Novinger, Missouri Property Taxes
The median property tax rate in Novinger, MO is 1.13%, which is notably higher than the national median of 0.99% but slightly below the Missouri state median of 1.20%. With a median home value of $60,880 in Novinger, the typical annual property tax bill amounts to $679, which is substantially lower than the national median of $2,690. Property taxes in Novinger are determined 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. Familiarizing yourself with Novinger's property tax system, exploring available exemptions, and identifying opportunities for reductions can lead to significant annual savings. Whether you're residing in the heart of Novinger 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
Novinger, Missouri Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.13%
Estimate Property Tax Bill
$688
Ownwell’s Novinger Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Novinger with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Novinger 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 Novinger, Missouri
Property taxes in Novinger, Missouri, are crucial for funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Novinger is 0.96%, which is lower than both the Missouri state median of 0.97% and the U.S. national median of 0.99%. Local government entities within Novinger set these rates annually, and they can vary significantly across different neighborhoods. Each year, Novinger 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 Novinger's effective property tax rate to other counties in Missouri and the national median. For comparison, the highest median property tax rate in the county is 0.96%, while the lowest median tax rate is also 0.96%. Understanding how these cities compare with Novinger provides valuable insights into the varying tax landscape across Adair County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Novinger Tax Rate
1.13%
Average Putnam County Tax Rate
1.20%
Average Missouri Tax Rate
1.20%
Average United States Tax Rate
0.99%
Property Tax Rates Across Novinger, Missouri
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 63559 | 0.78% | 0.92% | 1.13% | 1.20% | 1.23% |
Source: Ownwell
Property Tax Assessment Values Across Novinger, Missouri
In Novinger, 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 Putnam 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 Novinger, 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 Novinger helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The median home price is $60,880, with the highest median tax bill at $679 in the 63559 zip code and the lowest median tax bill also at $679 in the same zip code.
Average Novinger Assessed Value
$60,880
Average Putnam County Assessed Value
$54,500
Average Missouri Assessed Value
$129,505
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Novinger, Missouri
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 63559 | $10,146 | $24,710 | $60,880 | $93,460 | $156,168 |
Source: Ownwell
Property Tax Bills Across Novinger, Missouri
In Novinger, MO, property tax bills are calculated based on the assessed value of the property, which is determined by the county assessor. The assessed value is a percentage of the market value of the home. For instance, if the median home price in Novinger is $60,880, the assessed value would be a fraction of this amount. Property tax rates are applied to this assessed value to determine the tax bill. Several factors influence the final tax bill, including the property's location within the county and any applicable exemptions or deductions. Homeowners in Novinger can expect tax bills that vary significantly. For example, the tax bill at the 25th percentile is around $223, while at the 75th percentile, it rises to $1,081. The highest median tax bill in the area is $679, which is relatively low compared to the national median property tax rate of 0.99%. Such variations can impact homeowners by affecting their annual financial planning and overall housing costs.
Average Novinger Tax Bill
$679
Average Putnam County Tax Bill
$636
Average Missouri Tax Bill
$1,606
Average United States Tax Bill
$2,690
Property Tax Bills Across Novinger, Missouri
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 63559 | $84 | $223 | $679 | $1,081 | $1,680 |
Source: Ownwell