Goodman, Newton County, Missouri Property Taxes
The median property tax rate in Goodman, MO is 1.07%, which is higher than the national median of 0.99% but lower than Missouri's state median of 1.20%. With a median home value of $44,800 in Goodman, the typical annual property tax bill amounts to $491, well below the national median of $2,690. Property taxes in Goodman are calculated based on the tax assessed value, which is often less than the market value due to various exemptions, such as primary residence and agricultural exemptions. Understanding Goodman's property tax system, exploring available exemptions, and identifying opportunities for reductions can result in significant annual savings. Whether you're in the heart of Goodman or another part of Newton County, comprehending the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Goodman, Newton County, Missouri Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.07%
Estimate Property Tax Bill
$479
$445
Ownwell’s Goodman Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Goodman with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Goodman 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 Goodman, Newton County, Missouri
Property taxes in Goodman, Missouri, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Goodman is 1.07%, higher than both the Missouri state median and the U.S. national median of 0.99%. Local government entities within Goodman set these rates annually, and they can vary significantly across different neighborhoods. Each year, Goodman 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 Goodman's effective property tax rate to other counties in Missouri and the national median. For comparison, the zip code 64843 has the highest median property tax rate of 1.07%, while the same zip code also has the lowest median tax rate of 1.07%. Understanding how these cities compare with Goodman provides valuable insights into the varying tax landscape across Newton County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Goodman Tax Rate
1.07%
Average Newton County Tax Rate
1.09%
Average Missouri Tax Rate
1.20%
Average United States Tax Rate
0.99%
Property Tax Rates Across Goodman, Newton County, Missouri
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 64843 | 1.01% | 1.04% | 1.07% | 1.11% | 1.21% |
Source: Ownwell
Property Tax Assessment Values Across Goodman, Newton County, Missouri
In Goodman, 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 Newton 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 Goodman, 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 Goodman helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. Notably, the zip code 64843 has the highest and lowest median tax bill of $491.
Property Tax Assessment Values Across Goodman, Newton County, Missouri
Source: Ownwell
$30,800
$110,850
$190,900
Average Goodman Assessed Value
$44,800
Average Newton County Assessed Value
$71,800
Average Missouri Assessed Value
$129,505
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Goodman, Newton County, Missouri
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 64843 | $14,600 | $26,800 | $44,800 | $74,500 | $118,300 |
Source: Ownwell
Property Tax Bills Across Goodman, Newton County, Missouri
In Goodman, located in Newton County, MO, property tax bills are calculated based on the assessed value of a home, which is a percentage of its market value. The median home price in Goodman is $44,800, and the property tax rate is applied to this assessed value to determine the tax bill. Factors such as property size, location, and improvements can influence the assessed value, and consequently, the tax bill. Homeowners in Goodman can expect their property tax bills to vary. For example, those in the 25th percentile pay around $301, while those in the 75th percentile face bills closer to $776. The 90th percentile sees tax bills as high as $1,243. These figures highlight the range of property tax burdens within the city. Comparatively, the national median property tax rate is 0.99%, which provides a benchmark to understand local tax obligations. High property taxes can impact homeowners by increasing their overall housing costs, while lower taxes can make homeownership more affordable.
Average Goodman Tax Bill
$491
Average Newton County Tax Bill
$791
Average Missouri Tax Bill
$1,606
Average United States Tax Bill
$2,690
Property Tax Bills Across Goodman, Newton County, Missouri
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 64843 | $153 | $301 | $491 | $776 | $1,243 |
Source: Ownwell