Florida vs Missouri
Property Tax Comparison: Florida vs. Missouri
According to the U.S. Census Bureau's 2023 American Community Survey (5‑year estimates), the two states differ modestly in how much homeowners pay in property taxes. Both states have median home values below the national average, but the effective tax rates and resulting annual tax bills are not identical. The table below presents the key metrics used in the comparison.
Side‑by‑side metrics
| Metric | Florida | Missouri |
|---|---|---|
| Effective property tax rate | 0.79 % | 0.88 % |
| Median home value | $325,000 | $215,600 |
| Median annual property tax | $2,555 | $1,887 |
| Property tax on a $250,000 home | $1,966 | $2,188 |
| Property tax on a $500,000 home | $3,931 | $4,376 |
| Median household income | $71,711 | $68,920 |
Sources: “Effective property tax rate,” “Median home value,” “Median annual property tax,” and “Median household income” are all from the U.S. Census Bureau’s 2023 ACS 5‑year estimates.
Which state has the lower tax burden?
- Winner (lower effective tax rate): Florida (0.79 % vs. 0.88 %).
- Rate difference: 0.09 percentage points, which is a 10.17 % relative difference.
- Annual tax difference on a $250,000 home: $222 less in Florida.
- Annual tax difference on a $500,000 home: $445 less in Florida.
Why Florida wins: The effective property tax rate is the primary factor that determines the amount of tax paid relative to home value. Because Florida’s rate is 0.09 % lower, the dollar‑amount tax owed on identical property values is correspondingly lower, as shown in the $250k and $500k examples.
Who is likely to benefit most from this comparison?
| Audience | Relevance of the data |
|---|---|
| Current homeowners | Understanding how property tax obligations would change if they relocate between the two states. |
| Prospective homebuyers | Assessing the long‑term cost of owning a home in each market, especially when budgeting for taxes. |
| Retirees | Evaluating overall affordability, since property taxes can be a significant component of fixed‑income budgets. |
| Real‑estate investors | Comparing tax efficiency of investment properties across states. |
| Policy analysts | Using the effective tax rate and median values to study state‑level tax policy impacts. |
The comparison is factual and does not include subjective assessments of overall cost of living, climate, or quality of life, which may also influence decision‑making.
Related pages
Based on the most recent ACS estimates, the figures above reflect median values and average rates; individual tax bills can vary depending on local millage rates, exemptions, and specific property assessments.
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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.