Falcon, Missouri Property Taxes
The median property tax rate in Falcon, MO is 1.41%, significantly higher than both the national median of 0.99% and the Missouri state median of 1.20%. With the median home value in Falcon, the typical annual property tax bill reaches $102, far below the national median of $2,690. Property taxes in Falcon 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 Falcon'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 Falcon or another part of Morgan County, understanding the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Falcon, Missouri Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.41%
Estimate Property Tax Bill
$102
Ownwell’s Falcon Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Falcon with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Falcon 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 Falcon, Missouri
Property taxes in Falcon, Missouri, play a crucial role in financing essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Falcon is 1.41%, significantly higher than the U.S. national median of 0.99%. Local government entities within Falcon set these rates annually, and they can vary significantly across different neighborhoods. Each year, Falcon 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 Falcon's effective property tax rate to other counties in Missouri and the national median. For comparison, the 65470 zip code has the highest median property tax rate of 1.41%, while the same zip code also has the lowest median tax rate of 1.41%. Understanding how these areas compare with Falcon 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 Falcon Tax Rate
1.41%
Average Morgan County Tax Rate
0.87%
Average Missouri Tax Rate
1.20%
Average United States Tax Rate
0.99%
Property Tax Rates Across Falcon, Missouri
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 65470 | 1.41% | 1.41% | 1.41% | 1.41% | 1.41% |
Source: Ownwell
Property Tax Assessment Values Across Falcon, Missouri
In Falcon, 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 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 Falcon, 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 Falcon helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The zip code with both the highest and lowest median tax bills is 65470, with a median tax bill of $102.
Average Falcon Assessed Value
$7,200
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 Falcon, Missouri
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 65470 | $7,200 | $7,200 | $7,200 | $7,200 | $7,200 |
Source: Ownwell
Property Tax Bills Across Falcon, Missouri
In Falcon, located in Morgan County, MO, property tax bills are calculated based on the assessed value of your home. The assessed value is a percentage of the market value, which is determined by the county assessor's office. For homeowners in Falcon, the median home price stands at $7,200. The tax rate is then applied to this assessed value to determine the annual tax bill. Factors such as property improvements, neighborhood changes, and market trends can influence the assessed value, and consequently, the tax bill. In Falcon, the tax bills are quite uniform, with the 25th, 75th, and 90th percentiles all reporting a tax bill of $102. This is significantly lower than the national median property tax rate of 0.99%, making Falcon an affordable place for homeowners when it comes to property taxes. Understanding how these factors interplay can help homeowners anticipate their tax obligations and plan accordingly.
Average Falcon Tax Bill
$102
Average Morgan County Tax Bill
$420
Average Missouri Tax Bill
$1,606
Average United States Tax Bill
$2,690
Property Tax Bills Across Falcon, Missouri
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 65470 | $102 | $102 | $102 | $102 | $102 |
Source: Ownwell