Missouri (MO) property tax rate: 0.97% | Median home: $235,000 | Median annual tax: $2,280
Missouri is a centrally located state with very affordable homes. The average effective property tax rate in Missouri is 0.97%, which is near the national average of 1.1%.
On the median Missouri home valued at $235,000, annual property taxes come to approximately $2,280 or $190/month. This is a significant part of your total housing cost and should be factored into any home purchase budget.
Pro tip: Missouri seniors over 65 may qualify for a Circuit Breaker tax credit on property taxes.
Combined with Missouri's state income tax rate of 4.95%, homeowners should consider the total tax picture. Property taxes in Missouri are manageable and in line with regional averages.
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Missouri has an average effective property tax rate of 0.97%. On the median home value of $235,000, that equals approximately $2,280 per year or $190 per month.
Property taxes in Missouri are calculated by multiplying your home assessed value by the local tax rate. The assessed value may differ from market value depending on your county assessment ratio. Exemptions like homestead exemptions can reduce your taxable value.
Missouri seniors over 65 may qualify for a Circuit Breaker tax credit on property taxes.
Missouri property taxes are near the national average of 1.1%. This means property tax costs are predictable and in line with most states.
Property tax due dates vary by county in Missouri. Most counties offer semi-annual payments. Check with your county tax assessor office for specific due dates. Late payments typically incur penalties of 1-2% per month.