Property Taxes (Kansas City, St. Joseph, Blue Springs: sales, assessor, mortgage)

[scotth501]

Hi, can anyone explain how Missouri calculates property taxes? I keep hearing how where I'm at in Texas has some of the highest in the country. Ours is around $3500 on a $150k house.

However, when I look at the info in Missouri, it seems about four times as high:
City of Blue Springs, MO - Official Website - How Your Tax Dollars Are Spent

$8.64 per $100 value would put a similar $150k house at almost $12,960 per year in property taxes. At effectively 8.64% tax rate with current mortgage rates under 6%, 2/3rds of my mortgage payment would go for property taxes it seems.

Surely I'm missing something.

[joetownmom]

Property taxes in MO are set by the county assessor and so the amounts vary from one county to another. A great deal depends on what sales tax issues have been passed, what school bonds are current, etc.

Your best bet would be to ask the assessor where you live what the rate may be.

[northbayeric]

Good advice about asking the assessor. The OP's figures have to be extremely erroneous, even considering that Blue Springs is in Jackson County, next to Kansas City.

Without being certain, I would think the annual property tax on a Blue Springs home assessed at $150,000 should be, at most, about $1,750. In St. Joseph and other Buchanan County locations, for example, the property tax would be closer to an even $1,000. At any rate, expect your property taxes to be markedly lower than where the OP is at in Texas. Much lower.

There is a personal property tax in Missouri, unfortunately, on things like cars and other items of high value. But the overall tax burden in Missouri is quite good compared to the other 49 states.

[ozarksboy]

Originally Posted by scotth501

Hi, can anyone explain how Missouri calculates property taxes? I keep hearing how where I'm at in Texas has some of the highest in the country. Ours is around $3500 on a $150k house.

However, when I look at the info in Missouri, it seems about four times as high:
City of Blue Springs, MO - Official Website - How Your Tax Dollars Are Spent

$8.64 per $100 value would put a similar $150k house at almost $12,960 per year in property taxes. At effectively 8.64% tax rate with current mortgage rates under 6%, 2/3rds of my mortgage payment would go for property taxes it seems.

Surely I'm missing something.

You are missing something, or rather you are confusing something.
Assessors differentiate between market value and assessed value.
You are taxed per $100 of assessed valuation, not market value.
Assessed value is much lower than market value.
Go read this: Reassessment Process by Phelps County Assessor Kevin Rasmussen.

[scotth501]

Thanks, I think that explains roughly the numbers I'm seeing then. That link for Phelps county first says the property is appraised for market value based on recent sales. This is the same as in Texas. But then a few paragraphs later say the target for residential is assessment of 19% of appraisal. I guess I just just don't understand the point of inflating tax rate to compensate for a fractional assessment, but the tax rate is clearly over 8%

Thanks again!

(opps, edited for the wrong word)

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