Missouri Property Tax Calculator

Our Missouri property tax calculator calculates the taxes you'll pay after buying a property. Make better property purchase decisions.

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Missouri Property Tax

Property tax rates in Missouri vary significantly by county and municipality, but the state generally has lower property tax rates compared to the national average.

While urban areas like St. Louis and Kansas City may have higher property tax rates due to local levies, Missouri's overall effective property tax rate tends to be more favorable than that of many other states.

The state's property tax system involves assessments based on a percentage of market value, and the assessment ratios for residential properties are typically 19% of the market value. However, local governments may levy additional taxes for schools, public services, and other needs, which can lead to variation in the total tax burden.

The average effective property tax rate in Missouri is generally around 0.97%, which is significantly lower than the national average of approximately 1.10%. However, some counties and municipalities, especially those near major metropolitan areas, may have higher rates.

Property taxes in Missouri are collected on a local level, with payment due to the county collector. These taxes fund services like public schools, infrastructure, and local government operations.

In general, Missouri homeowners enjoy lower property tax payments compared to the national median, which helps make the state relatively affordable in terms of property taxes.

Missouri Property Tax Law

Property taxes in Missouri are based on the assessed value of the property, which is determined by the county assessor. The assessed value is a percentage of the property's market value as determined by the assessor's office, with residential properties typically assessed at 19% of their market value.

When you purchase a home in Missouri, the county assessor will assign an assessed value based on the fair market value of the property. In general, the assessed value cannot increase by more than 15% from one year to the next, unless there are significant improvements made to the property.

Failing to pay your property taxes in Missouri can lead to penalties and interest being added to the outstanding amount, which will increase the overall liability.

If property taxes remain unpaid for 3 years, the county has the authority to sell a tax lien on the property in a public auction to recover the unpaid taxes.

Once the tax lien is sold, the purchaser can initiate a process to acquire the property title if the lien is not redeemed within 1 year from the date of sale.

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property tax calculator missouri

Frequently Asked Questions

Got a question? We've got answers.

Property taxes can be impacted by factors such as property value, location, property type, tax exemptions and deductions, local budgets, and economic conditions. These factors can interact and vary significantly from one location to another, leading to differences in property tax rates.

Need professional help? Talk to an tax accountant today

How Does Our Calculator Work?

A calculator helps you figure out how much you’ll need to pay in property taxes for a specific house or property in a certain place.

You provide details about the property, like where it is and how much it costs. Then, the calculator uses local tax rules to estimate how much you will owe each year in property taxes.

It helps you make smarter decisions about buying or owning property by showing you the expected tax costs. So, it is like a handy guide to understand property taxes better and plan your budget.

Let's say you're interested in a condominium located in Manhattan with a purchase price of $1 million.

You click on the corresponding tax calculator, enter the purchase price, and other relevant information into the calculator. For New York City, you would specify (Manhattan), and it will automatically retrieve the tax rates applicable to that location.

The calculator then takes the assessed value of the property. Let's assume the assessed value is 10% of the purchase price, which would be $100,000. Next, it factors in the property tax rates for New York City.

In NYC, you have various taxing authorities, such as the city, county, and school district. The calculator combines these rates and applies them to the assessed value to estimate your annual property tax bill.

The result might show that you can expect to pay, for instance, $25,000 in property taxes per year. This estimate helps you understand the property tax burden associated with your potential condo purchase in New York City and enables you to make a more informed decision about your investment.