Fair Play, Polk County, Missouri Property Taxes
The median property tax rate in Fair Play, MO is 0.97%, slightly below the national median of 0.99% and significantly lower than the Missouri state median of 1.20%. With a median home value of $37,086 in Fair Play, the typical annual property tax bill is $342, which is far less than the national median of $2,690. Property taxes in Fair Play are based on the tax assessed value, often below market value due to exemptions like primary residence and agricultural exemptions. Understanding Fair Play's property tax system, exploring available exemptions, and identifying opportunities for reductions can lead to substantial annual savings. Whether you're in the heart of Fair Play or another part of Polk County, understanding the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Fair Play, Polk County, Missouri Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.97%
Estimate Property Tax Bill
$360
$334
Ownwell’s Fair Play Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Fair Play with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Fair Play 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 Fair Play, Polk County, Missouri
Property taxes in Fair Play, Missouri, are crucial for funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Fair Play is 0.97%, which is slightly below the U.S. national median of 0.99%. Local government entities within Fair Play set these rates annually, and they can vary significantly across different neighborhoods. Each year, Fair Play 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 Fair Play's effective property tax rate to other areas in Missouri and the national median. For comparison, the 65649 zip code has both the highest and lowest median property tax rate of 0.97%. Understanding how these areas compare with Fair Play provides valuable insights into the varying tax landscape across Polk County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Fair Play Tax Rate
0.97%
Average Polk County Tax Rate
0.91%
Average Missouri Tax Rate
1.20%
Average United States Tax Rate
0.99%
Property Tax Rates Across Fair Play, Polk County, Missouri
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 65649 | 0.76% | 0.91% | 0.97% | 1.14% | 1.14% |
Source: Ownwell
Property Tax Assessment Values Across Fair Play, Polk County, Missouri
In Fair Play, 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 Polk 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 Fair Play, 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. For instance, the highest median tax bill in Fair Play is $342 in the 65649 zip code. 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 Fair Play helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Property Tax Assessment Values Across Fair Play, Polk County, Missouri
Source: Ownwell
$19,386
$60,099
$100,811
Average Fair Play Assessed Value
$37,086
Average Polk County Assessed Value
$49,465
Average Missouri Assessed Value
$129,505
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Fair Play, Polk County, Missouri
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 65649 | $4,553 | $13,329 | $37,086 | $65,358 | $121,977 |
Source: Ownwell
Property Tax Bills Across Fair Play, Polk County, Missouri
In Fair Play, located in Polk 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 Fair Play is $37,086. The assessed value is then multiplied by the local tax rate to determine the tax bill. Factors such as the property's location, size, and usage can influence the assessed value. Homeowners in Fair Play can expect their property tax bills to vary widely. For example, the tax bill at the 25th percentile is $137, while at the 75th percentile, it rises to $664. The 90th percentile tax bill reaches $1,174. Comparatively, the highest and lowest median tax bills in the zip code 65649 are both $342, indicating some level of consistency within that area. These property taxes contribute to local services such as schools, public safety, and infrastructure, impacting homeowners by funding essential community resources. Understanding how these factors interplay can help homeowners anticipate their financial obligations and plan accordingly.
Average Fair Play Tax Bill
$342
Average Polk County Tax Bill
$421
Average Missouri Tax Bill
$1,606
Average United States Tax Bill
$2,690
Property Tax Bills Across Fair Play, Polk County, Missouri
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 65649 | $44 | $137 | $342 | $664 | $1,174 |
Source: Ownwell