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Tuesday, October 15, 2024

Property tax revenue down 90.6% 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 $3 million in property taxes during the second quarter, a 90.6% decrease from the first quarter, according to the U.S. Census Bureau's Quarterly Summary of State and Local Taxes.

Property tax revenue for the first quarter was $32 million.

Overall, Missouri collected $5.2 billion in combined tax revenues in the second quarter, an increase from the $4.5 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 Missouri Tax Collections
Type of TaxAmount (millions)
Property Taxes$3
Sales and Gross Receipts Taxes$1,923
Income Taxes$3,091
License Taxes$189
Other Taxes$5
Source: U.S. Census Bureau

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