property Taxes
The median property tax rate in Fair Grove, MO is 0.47%, significantly lower than both the national median of 0.99% and the Missouri state median of 1.20%. With a median home value of $42,184 in Fair Grove, the typical annual property tax bill is around $197, which is well below the national median of $2,690. Property taxes in Fair Grove are calculated based on the tax assessed value, which often falls below the market value due to various exemptions like the primary residence and agricultural exemptions. Understanding Fair Grove'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 Fair Grove 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
Fair Grove, Missouri Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.47%
Estimate Property Tax Bill
$198
Ownwell’s Fair Grove Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Fair Grove with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Fair Grove 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 Fair Grove, Missouri
Property taxes in Fair Grove, Missouri, are crucial for funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Fair Grove is 0.47%, which is lower than both the Missouri state median and the U.S. national median of 0.99%. Local government entities within Fair Grove set these rates annually, and they can vary significantly across different neighborhoods. Each year, Fair Grove 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 Fair Grove's effective property tax rate to other counties in Missouri and the national median. For comparison, the 65648 zip code has the highest median property tax rate of 0.47%, while the same 65648 zip code also has the lowest median tax rate of 0.47%. Understanding how these cities compare with Fair Grove provides valuable insights into the varying tax landscape across Greene County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Fair Grove Tax Rate
0.47%
Average Taney County Tax Rate
0.97%
Average Missouri Tax Rate
1.20%
Average United States Tax Rate
0.99%
Property Tax Rates Across Fair Grove, Missouri
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 65648 | 0.47% | 0.47% | 0.47% | 0.47% | 0.47% |
Source: Ownwell
Property Tax Assessment Values Across Fair Grove, Missouri
In Fair Grove, 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 Taney 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 Fair Grove, 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 Fair Grove helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The median property tax bill in Fair Grove is $197, with the highest and lowest median tax bills both being $197 in the zip code 65648.
Average Fair Grove Assessed Value
$42,184
Average Taney County Assessed Value
$44,055
Average Missouri Assessed Value
$129,505
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Fair Grove, Missouri
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 65648 | $42,184 | $42,184 | $42,184 | $42,184 | $42,184 |
Source: Ownwell
Property Tax Bills Across Fair Grove, Missouri
In Fair Grove, 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 Fair Grove is $42,184. Property taxes are determined by applying the local tax rate to this assessed value. In Taney County, the median property tax bill is notably consistent, with the 25th, 75th, and 90th percentiles all at $197. This uniformity suggests a stable tax environment for homeowners. Several factors influence the tax bill, including the property's assessed value, the local tax rate, and any applicable exemptions or deductions. Homeowners in Fair Grove benefit from relatively low property taxes compared to the national median property tax rate of 0.99%. This lower tax burden can make homeownership more affordable and financially manageable. Consequently, understanding how these factors interplay is crucial for homeowners to anticipate their annual tax obligations and plan their finances accordingly.
Average Fair Grove Tax Bill
$197
Average Taney County Tax Bill
$449
Average Missouri Tax Bill
$1,606
Average United States Tax Bill
$2,690
Property Tax Bills Across Fair Grove, Missouri
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 65648 | $197 | $197 | $197 | $197 | $197 |
Source: Ownwell