Flemington, Polk County, Missouri Property Taxes
The median property tax rate in Flemington, MO is 0.79%, which is lower than both the national median of 0.99% and Missouri's state median of 1.20%. With a median home value of $19,386 in Flemington, the typical annual property tax bill amounts to $145, significantly below the national median of $2,690. Property taxes in Flemington are calculated based on the tax assessed value, often lower than the market value due to exemptions such as those for primary residences and agricultural properties. Understanding Flemington'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 Flemington 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
Flemington, Polk County, Missouri Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.79%
Estimate Property Tax Bill
$153
$142
Ownwell’s Flemington Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Flemington with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Flemington 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 Flemington, Polk County, Missouri
Property taxes in Flemington, Missouri, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Flemington is 0.79%, which is lower than the U.S. national median of 0.99%. Local government entities within Flemington set these rates annually, and they can vary significantly across different neighborhoods. Each year, Flemington 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 Flemington's effective property tax rate to other areas and the national median. For comparison, the highest and lowest median property tax rates in the region are both 0.79%, found in the zip code 65650. Understanding how these areas compare with Flemington 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 Flemington Tax Rate
0.79%
Average Polk County Tax Rate
0.91%
Average Missouri Tax Rate
1.20%
Average United States Tax Rate
0.99%
Property Tax Rates Across Flemington, Polk County, Missouri
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 65650 | 0.69% | 0.79% | 0.79% | 0.80% | 0.89% |
Source: Ownwell
Property Tax Assessment Values Across Flemington, Polk County, Missouri
In Flemington, 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 Flemington, 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 Flemington helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The zip code 65650 has the highest and lowest median tax bill, both at $145, which provides a useful benchmark for homeowners in the area.
Property Tax Assessment Values Across Flemington, Polk County, Missouri
Source: Ownwell
$19,386
$60,099
$100,811
Average Flemington Assessed Value
$19,386
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 Flemington, Polk County, Missouri
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 65650 | $1,316 | $6,132 | $19,386 | $51,868 | $85,636 |
Source: Ownwell
Property Tax Bills Across Flemington, Polk County, Missouri
In Flemington, Polk County, MO, property tax bills are calculated based on the assessed value of a home and the local tax rate. The assessed value is a percentage of the property's market value, which is determined by the county assessor. This assessed value is then multiplied by the local tax rate to determine the annual property tax bill. For instance, with a median home price of $19,386, homeowners can expect varying tax bills depending on their property's assessed value and specific circumstances. Factors such as property improvements, neighborhood changes, and overall market trends can influence the assessed value. Homeowners in the 25th percentile might see tax bills around $51, while those in the 75th percentile could face bills up to $408. For those in the 90th percentile, tax bills might reach as high as $651. These property taxes fund essential local services such as schools, infrastructure, and emergency services, directly impacting the quality of life in Flemington.
Average Flemington Tax Bill
$145
Average Polk County Tax Bill
$421
Average Missouri Tax Bill
$1,606
Average United States Tax Bill
$2,690
Property Tax Bills Across Flemington, Polk County, Missouri
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 65650 | $10 | $51 | $145 | $408 | $651 |
Source: Ownwell