Fredericktown, Madison County, Missouri Property Taxes
The median property tax rate in Fredericktown, MO is 1.09%, slightly higher than the national median of 0.99%, yet lower than the Missouri state median of 1.20%. With a median home value of $52,535 in Fredericktown, the typical annual property tax bill amounts to $542, which is significantly below the national median of $2,690. Property taxes in Fredericktown are calculated based on the tax assessed value, which is often lower than the market value due to various exemptions like the primary residence and agricultural exemptions. Understanding Fredericktown'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 Fredericktown or another part of Madison County, understanding the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Fredericktown, Madison County, Missouri Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.09%
Estimate Property Tax Bill
$573
$531
Ownwell’s Fredericktown Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Fredericktown with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Fredericktown 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 Fredericktown, Madison County, Missouri
Property taxes in Fredericktown, Missouri, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Fredericktown is 1.09%, significantly higher than the U.S. national median of 0.99%. Local government entities within Fredericktown set these rates annually, and they can vary across different neighborhoods. Each year, Fredericktown 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 Fredericktown's effective property tax rate to other areas within Missouri and the national median. For comparison, the zip code 63645 has both the highest and lowest median property tax rate of 1.09%. Understanding how these areas compare with Fredericktown provides valuable insights into the varying tax landscape across Madison County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring regions.
Average Fredericktown Tax Rate
1.09%
Average Madison County Tax Rate
1.09%
Average Missouri Tax Rate
1.20%
Average United States Tax Rate
0.99%
Property Tax Rates Across Fredericktown, Madison County, Missouri
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 63645 | 0.97% | 1.06% | 1.09% | 1.20% | 1.20% |
Source: Ownwell
Property Tax Assessment Values Across Fredericktown, Madison County, Missouri
In Fredericktown, 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 Madison County Appraisal District 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 Fredericktown, 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 Fredericktown helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. In Fredericktown, the highest and lowest median tax bills are both $542.00, found in the 63645 zip code.
Property Tax Assessment Values Across Fredericktown, Madison County, Missouri
Source: Ownwell
$36,190
$50,060
$63,930
Average Fredericktown Assessed Value
$52,535
Average Madison County Assessed Value
$49,890
Average Missouri Assessed Value
$129,505
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Fredericktown, Madison County, Missouri
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 63645 | $3,414 | $20,930 | $52,535 | $95,085 | $145,856 |
Source: Ownwell
Property Tax Bills Across Fredericktown, Madison County, Missouri
In Fredericktown, Madison County, MO, property tax bills are calculated based on the assessed value of a home, which is a percentage of its market value. For homeowners, the assessed value is typically a fraction of the home's market price, which in Fredericktown has a median of $52,535. The local tax rate is applied to this assessed value to determine the annual tax bill. Factors influencing the tax bill include the property's location, size, and any applicable exemptions or deductions. Homeowners in Fredericktown can expect tax bills to vary significantly. The 25th percentile tax bill is around $216, while the 75th percentile reaches up to $930. At the higher end, the 90th percentile tax bill can be as much as $1,395. This range highlights how property taxes can impact homeowners differently based on their property's value and specific circumstances. Compared to the national median property tax rate of 0.99%, Fredericktown's tax bills reflect the local economic conditions and property values.
Average Fredericktown Tax Bill
$542
Average Madison County Tax Bill
$502
Average Missouri Tax Bill
$1,606
Average United States Tax Bill
$2,690
Property Tax Bills Across Fredericktown, Madison County, Missouri
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 63645 | $33 | $216 | $542 | $930 | $1,395 |
Source: Ownwell