Fair Play, Cedar County, Missouri Property Taxes
The median property tax rate in Fair Play, MO is 0.90%, which is lower than both the national median of 0.99% and Missouri's state median of 1.20%. With a median home value of $35,970 in Fair Play, the typical annual property tax bill is $324, well below the national median of $2,690. Property taxes in Fair Play are calculated based on the assessed value, often lower than the market value due to exemptions like the primary residence and agricultural exemptions. Understanding Fair Play'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 Play or another part of Cedar County, understanding the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Fair Play, Cedar County, Missouri Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.9%
Estimate Property Tax Bill
$324
$300
Ownwell’s Fair Play Property Tax Bill Calculator assists homeowners, real estate investors, and potential buyers in estimating their annual property taxes in Fair Play with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Fair Play 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 Play, Cedar County, Missouri
Property taxes in Fair Play, Missouri, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Fair Play is 0.90%, which is lower than the U.S. national median of 0.99%. Local government entities within Fair Play set these rates annually, and they can vary significantly across different neighborhoods. Each year, Fair Play 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 Play's effective property tax rate to other counties in Missouri and the national median. For comparison, the 65649 zip code has the highest median property tax rate of 0.90%, while the same zip code also has the lowest median tax rate of 0.90%. Understanding how these cities compare with Fair Play provides valuable insights into the varying tax landscape across Cedar County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Fair Play Tax Rate
0.90%
Average Cedar County Tax Rate
0.92%
Average Missouri Tax Rate
1.20%
Average United States Tax Rate
0.99%
Property Tax Rates Across Fair Play, Cedar County, Missouri
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 65649 | 0.75% | 0.87% | 0.90% | 0.90% | 0.90% |
Source: Ownwell
Property Tax Assessment Values Across Fair Play, Cedar County, Missouri
In Fair Play, 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 Cedar 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 Fair Play, 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 Play 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 $324.00 in the 65649 zip code, while the lowest is also $324.00 in the same zip code.
Property Tax Assessment Values Across Fair Play, Cedar County, Missouri
Source: Ownwell
$31,670
$40,133
$48,595
Average Fair Play Assessed Value
$35,970
Average Cedar County Assessed Value
$37,145
Average Missouri Assessed Value
$129,505
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Fair Play, Cedar County, Missouri
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 65649 | $19,828 | $28,030 | $35,970 | $67,910 | $125,050 |
Source: Ownwell
Property Tax Bills Across Fair Play, Cedar County, Missouri
In Fair Play, property tax bills are calculated based on the assessed value of a home, which is a percentage of its market value. For instance, if a property has an assessed value of $35,970, the tax rate for Cedar County is applied to determine the tax bill. Factors such as the home's location, size, and any improvements made can influence its assessed value. Homeowners in Fair Play experience varying property tax bills. For example, the 25th percentile tax bill is around $253, while the 75th percentile reaches about $609. For those in the 90th percentile, the tax bill can go up to $962. The median property tax rate in Cedar County is relatively low compared to the national median of 0.99%, with the highest and lowest median tax bills both being $324 in the zip code 65649. These property taxes significantly impact homeowners by contributing to local services such as schools, infrastructure, and public safety, thereby enhancing the community's overall quality of life.
Average Fair Play Tax Bill
$324
Average Cedar County Tax Bill
$344
Average Missouri Tax Bill
$1,606
Average United States Tax Bill
$2,690
Property Tax Bills Across Fair Play, Cedar County, Missouri
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 65649 | $179 | $253 | $324 | $609 | $962 |
Source: Ownwell