Missouri

Does Missouri tax home sales or mortgages?

No on both counts. Missouri is one of the few states with no real estate transfer tax and no mortgage tax, so you owe nothing on the sale price or the loan amount at closing. Buyers and sellers pay only modest county recording fees, often around $24 for the first page, which makes Missouri closings unusually light on government taxes.

Missouri's 2010 Constitutional Amendment 3 prohibits any new state or local tax on the sale or transfer of real estate, so this is unlikely to change without another constitutional vote.

Source: Missouri Department of Revenue

How is my Missouri property tax figured?

Missouri taxes residential real estate on 19 percent of its market value, the assessment ratio, and then applies local levies set by counties, cities, and school districts. Values are reassessed in odd-numbered years. Because the taxable value is only a fraction of market value, comparing raw rates across states can be misleading; what matters is the local levy where you buy.

Source: State Tax Commission of Missouri

Can Missouri seniors freeze their property taxes?

Increasingly yes, but it depends on your county. Senate Bill 190 of 2023, clarified by SB 756 in 2024, lets counties freeze property tax on a senior's owner-occupied primary residence at a base-year level, generally for owners 62 or older. It is a county opt-in program, so adoption, start dates, and rules vary; most populous counties have adopted it, but confirm with your county collector or assessor.

The freeze is authorized by Missouri Revised Statutes Section 137.1050 and is implemented by county ordinance, with annual reapplication usually required.

Source: Missouri Revised Statutes (RSMo 137.1050)

What property-tax relief is there for Missouri seniors and disabled owners?

The Missouri Property Tax Credit, or circuit breaker, refunds part of the real estate tax (or rent) paid by owners 65 or older or who are 100 percent disabled, up to $1,100 for owners and $750 for renters, subject to income limits. It is claimed on your Missouri income tax return and is separate from the county senior freeze, so an eligible owner may use both.

Source: Missouri Department of Revenue

Is there a Missouri state veteran home loan or veteran property-tax exemption?

Not a standalone state mortgage, and unlike some states Missouri has no statewide property-tax exemption specifically for disabled veterans. Missouri veterans typically use a federal VA loan, which can require no down payment for eligible borrowers, can use MHDC's First Place program without meeting the first-time-buyer rule, and a 100 percent disabled veteran can claim the Missouri Property Tax Credit. Some counties offer additional local help.

Source: Missouri Housing Development Commission VA loans →

When do I need a jumbo loan in Missouri?

It depends on the price and your county's conforming limit. Most of Missouri stays within the baseline limit given its moderate prices, so jumbo financing is uncommon. It shows up mainly in higher-end pockets of the Kansas City and St. Louis metros, such as Clayton, Ladue, and parts of the Country Club District, when the loan amount exceeds the local ceiling.

Source: Federal Housing Finance Agency (FHFA) Jumbo loans →

What are the most affordable places to buy a home in Missouri?

Springfield, Joplin, much of the Ozarks, and many Kansas City and St. Louis suburbs tend to have the gentlest price-to-income ratios. Columbia, parts of Kansas City, and a few affluent St. Louis suburbs such as Clayton and Ladue run higher. Outer suburbs of the two big metros offer a middle ground that pairs well with FHA limits and MHDC assistance.

Source: U.S. Census Bureau, American Community Survey

What does it actually cost to own a home in Missouri?

Your ongoing cost combines property taxes, figured on 19 percent of value with levies that vary by district and softened by the circuit breaker and senior freeze, plus homeowners insurance, which can run higher in parts of the state exposed to tornadoes and hail. Missouri levies a state income tax. At closing there is no transfer or mortgage tax, only recording fees, so upfront costs are low.

Source: Missouri Department of Revenue

Which Missouri markets are best for first-time buyers?

First-time buyers often have the most room in Springfield, Joplin, and the outer suburbs of Kansas City and St. Louis, where lower prices line up with FHA limits and MHDC assistance such as First Place, which can forgive 4 percent of the loan over ten years. Running the numbers on price, taxes, and insurance early helps you target a market where the monthly cost comfortably works for your budget.

Source: Missouri Housing Development Commission Affordability calculator →

Does Missouri have a real estate transfer tax?

No. Missouri is one of the few states with no real estate transfer tax, and its 2010 constitutional amendment prohibits a new one. Buyers and sellers pay only modest county recording fees when the deed is recorded, so there is no percentage-of-price tax on the sale itself.

Does Missouri tax my mortgage?

No. Missouri has no mortgage tax, so you owe nothing on the loan amount when the mortgage is recorded. Combined with the lack of a transfer tax, that makes Missouri closings unusually light on government taxes, leaving recording fees as the main charge at the county level.

How is property tax calculated in Missouri?

Missouri taxes residential real estate on 19 percent of its market value, then applies local levies set by counties, cities, and school districts. Values are reassessed in odd-numbered years. Because the taxable value is a fraction of market value, the local levy where you buy matters more than any statewide figure.

Can seniors freeze their property taxes in Missouri?

In many counties, yes. Senate Bill 190 of 2023, clarified by SB 756 in 2024, lets counties freeze property tax on a senior's primary residence at a base-year level, generally for owners 62 or older. It is a county opt-in program with varying rules and application windows, so confirm adoption and requirements with your county collector or assessor.

What is the Missouri Property Tax Credit (circuit breaker)?

It is a state income tax credit that refunds part of the real estate tax or rent paid by owners 65 or older or who are 100 percent disabled, up to $1,100 for owners and $750 for renters, subject to income limits. You claim it on your Missouri return, and it is separate from the county senior freeze.

Do disabled veterans get a property-tax exemption in Missouri?

Missouri does not have a statewide property-tax exemption specifically for disabled veterans. A 100 percent disabled veteran can claim the Missouri Property Tax Credit without meeting the age requirement, and some counties offer additional local programs, so it is worth checking with your county assessor.

Is there a Missouri state veteran home loan?

Not a standalone state mortgage. Missouri veterans typically use a federal VA loan, which can require no down payment for eligible borrowers, and qualified veterans can also use the Missouri Housing Development Commission's First Place program without meeting the first-time-buyer requirement.

What homebuyer programs does MHDC offer?

The Missouri Housing Development Commission offers the First Place program for first-time buyers and qualified veterans, with either cash assistance of 4 percent of the loan forgiven over ten years or a lower interest rate, plus the Next Step program for higher-income and repeat buyers. Programs can be funding-limited, so confirm current availability.

What credit score do I need to buy a house in Missouri?

It depends on the program. Conventional loans typically expect higher scores, while FHA may allow lower scores with other compensating factors, and MHDC programs generally look for around 640. There is no single statewide number, and your full financial profile matters more than any one threshold.

What are the most affordable places to buy a home in Missouri?

Springfield, Joplin, much of the Ozarks, and many Kansas City and St. Louis suburbs generally offer the gentlest price-to-income ratios, while Columbia and a few affluent St. Louis suburbs run higher. The lower-cost metros often line up well with FHA limits and MHDC assistance for first-time buyers.