Novinger, Missouri Property Taxes
The median property tax rate in Novinger, MO is 0.93%, slightly below the national median of 0.99% and significantly lower than the Missouri state median of 1.20%. With a median home value of $39,070, the typical annual property tax bill in Novinger amounts to $387, which is considerably less than the national median of $2,690. Property taxes in Novinger are calculated based on the assessed value, which is often lower than the market value due to exemptions such as those for primary residences and agricultural properties. Understanding Novinger'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 Novinger or another part of Adair County, grasping the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Novinger, Missouri Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.93%
Estimate Property Tax Bill
$363
Ownwell’s Novinger Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Novinger with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Novinger 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 Novinger, Missouri
Property taxes in Novinger, Missouri, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Novinger is 0.93%, slightly lower than the U.S. national median of 0.99%. Local government entities within Novinger set these rates annually, and they can vary significantly across different neighborhoods. Each year, Novinger 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 Novinger's effective property tax rate to other counties in Missouri and the national median. For comparison, the zip code 63559 has a median property tax rate of 0.93%, which is consistent with Novinger's rate. Understanding how these cities compare with Novinger provides valuable insights into the varying tax landscape across Adair County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Novinger Tax Rate
0.93%
Average Adair County Tax Rate
1.16%
Average Missouri Tax Rate
1.20%
Average United States Tax Rate
0.99%
Property Tax Rates Across Novinger, Missouri
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 63559 | 0.62% | 0.72% | 0.93% | 1.02% | 1.49% |
Source: Ownwell
Property Tax Assessment Values Across Novinger, Missouri
In Novinger, 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 Adair 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 Novinger, 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. With a median home price of $39,070, tax bills can vary significantly. For example, the tax bill at the 25th percentile is $164, while at the 75th percentile, it is $870. Notably, the highest and lowest median tax bills both occur in the 63559 zip code, each at $387. 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 Novinger helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Novinger Assessed Value
$39,070
Average Adair County Assessed Value
$82,060
Average Missouri Assessed Value
$129,505
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Novinger, Missouri
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 63559 | $5,820 | $14,395 | $39,070 | $95,605 | $160,770 |
Source: Ownwell
Property Tax Bills Across Novinger, Missouri
In Novinger, Adair County, MO, property tax bills are calculated by assessing the market value of a home and applying the local tax rate. The median home price in Novinger is $39,070, significantly lower than the national median, which impacts the overall tax bill. Local authorities determine the assessed value, typically a percentage of the market value, and then apply the local tax rate to this assessed value. Several factors influence the tax bill, including property size, location, and any applicable exemptions. Homeowners in Novinger experience a wide range of property tax bills, with the 25th percentile at $164 and the 75th percentile at $870. The highest median tax bill recorded in the area is $387, which is consistent across the zip code 63559. These tax bills affect homeowners by contributing to the overall cost of homeownership. Lower property values in Novinger result in relatively lower tax bills compared to the national median property tax rate of 0.99%, providing some financial relief to local homeowners.
Average Novinger Tax Bill
$387
Average Adair County Tax Bill
$893
Average Missouri Tax Bill
$1,606
Average United States Tax Bill
$2,690
Property Tax Bills Across Novinger, Missouri
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 63559 | $68 | $164 | $387 | $870 | $1,499 |
Source: Ownwell