New Franklin, Howard County, Missouri Property Taxes
Median New Franklin, MO effective property tax rate: 1.49%, significantly higher than the national median of 1.02%, but lower than the Missouri state median of 1.20%.
Median New Franklin, MO home value: $67,440
Median annual New Franklin, MO tax bill: $966, $1,434 lower than the national median property tax bill of $2,400.
How are property taxes in Howard County calculated?
Property taxes in New Franklin, 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 New Franklin’s property tax system, exemptions, and reduction opportunities can lead to significant savings. Regardless of where you live in New Franklin, knowing local tax details benefits homeowners and investors.
Last Updated March 1, 2025
New Franklin, Howard County, Missouri Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Median Effective Tax Rate
1.49%
Estimate Property Tax Bill
$1,005
$932
Property Tax Rates Across New Franklin, Howard County, Missouri
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 New Franklin Tax Rate
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 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 New Franklin, Howard County, Missouri
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 65274 | 1.26% | 1.37% | 1.49% | 1.49% | 1.49% |
Source: Ownwell
Property Tax Assessment Values Across New Franklin, Howard County, Missouri
When examining property taxes in New Franklin, MO, 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 Assessor's Office 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 March. 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 New Franklin. For example, the median home price in New Franklin is $67,440, with tax bills ranging significantly across the county. Zip code 65274 has the highest median home price at $67,440.
Property Tax Assessment Values Across New Franklin, Howard County, Missouri
Source: Ownwell
$40,980
$72,455
$103,930
Median New Franklin Market Value
$67,440
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 New Franklin, Howard County, Missouri
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 65274 | $25,643 | $40,002 | $67,440 | $108,260 | $180,644 |
Source: Ownwell
Property Tax Bills Across New Franklin, Howard County, Missouri
In New Franklin, located in Howard County, MO, property tax bills are calculated based on the assessed value of a home, which is a percentage of its market value. Homeowners in this region face a median property tax bill of $966, which is significantly lower than the national median of $2,400. The property tax rate here is influenced by local government budgets and school funding needs, impacting how much each homeowner is required to pay annually.
For those in the 25th percentile, the tax bill can be as low as $592, while homeowners in the 75th percentile might pay around $1,501. At the 90th percentile, tax bills can reach up to $2,415. These variations highlight the importance of accurately assessing property values to ensure fair taxation.
Ownwell offers expert property tax appeal and exemption services, helping homeowners in New Franklin potentially reduce their tax liabilities. By challenging over-assessed property values, Ownwell can assist homeowners in achieving significant savings on their property tax bills, ensuring they only pay their fair share.
Median New Franklin Tax Bill
$966
Median Howard County Tax Bill
$882
Median Missouri Tax Bill
$1,606
Median United States Tax Bill
$2,400
Property Tax Bills Across New Franklin, Howard County, Missouri
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 65274 | $369 | $592 | $966 | $1,501 | $2,415 |
Source: Ownwell