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Old 01-02-2008, 09:05 PM
 
Location: Utopia
1,999 posts, read 10,565,235 times
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I am totally confused about your tax rates.
1. I am a retiree living on dividends and interest. I have no pension. Will I be taxed on my earnings only on these? Does Missouri tax capital gains?
2. What are property tax rates? The State taxes you on 19% of the value of your house?
Someone please help!
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Old 02-14-2009, 09:42 AM
 
1 posts, read 7,088 times
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What are the property taxes for parkway school district and rockwood school district .
Missouri school districts (st,louis metro area)
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Old 02-14-2009, 12:20 PM
 
Location: SW MO
23,593 posts, read 37,469,913 times
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Quote:
Originally Posted by TootsieWootsie View Post
I am totally confused about your tax rates.
1. I am a retiree living on dividends and interest. I have no pension. Will I be taxed on my earnings only on these? Does Missouri tax capital gains?
2. What are property tax rates? The State taxes you on 19% of the value of your house?
Someone please help!
This might help. It the website for the MO Department of Revenues which sets the state taxes. Missouri Department of Revenue

Taxing you on 19% of your home value does not mean taxing you 19% of the value of the house. It means that percent is taxed at a rate set by the state and county if I'm not mistaken. Overall, property taxes appear to be fairly low compared to other places.

Best bet is to see a tax person.
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Old 02-17-2009, 09:00 AM
 
Location: Branson-Hollister-Kimberling City-Blue Eye-Ridgedale
1,814 posts, read 5,381,467 times
Reputation: 1589
Cool Property taxes...

Quote:
Originally Posted by TootsieWootsie View Post
I am totally confused about your tax rates.
1. I am a retiree living on dividends and interest. I have no pension. Will I be taxed on my earnings only on these? Does Missouri tax capital gains?
2. What are property tax rates? The State taxes you on 19% of the value of your house?
Someone please help!
Here's what I know about property tax rates: It goes county by county. Each county has varying tax rates depending on whether you're in the city limits (and which city limits) or not...and that tax rate varies each year. They do start with 19% of the assessed value to determine your tax. For instance, I recently called them to estimate the property tax on a new construction home in Ridgedale (not in the city limits) which is Taney County.
This new home is valued at $189,500. That makes the assessed value (19%, remember?) $36,005. The tax rate is 4.8568 (2008 numbers) so the annual tax would be approximately $1,748.00.

I also know that most of the counties in Missouri do not report the sales prices on re-sale homes. That means that the taxes are not automatically re-assessed each time a home sells. It's a complicated process, but the non-reporting thing has helped to keep taxes low in those counties. You will see a big difference in the property taxes here vs. those in St. Louis and Kansas City.

If you want to estimate the taxes on a new home, you can call the assessor's office in that county, tell them approximately where the house is, and they can give you the tax rate.

As far as capital gains, any CPA should be able to answer that for you!

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