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Thursday, November 21, 2024

Missouri's Q1 property tax revenue up 190.9% from previous quarter

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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 $32 million in property taxes during the first quarter, a 190.9% increase over the fourth quarter of 2023, according to the U.S. Census Bureau's Quarterly Summary of State and Local Taxes.

Property tax revenue for the fourth quarter of 2023 was $11 million.

Overall, Missouri collected $4.5 billion in combined tax revenues in the first quarter, 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.

Q1 Missouri Tax Collections
Type of TaxAmount (millions)
Property Taxes$32
Sales and Gross Receipts Taxes$1,805
Income Taxes$2,436
License Taxes$181
Other Taxes$11
Source: U.S. Census Bureau

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