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Monday, December 23, 2024

Property tax revenue down 93.5% from previous quarter in Missouri

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Wayne Wallingford Director Department of Revenue at Missouri Department of Revenue | Missouri Department of Revenue

Wayne Wallingford Director Department of Revenue at Missouri Department of Revenue | Missouri Department of Revenue

Missouri collected $2 million in property taxes during the second quarter of 2023, a 93.5% decrease from the first quarter of 2023, according to the U.S. Census Bureau's Quarterly Summary of State and Local Taxes.

Property tax revenue for the first quarter of 2023 was $31 million.

Overall, Missouri collected $4.9 billion in combined tax revenues in the the second quarter of 2023, an increase from the $4.1 billion collected in the previous quarter.

In addition to detailed tax revenue data from each state, the Quarterly Summary of State and Local Government Tax Revenue includes an estimate of state and local government tax revenue at a national level.

The Census Bureau cautions that it sets the tax classifications among the survey categories, and they may differ from the classifications set by the state governments.

Q2 2023 Missouri Tax Collections
Type of TaxAmount (millions)
Property Taxes$2
Sales and Gross Receipts Taxes$1,785
Income Taxes$2,985
License Taxes$168
Other Taxes$5
Source: U.S. Census Bureau

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