Flemington, Missouri Property Taxes
The median property tax rate in Flemington, MO is 0.73%, significantly lower than both the national median of 0.99% and the Missouri state median of 1.20%. With the median home value in Flemington at $35,735, the typical annual property tax bill is $240, well below the national median of $2,690. Property taxes in Flemington are calculated based on the tax assessed value, which often falls below the market value due to various exemptions such as primary residence and agricultural exemptions. Understanding Flemington'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 Flemington 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
Flemington, Missouri Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.73%
Estimate Property Tax Bill
$261
Ownwell’s Flemington Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Flemington with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Flemington 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 Flemington, Missouri
Property taxes in Flemington, Missouri, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Flemington is 0.73%, which is below the U.S. national median of 0.99%. Local government entities within Flemington set these rates annually, and they can vary significantly across different neighborhoods. Each year, Flemington 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. Understanding how Flemington's effective property tax rate compares to other areas in Hickory County and the national median offers valuable insights into the varying tax landscape, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Flemington Tax Rate
0.73%
Average Hickory County Tax Rate
0.74%
Average Missouri Tax Rate
1.20%
Average United States Tax Rate
0.99%
Property Tax Rates Across Flemington, Missouri
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 65650 | 0.55% | 0.67% | 0.73% | 0.75% | 0.76% |
Source: Ownwell
Property Tax Assessment Values Across Flemington, Missouri
In Flemington, 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 Hickory 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 Flemington, 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 Flemington helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The zip code 65650 has both the highest and lowest median tax bills, valued at $240.
Average Flemington Assessed Value
$35,735
Average Hickory County Assessed Value
$25,410
Average Missouri Assessed Value
$129,505
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Flemington, Missouri
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 65650 | $11,197 | $18,158 | $35,735 | $54,908 | $116,224 |
Source: Ownwell
Property Tax Bills Across Flemington, Missouri
In Flemington, property tax bills are calculated based on the assessed value of the property. The assessed value is determined by the local assessor's office and represents a percentage of the property's market value. Various factors, such as the condition of the property, location, and market trends, are taken into account during assessment. Once the assessed value is established, the local tax rate is applied to calculate the annual property tax bill. Homeowners in Flemington can expect property tax bills to vary significantly. For example, the 25th percentile tax bill is around $119, while the 75th percentile tax bill reaches $360. Those in the 90th percentile face a tax bill of $615. Comparatively, the highest and lowest median tax bills in the area are both $240, residing in the 65650 zip code. These property taxes contribute to local services such as schools, public safety, and infrastructure, directly impacting the quality of life for residents.
Average Flemington Tax Bill
$240
Average Hickory County Tax Bill
$177
Average Missouri Tax Bill
$1,606
Average United States Tax Bill
$2,690
Property Tax Bills Across Flemington, Missouri
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 65650 | $67 | $119 | $240 | $360 | $615 |
Source: Ownwell