How Much Missouri Homeowners Pay in Property Taxes Each Year
Property taxes are the lifeblood of local governments and municipalities across the United States, accounting for over 70% of all local tax revenue. Property taxes – such as taxes levied on homeowners and landowners – go to fund schools, parks, roads, and other public works and services.
While states typically impose a minimum property tax, property taxes are mostly determined at the local level – and are often a percentage of a property or home’s overall value. Depending on where you choose to buy a home, property taxes can range from negligible amounts to nearly matching a mortgage payment.
Across Missouri, the effective annual property tax rate stands at 0.96%, the 22nd highest among states. For context, homeowners in the U.S. pay an average of 1.03% of their housing value in property taxes a year.
The effective property tax rate is calculated by taking the total amount of taxes paid on owner-occupied homes in a given area as a share of the total value of those homes. While an effective property tax rate is useful for comparing taxes at the state level, it is important to note that property tax rates can still vary considerably within a given state.
Because property taxes are typically levied as a share of a given home’s value, Americans living in places with higher home values often pay more in property taxes in dollar terms, even if the effective property tax rate is relatively low. In Missouri, the typical home is worth $168,000, lower than the national median home value of $240,500.
All data in this story is from the Tax Foundation, a tax policy research organization, and the U.S. Census Bureau’s 2019 American Community Survey.
RankStateEffective property tax rate (% of home value)Median home value ($)Median household income ($)1New Jersey2.13348,80085,7512Illinois1.97209,10069,1873New Hampshire1.89281,40077,9334Vermont1.76233,20063,0015Connecticut1.73280,70078,8336Texas1.60200,40064,0347Nebraska1.54172,70063,2298Wisconsin1.53197,20064,1689Ohio1.52157,20058,64210Iowa1.43158,90061,69111Pennsylvania1.43192,60063,46312Rhode Island1.37283,00071,16913Michigan1.31169,60059,58414New York1.30338,70072,10815Kansas1.28163,20062,08716Maine1.20200,50058,92417South Dakota1.14185,00059,53318Massachusetts1.08418,60085,84319Minnesota1.05246,70074,59320Maryland1.01332,50086,73821Alaska0.98281,20075,46322Missouri0.96168,00057,40923Oregon0.91354,60067,05824North Dakota0.88205,40064,57725Georgia0.87202,50061,98026Florida0.86245,10059,22727Washington0.84387,60078,68728Virginia0.84288,80076,45629Oklahoma0.83147,00054,44930Indiana0.81156,00057,60331Kentucky0.78151,70052,29532North Carolina0.78193,20057,34133Montana0.74253,60057,15334California0.70568,50080,44035Idaho0.65255,20060,99936Tennessee0.63191,90056,07137Mississippi0.63128,20045,79238Arkansas0.61136,20048,95239Arizona0.60255,90062,05540New Mexico0.59180,90051,94541Delaware0.59261,70070,17642Nevada0.56317,80063,27643Utah0.56330,30075,78044South Carolina0.53179,80056,22745West Virginia0.53124,60048,85046Colorado0.52394,60077,12747Wyoming0.51235,20065,00348Louisiana0.51172,10051,07349Alabama0.37154,00051,73450Hawaii0.31669,20083,102
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