Missouri Property Tax

Effective Property Tax Rate

87.52%

Median Annual Tax

$1,887

Median Home Value

$215,600

Missouri Property Tax Overview

Keywords: Missouri property tax, property tax in Missouri, Missouri property tax rate

Key Statistics (2026)

Metric	Value
Median home value (statewide)	$215,600
Effective Missouri property tax rate*	0.88 %
Median annual property tax*	$1,887
National average effective property tax rate*	0.97 %
Missouri’s rank (effective rate)	30th of 52 states/territories (lower rates = higher rank)

*Based on the U.S. Census Bureau’s American Community Survey (ACS) 5‑year estimates for 2023.

Example Property Tax Bills

Assessed Home Value	Approximate Annual Property Tax*
$250,000	$2,188
$500,000	$4,376

*Calculated by applying the statewide effective tax rate of 0.88 % to the home value. Actual bills may differ because local jurisdictions levy additional rates and exemptions.

How Property Tax in Missouri Is Calculated

Assessed Value – Local assessors determine a property’s market value; the median statewide market value is $215,600.
Assessment Ratio – Most Missouri counties assess property at 100 % of market value, though some use lower ratios.
Tax Rate (Millage) – Counties, cities, school districts, and special districts set millage rates (dollars per $1,000 of assessed value).
Effective Tax Rate – The effective rate aggregates all local millages and is expressed as a percentage of market value (0.88 % for the state).

Variation by County

Missouri has 114 counties and one independent city (St. Louis).
Each jurisdiction sets its own millage rates, so the Missouri property tax rate can differ substantially from one county to another.
For example, in 2023 the effective tax rate ranged from about 0.65 % in some rural counties to 1.20 % in select urban districts.

Comparison to the National Average

The national average effective property tax rate (based on the same ACS data) is 0.97 %.
Missouri’s rate of 0.88 % is 9.56 % lower than the national average.
Consequently, Missouri ranks 30th (out of 52) for having one of the lower effective property tax rates in the United States.

Considerations for Retirees and Landlords

Group	Relevant Facts (property tax in Missouri)
Retirees	• Lower effective tax rate reduces annual housing costs.<br>• Some counties offer homestead exemptions or senior property tax relief programs that can further decrease liability.<br>• Property tax burden is generally below the national average, which may affect overall cost of living calculations.
Landlords	• Property tax is assessed on the market value of the rental property, not on rental income.<br>• Landlords can deduct property taxes as an expense on federal income tax returns.<br>• Variation in county rates means that the tax expense for comparable rental units can differ across the state.

These points are factual observations derived from the tax structure and do not constitute promotional advice.

FAQ

Q1: How is the effective Missouri property tax rate determined?
A: The effective rate is the aggregate of all local millage rates applied to the assessed (market) value of property. It is expressed as a percentage of the market value and, for 2023, equals 0.88 % according to ACS data.

Q2: Do all counties in Missouri charge the same property tax?
A: No. Each county, city, school district, and special district sets its own millage rates, leading to variations in the total property tax bill across the state.

Q3: Can Missouri homeowners reduce their property tax liability?
A: Some counties provide exemptions (e.g., homestead, senior, or disabled veteran exemptions). Eligibility and amount of relief vary by jurisdiction, so homeowners should consult their local assessor’s office for details.

All figures are drawn from the U.S. Census Bureau’s American Community Survey (ACS) (5‑year estimates, 2023) unless otherwise noted.

Neighboring States