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Fulton, Missouri

Fulton (population 13,000) is an inviting town in rolling east central Missouri. It started out in 1808 and has grown by 2% in the last decade. Budget Travel recently named it one of the "10 Coolest Small Towns in America."

Two schools, Westminster College (760 students) and William Woods University (2,200 students), give Fulton an academic vibe. Other institutions, including the Missouri School for the Deaf, the Fulton State Hospital and a minimum security state prison, add to the local economy.

The downtown Brick District has red brick streets and nearly 60 buildings that are listed on the National Register of Historic Places. Outdoor cafes, bookstores, galleries and eateries make this a fun place to spend an afternoon. Sault's drugstore has an authentic soda fountain and is a step back in time.

Westminster College's beautiful National Churchill Museum commemorates the life and times of Sir Winston Churchill. Other local highlights include the Kemper Center for the Arts, the Backer Auto World Museum, the Historical Society Museum and the Missouri Firefighters Memorial. Serenity Valley Winery has a lakeside setting and daily tastings.

Taxes

The combined sales tax rate for Fulton is 9.23%. This is the total of state, county and city sales tax rates.

Missouri's vehicle tax is 2.7% of the vehicle's value.

The property tax rate is approximately $990 per $100,000 in assessed value. The taxes on a $146,040 home are approximately $1,445. People age 65 or better may be eligible for a property tax credit of up to $1,100 for homeowners and $750 for renters.

Income from retirement accounts, including 401(k)s and IRAs, and from company pensions is taxed at a rate of up to 5.4%. Income from public pensions is eligible for a deduction of up to $37,720 each year.

Missouri does not tax Social Security benefits if the AGI is less than $85,000 (single) or less than $100,000 (married).

 

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Cost of Living

Fulton is a reasonably priced country/college town with an overall cost of living 18% less than the national average.

The town is 16% less expensive than St. Petersburg, Florida, 3% less expensive than Columbia, South Carolina and 23% less than Missoula, Montana.

The median household income is $40,275.

Real Estate

The median home value in Fulton is $146,040. This is a 5.1% increase over the previous year.

Estimates are that values will rise another 3.3% over the next year. Fulton is a neutral market (neither a buyers' or sellers' market).

The median rental price is $665 per month.

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