Property OwnershipProperty_taxHARD
Missouri property is assessed at what percentage of market value?
Correct Answer
B) 19% for residential, 32% for commercial, 12% for agricultural
Missouri uses different assessment ratios: 19% of market value for residential, 32% for commercial/industrial, and 12% for agricultural property. The tax levy is then applied to the assessed value.
Answer Options
A
100%B
19% for residential, 32% for commercial, 12% for agriculturalC
50% for all propertyD
25% for all propertyWhy This Is the Correct Answer
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Why the Other Options Are Wrong
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Related Topics & Key Terms
Related Topics:
mill levy calculationMissouri State Tax Commissionbiennial reassessmenttrue value in moneyad valorem taxation
Key Terms:
assessment ratioMissouri property taxresidential 19%commercial 32%agricultural 12%assessed value
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