Connecticut vs Missouri
Property Tax Comparison: Connecticut vs. Missouri
Intro
Both Connecticut and Missouri levy property taxes that fund local services such as schools, police, and infrastructure. According to the U.S. Census Bureau's 2023 American Community Survey (5‑year estimates), the two states differ markedly in effective tax rates, median home values, and the resulting annual tax bills. The following sections present a side‑by‑side view of the key metrics, identify which state has the lower tax burden, and describe the types of residents for whom this information is most relevant.
Side‑by‑Side Metrics
| Metric | Connecticut | Missouri |
|---|---|---|
| Effective property tax rate | 1.92 % | 0.88 % |
| Median home value | $343,200 | $215,600 |
| Median annual property tax | $6,575 | $1,887 |
| Property tax on a $250,000 home | $4,789 | $2,188 |
| Property tax on a $500,000 home | $9,579 | $4,376 |
| Median household income | $93,760 | $68,920 |
Sources: Connecticut property tax and Missouri property tax. All figures are from the U.S. Census Bureau's 2023 American Community Survey (5‑year estimates).
Which State Has the Lower Property Tax Burden?
Winner (lower tax rate): Missouri
- Tax rate difference: 1.04 % (Missouri’s rate is 54.32 % lower than Connecticut’s).
- Annual tax difference on a $250,000 home: $2,601 lower in Missouri.
- Annual tax difference on a $500,000 home: $5,203 lower in Missouri.
Because the effective property tax rate is the primary driver of the tax bill, Missouri’s rate of 0.88 % produces substantially lower annual taxes across comparable home values.
Who May Benefit Most From This Comparison?
| Audience | Relevance of the Data |
|---|---|
| Current homeowners | Understanding how much of their housing cost is attributable to property tax and how that cost would change if they moved between the two states. |
| Prospective homebuyers | Evaluating the total cost of ownership, especially when budgeting for homes near the $250k–$500k price range. |
| Retirees | Comparing tax burdens alongside median household incomes to gauge disposable income after housing expenses. |
| Real‑estate investors | Assessing the impact of property taxes on cash flow and return on investment for rental properties. |
| Policy analysts | Using the rate and revenue figures to compare fiscal structures of state and local governments. |
The data are factual and do not constitute financial advice; individuals should consider additional factors such as local tax exemptions, assessment practices, and state income taxes when making relocation or investment decisions.
Summary
Based on the most recent ACS estimates, Missouri’s effective property tax rate (0.88 %) is less than half of Connecticut’s rate (1.92 %). This lower rate translates into significantly smaller annual tax payments for homes valued at $250,000 and $500,000. The comparison is most useful for homeowners, prospective buyers, retirees, and investors who need to factor property tax costs into their overall financial planning.
Explore More Comparisons
Discover how property taxes compare across all states in our comprehensive comparison guide.
Data Source
All figures are drawn from the U.S. Census Bureau's 2023 American Community Survey (5‑year estimates). This comprehensive dataset provides reliable, standardized property tax information across all states.