Missouri residential property is assessed at what percentage of market value?
Question & Answer
Review the question and all answer choices
100%
A 100% assessment ratio would mean the full market value is taxed, which would result in dramatically higher property tax bills for Missouri homeowners and is not consistent with Missouri's classified assessment system.
19%
33.3%
33.3% (one-third of market value) is the assessment ratio used in some other states and is a common distractor, but it is the rate Missouri uses for agricultural property, not residential property — a critical distinction that the exam exploits.
50%
50% is not the assessment ratio for any property class in Missouri's current statutory framework and serves purely as a numerical distractor to test whether candidates have memorized the precise figure.
Why is this correct?
Under Missouri Revised Statutes Section 137.115, residential real property is assessed at 19% of its true value in money (market value) for property tax purposes. This means a home with a market value of $300,000 would have an assessed value of $57,000, and the local tax rate (mill levy) would be applied to that $57,000 figure to calculate the annual tax bill. This 19% rate is a constitutionally and statutorily established figure that Missouri real estate licensees must know precisely.
Continue Learning
Explore this topic in different formats
More Transfer of Title Videos
Continue learning with related video lessons
Ready to Ace Your Real Estate Exam?
Access 2,000+ free video lessons covering all 11 exam topics.