Falcon, Missouri Property Taxes
The median property tax rate in Falcon, MO is 0.62%, considerably lower than both the national median of 0.99% and the Missouri state median of 1.20%. With the median home value in Falcon at $58,500, the typical annual property tax bill reaches $357, significantly below the national median of $2,690. Property taxes in Falcon 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 Falcon'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 Falcon 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
Falcon, Missouri Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.62%
Estimate Property Tax Bill
$363
Ownwell’s Falcon Property Tax Bill Calculator empowers homeowners, real estate investors, and potential buyers to estimate their annual property taxes in Falcon with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Falcon to provide an accurate estimate of your property tax bill. This insightful tool helps you understand potential tax liabilities and make informed financial decisions. For those interested in more localized trends, additional neighborhood-level information is available below. Your property’s assessed value, determined by the county, is used for property tax calculations and includes any applicable exemptions.
Property Tax Rates Across Falcon, Missouri
Property taxes in Falcon, Missouri, are crucial for funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Falcon is 1.12%, higher than both the Missouri state median of 0.91% and the U.S. national median of 0.99%. Local government entities within Falcon set these rates annually, and they can vary significantly across different neighborhoods. Each year, Falcon 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 Falcon's effective property tax rate to other counties in Missouri and the national median. For comparison, the 65470 zip code has the highest median property tax rate of 1.12%, while the same zip code also has the lowest median tax rate of 1.12%. Understanding how these cities compare with Falcon provides valuable insights into the varying tax landscape across 29229, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Falcon Tax Rate
0.62%
Average Wright County Tax Rate
0.60%
Average Missouri Tax Rate
1.20%
Average United States Tax Rate
0.99%
Property Tax Rates Across Falcon, Missouri
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 65470 | 0.58% | 0.58% | 0.62% | 0.64% | 0.66% |
Source: Ownwell
Property Tax Assessment Values Across Falcon, Missouri
In Falcon, 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 Wright 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 Falcon, 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 Falcon helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The highest median tax bill in the area is $357 in zip code 65470, while the lowest is also $357 in the same zip code.
Average Falcon Assessed Value
$58,500
Average Wright County Assessed Value
$57,736
Average Missouri Assessed Value
$129,505
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Falcon, Missouri
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 65470 | $17,184 | $31,512 | $58,500 | $109,881 | $152,573 |
Source: Ownwell
Property Tax Bills Across Falcon, Missouri
In Falcon, Wright County, MO, property tax bills are calculated based on the assessed value of a home, which is a percentage of its market value. For instance, a home with a median market price of $58,500 will have its assessed value determined by local assessment rules. The tax rate is then applied to this assessed value to calculate the tax bill. Various factors influence the tax bill, including property location, local tax rates, and any applicable exemptions or deductions. Homeowners in Falcon can expect a range of property tax bills. The 25th percentile tax bill is around $199, while the 75th percentile reaches $649, and the 90th percentile can go up to $900. These figures highlight the variability in tax burdens based on property values and local tax policies. Compared to the national median property tax rate of 0.99%, Falcon's tax rates can be seen as relatively manageable, though they still represent a significant expense for homeowners. Understanding these factors can help residents better anticipate their annual property tax obligations.
Average Falcon Tax Bill
$357
Average Wright County Tax Bill
$358
Average Missouri Tax Bill
$1,606
Average United States Tax Bill
$2,690
Property Tax Bills Across Falcon, Missouri
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 65470 | $108 | $199 | $357 | $649 | $900 |
Source: Ownwell