valuation
Missouri Property Tax Assessment Ratios
Missouri assesses real property at a percentage of market value set by RSMo 137.115: 19% for residential property, 12% for agricultural and horticultural property, and 32% for utility, industrial, commercial, railroad and other property. The tax rate is then applied to the assessed value. Missouri has no state or local real estate transfer tax, and its constitution prohibits new ones.
- Exam tip
- Match the class to its ratio: residential 19%, agricultural 12%, commercial 32%.
- Example
- A house with a $200,000 market value has an assessed value of $200,000 x 19% = $38,000.
Related terms & state variants
Sources
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Last verified: 2026-10-23