The Midwestern region of the United States varies broadly in terms of income, cost of living and property taxes. With nine states in the region, property owners of Missouri will find that their property tax levels are right near the median of their neighboring states.

Estimating Your Missouri Property Taxes

Property owners in Missouri receive annual tax bills for their owned property and taxes are due by Dec. 31.

Your tax bill begins with the value of your property, which is determined by a government tax assessor. In Missouri, an assessment ratio is then multiplied by your assessed value to determine the taxable assessment value. Assessment ratios can differ by tax districts and generally are lower than most comparable states. Missouri’s average assessment ratio is 19%, which means you only pay taxes on 19% of the full value of your property. Your tax bill is determined by multiplying your taxable value by a designated tax rate based on your tax district. Tax rates are expressed in $100 increments with a tax rate of 5, representing a tax of 5/100 times the taxable value.

Average Property Taxes

Missouri’s average property taxes rate is 1.02%, which ranks 26th among all 50 states. Property owners in St. Charles County can expect to pay the highest property tax rates, while those in Shannon County pay the lowest property taxes as a percentage of their home values. Highly populated cities in St. Charles County include St. Charles and St. Paul, while the most populated cities in Shannon County include Winona and Birch Tree.

For Missouri, the average effective property tax rate for the state is 0.99% with a median home value average of $103,177. The average median annual property tax payment is $864, and Platte County reportedly pays the highest median annual property tax at $2,490.

How State Taxes Compare to Neighboring States

Centrally located in the middle of the United States, Missouri’s property tax rate varies broadly from its neighboring states of Illinois, Kentucky, Tennessee, Arkansas, Oklahoma, Kansas, Nebraska and Iowa. State rankings by average property tax in the region range from 2 to 42. Illinois has the highest average property tax in the region, ranking second with an average effective property tax rate of 2.32%. Nebraska ranks seventh with an effective property tax rate of 1.84 percent. Iowa ranks 14th with an effective tax rate of 1.49%, and Kansas ranks 15th with an effective property tax rate of 1.39%. Missouri ranks 26th with an effective property tax rate of 1.02%. Oklahoma ranks 29th with an effective property tax rate of 0.86%, and Kentucky ranks 32nd with an effective property tax rate of 0.85%. Tennessee ranks 38th with an effective property tax rate of 0.75%, and Arkansas ranks 42nd with an effective property tax rate of 0.62%.

How Missouri Compares to the National Average

Missouri’s average property tax is just at the median of national property tax rate rankings by state. According to WalletHub’s 2016 survey report on national property taxes, Missouri is just below the average national effective property tax rate at 1% versus the national average of 1.13%. States reporting the highest average effective property tax rates include New Jersey at 2.29% and Illinois at 2.25%. States reporting the lowest average effective property tax rates include Hawaii at 0.28% and Alabama at 0.43%.

Property owners in Missouri can expect to pay property tax rates right near the median of levels for their region and nationally. With property tax rates varying widely in the Midwestern region and throughout the state, property owners should be aware of their annual property tax obligations.

Ohio Property Tax Guide

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