Fayette, Howard County, Missouri Property Taxes

Name: Property Tax Bills Across Fayette, Howard County, Missouri
Creator: Ownwell
License: https://creativecommons.org/licenses/by-nc/4.0/

Median Fayette, MO effective property tax rate: 1.31%, significantly higher than the national median of 1.02%, but lower than the Missouri state median of 1.20%.
Median Fayette, MO home value: $72,003
Median annual Fayette, MO tax bill: $920, $1,480 lower than the national median property tax bill of $2,400.

How are property taxes in Howard calculated?

Property taxes in Fayette, MO are calculated based on the tax assessed value, which is often lower than the actual market value due to property tax exemptions such as the homestead or senior exemption.

Understanding Fayette’s property tax system, exemptions, and reduction opportunities can lead to significant savings. Regardless of where you live in Fayette, knowing local tax details benefits homeowners and investors.

Last Updated March 1, 2025

Fayette, Howard County, Missouri Property Tax Bill Calculator

Property Assessed Value

$100,000

$1,500,000

$3,000,000

Median Effective Tax Rate

1.31%

Estimate Property Tax Bill

$943

$875

Ownwell’s Fayette Property Tax Bill Calculator empowers homeowners, real estate investors, and potential buyers to estimate their annual property taxes in Fayette with just two data points. By entering your property's estimated assessed value, our calculator applies Fayette’s median effective tax rate to accurately estimate your property tax bill. Note that your property's assessed value — determined by your county — reflects any exemptions you may have, ensuring a precise calculation for your property tax obligations. This insightful tool helps you understand potential tax liabilities and highlights how Ownwell can assist in reducing property taxes in Howard County. For those interested in more localized information, please scroll down to explore city-level trends!

Property Tax Rates Across Fayette, Howard County, Missouri

Local government entities are responsible for setting property tax rates, which can vary significantly within a state. Each year, counties estimate the budget needed to provide essential services and divide this by the total value of all taxable properties in their area, resulting in the property tax rate. While there are votes and laws involved in setting these rates and budgets, this annual process is quite straightforward.

In Fayette, located in Howard County, Missouri, the effective property tax rate is 1.31%. This rate is notably higher than the national median property tax rate of 1.02%. When compared to other cities in Missouri, Fayette's rate stands out as one of the highest, matching the highest median tax rate in the state. This means homeowners in Fayette may face higher property tax bills than those in many other parts of the country. Understanding these rates can help property owners make informed decisions about their investments and financial planning.

Property Tax Rates Across Fayette, Howard County, Missouri

Source: Ownwell

1.21%

1.35%

1.49%

Our median effective property tax rate (tax bill ÷ assessor's market value) accounts for exemptions and deductions, making it more accurate than the general median tax rate, which is the midpoint of statutory rates before adjustments.

Median Effective Fayette Tax Rate

1.31%

Median Effective Howard County Tax Rate

1.31%

Median Effective Missouri Tax Rate

1.20%

Median Effective United States Tax Rate

1.02%

Property Tax Rates Across Fayette, Howard County, Missouri

Zip	10th Percentile	25th Percentile	Median Tax Rate	75th Percentile	90th Percentile
65248	1.10%	1.26%	1.31%	1.31%	1.32%

Source: Ownwell

Property Tax Assessment Values Across Fayette, Howard County, Missouri

When examining property taxes in Fayette, Missouri, understanding the distinction between "market value" and "assessed value" is crucial. The market value is what a willing buyer would pay to a willing seller in an open and competitive market, often influenced by location, property condition, and economic market trends. The Howard County Appraisal District estimates the market value for tax purposes. The assessed value is the market value minus any applicable exemptions or limits determined by local laws and offerings. The tax assessed value is the figure used to calculate your property taxes or the amount multiplied by your tax rate to get your tax bill.

In Howard County, assessment notices are sent in the spring each year. They’ll typically reach your mailbox by the middle of April. Each property owner receives an assessment notice that contains both the market value and assessed value, along with an estimate of your property tax bill. By providing insights into how assessed and market values are determined, this section helps property owners navigate their tax responsibilities and understand the valuation processes affecting their property taxes in Fayette. For example, the median home price in Fayette is $72,003, with tax bills ranging significantly across the county. Zip code 65248 has the highest median home price at $72,003.

Property Tax Assessment Values Across Fayette, Howard County, Missouri

Source: Ownwell

$40,980

$72,455

$103,930

Median Fayette Market Value

$72,003

Median Howard County Market Value

$68,234

Median Missouri Market Value

$129,505

Median United States Market Value

$235,294

Property Tax Assessment Values Across Fayette, Howard County, Missouri

Zip	10th Percentile	25th Percentile	Median Home Price	75th Percentile	90th Percentile
65248	$22,203	$41,839	$72,003	$118,739	$196,918

Source: Ownwell

Property Tax Bills Across Fayette, Howard County, Missouri

In Fayette, MO, property tax bills are determined by assessing the property's value and applying the local tax rate. The assessed value is a percentage of the market value, and this figure is then multiplied by the tax rate set by local authorities. The median property tax bill in Howard County is $920, which is below the national median of $2400. Factors such as property location, size, and improvements can affect the assessed value, thus impacting the tax bill. Homeowners in Fayette may find their tax bills varying significantly, with the 25th percentile at $541 and the 90th percentile reaching $2486. This variability highlights the importance of accurate assessments. Ownwell offers services to help homeowners reduce their property tax bills by ensuring that their property's assessed value is fair and accurate. By appealing incorrect assessments and identifying potential exemptions, Ownwell can help homeowners achieve significant savings on their property taxes, ensuring they only pay what is necessary.

Property Tax Bills Across Fayette, Howard County, Missouri

Source: Ownwell

$476

$966

$1,456

Median Fayette Tax Bill

$920

Median Howard County Tax Bill

$882

Median Missouri Tax Bill

$1,606

Median United States Tax Bill

$2,400

Property Tax Bills Across Fayette, Howard County, Missouri

Zip	10th Percentile	25th Percentile	Median Tax Bill	75th Percentile	90th Percentile
65248	$291	$541	$920	$1,518	$2,486

Source: Ownwell