Fairview Heights, Missouri Property Taxes
The median property tax rate in Fairview Heights, MO is 0.83%, which is lower than both the national median of 0.99% and the Missouri state median of 1.20%. With the median home value in Fairview Heights at $6,100, the typical annual property tax bill amounts to $51, significantly below the national median of $2,690. Property taxes in Fairview Heights are calculated based on the tax assessed value, which often falls below the market value due to various exemptions like the primary residence and agricultural exemptions. Understanding Fairview Heights' property tax system, exploring available exemptions, and identifying opportunities for reductions can lead to significant annual savings. Whether you're in the heart of Fairview Heights 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
Fairview Heights, Missouri Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.83%
Estimate Property Tax Bill
$51
Ownwell’s Fairview Heights Property Tax Bill Calculator is a valuable tool for homeowners, real estate investors, and potential buyers to estimate their annual property taxes in Fairview Heights with just two data points. By entering your property's estimated assessed value, the calculator uses the median tax rate in Fairview Heights to provide an estimate of your property tax bill. This insightful tool helps you understand potential tax liabilities. For those interested in more detailed trends at the neighborhood level, additional localized information is available below. Your property’s assessed value is the figure assigned by the county for property tax calculations, factoring in any applicable exemptions.
Property Tax Rates Across Fairview Heights, Missouri
Property taxes in Fairview Heights, Missouri, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Fairview Heights is 0.83%, which is lower than both the Missouri state median of 0.91% and the U.S. national median of 0.99%. Local government entities within Fairview Heights set these rates annually, and they can vary significantly across different neighborhoods. Each year, Fairview Heights 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 Fairview Heights' effective property tax rate to other counties in Missouri and the national median. For comparison, the highest median property tax rate in Morgan County is 1.15%, while the lowest median tax rate is 0.62%. Understanding how these cities compare with Fairview Heights provides valuable insights into the varying tax landscape across Morgan County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Fairview Heights Tax Rate
0.83%
Average Morgan County Tax Rate
0.87%
Average Missouri Tax Rate
1.20%
Average United States Tax Rate
0.99%
Property Tax Rates Across Fairview Heights, Missouri
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|
Source: Ownwell
Property Tax Assessment Values Across Fairview Heights, Missouri
In Fairview Heights, 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 Morgan County Assessor's Office 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 Fairview Heights, 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 Fairview Heights helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Property Tax Assessment Values Across Fairview Heights, Missouri
Source: Ownwell
$1,100
$177,225
$353,350
Average Fairview Heights Assessed Value
$6,100
Average Morgan County Assessed Value
$49,350
Average Missouri Assessed Value
$129,505
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Fairview Heights, Missouri
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|
Source: Ownwell
Property Tax Bills Across Fairview Heights, Missouri
In Fairview Heights, located in Morgan County, MO, property tax bills are calculated based on the assessed value of the property. The assessed value is determined by the county assessor and is a percentage of the property's market value. For homeowners in Fairview Heights, the median home price is $6,100. The property tax rate in this region is applied to the assessed value to determine the annual tax bill. In Morgan County, the tax rates are relatively low compared to the national median property tax rate of 0.99%. For example, the 25th, 75th, and 90th percentile tax bills are all $51, indicating a consistent and predictable tax burden for homeowners. Several factors influence the assessed value, including property condition, location, and market trends. Lower tax bills can be beneficial for homeowners, making it more affordable to maintain ownership and invest in their properties. However, it also means that local services funded by property taxes may receive less revenue, potentially impacting community resources.
Average Fairview Heights Tax Bill
$51
Average Morgan County Tax Bill
$420
Average Missouri Tax Bill
$1,606
Average United States Tax Bill
$2,690
Property Tax Bills Across Fairview Heights, Missouri
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|
Source: Ownwell