Newtown, Mercer County, Missouri Property Taxes
The median property tax rate in Newtown, MO is 1.09%, which is higher than the national median of 0.99% but lower than the Missouri state median of 1.20%. With a median home value of $52,803 in Newtown, the typical annual property tax bill amounts to $601, falling short of the national median of $2,690. Property taxes in Newtown are determined based on the tax assessed value, which is often lower than the market value due to exemptions such as the primary residence and agricultural exemptions. Grasping Newtown's property tax system, exploring available exemptions, and pinpointing opportunities for reductions can yield substantial annual savings. Whether you're situated in the heart of Newtown or another part of Mercer County, understanding the local property tax system is advantageous for both homeowners and real estate investors.
Last Updated June 14, 2024
Newtown, Mercer County, Missouri Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.09%
Estimate Property Tax Bill
$576
$534
Ownwell’s Newtown Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Newtown with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Newtown 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 Newtown, Mercer County, Missouri
Property taxes in Newtown, Missouri, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Newtown is 1.09%, higher than both the Missouri state median and the U.S. national median of 0.99%. Local government entities within Newtown set these rates annually, and they can vary significantly across different neighborhoods. Each year, Newtown 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 Newtown's effective property tax rate to other counties in Missouri and the national median. For comparison, the 64667 zip code has the highest median property tax rate of 1.09%, while the 64667 zip code also has the lowest median tax rate of 1.09%. Understanding how these cities compare with Newtown provides valuable insights into the varying tax landscape across Mercer County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Newtown Tax Rate
1.09%
Average Mercer County Tax Rate
1.37%
Average Missouri Tax Rate
1.20%
Average United States Tax Rate
0.99%
Property Tax Rates Across Newtown, Mercer County, Missouri
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 64667 | 0.93% | 0.93% | 1.09% | 1.28% | 1.48% |
Source: Ownwell
Property Tax Assessment Values Across Newtown, Mercer County, Missouri
In Newtown, 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 Mercer 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 Newtown, 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. For example, the zip code 64667 has the highest median tax bill at $601, which is significantly lower than the national median property tax rate of 0.99%. Being aware of these valuation processes in Newtown helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Property Tax Assessment Values Across Newtown, Mercer County, Missouri
Source: Ownwell
$37,966
$45,665
$53,363
Average Newtown Assessed Value
$52,803
Average Mercer County Assessed Value
$30,001
Average Missouri Assessed Value
$129,505
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Newtown, Mercer County, Missouri
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 64667 | $15,406 | $30,947 | $52,803 | $103,097 | $927,921 |
Source: Ownwell
Property Tax Bills Across Newtown, Mercer County, Missouri
In Newtown, Mercer County, MO, property tax bills are calculated based on the assessed value of a home, which is a percentage of its market value. For instance, the median home price in Newtown is $52,803. The local tax rate is then applied to this assessed value to determine the annual tax bill. Various factors, such as the property's location within specific zip codes like 64667, can influence the final amount. Homeowners in Newtown can expect a wide range of tax bills; the 25th percentile tax bill is $324, while the 75th percentile reaches $1,456, and the 90th percentile can be as high as $8,968. These variations are significant, especially when compared to the national median property tax rate of 0.99%. High property tax bills can affect homeowners by increasing their annual expenses, making it crucial for them to understand how these taxes are calculated and what exemptions or appeals might be available to reduce their financial burden.
Average Newtown Tax Bill
$601
Average Mercer County Tax Bill
$364
Average Missouri Tax Bill
$1,606
Average United States Tax Bill
$2,690
Property Tax Bills Across Newtown, Mercer County, Missouri
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 64667 | $185 | $324 | $601 | $1,456 | $8,968 |
Source: Ownwell