Tax

Have a Tax Question? Ask a Tax Expert

Ask an Expert,
Get an Answer ASAP!

Tax

How can I calculate annual real estate tax on house I am trying

Customer Question
to purchase in Chesterfield MO?...
How can I calculate annual real estate tax on house I am trying to purchase in Chesterfield MO?
Submitted: 5 years ago.Category: Tax
Ask Your Own Tax Question
Answered in 17 minutes by:
7/18/2012
Tax Professional: Robin D., Senior Tax Advisor 4 replied 5 years ago
Robin D.
Robin D., Senior Tax Advisor 4
Category: Tax
Satisfied Customers: 16,211
Experience: 15years with H & R Block. Divisional leader, Instructor
Verified

Robin D :

Hello and thank you for using Just Answer,
To calculate the tax you take the Nominal rate multiplied by the assessment ratio ( the percentage of the value of the property that is subject to tax), this gives you the effective tax rate. You multply the value of the property bt the effective rate and you have the tax.
Since you already know the effective rate just multiply the value of the property by the effective rate.

 

Even though you only asked about calculating the amount, another expert said to let you know the following:
Instead of calculating the tax amount - we may verify actuial real estate taxes based on the address - http://revenue.stlouisco.com/IAS/

 

Robin D41108.7952993403
Ask Your Own Tax Question
Tax Professional: Robin D., Senior Tax Advisor 4 replied 5 years ago
Robin D :

Hello and thank you for using Just Answer,
To calculate the tax you take the Nominal rate multiplied by the assessment ratio ( the percentage of the value of the property that is subject to tax), this gives you the effective tax rate. You multiply the value of the property by the effective rate and you have the tax.
Since you already know the effective rate just multiply the value of the property by the effective rate.

 

Even though you only asked about calculating the amount, another expert said to let you know the following:
Instead of calculating the tax amount - we may verify actual real estate taxes based on the address - http://revenue.stlouisco.com/IAS/

 

Ask Your Own Tax Question
Customer reply replied 5 years ago
Thank you so much, So does it that mean, it gives me the yearly tax I have to pay? every year I have to pay real estate tax of for instance:500k*1.3454% =6727 per year and (560.58 a month)?
Tax Professional: Robin D., Senior Tax Advisor 4 replied 5 years ago
Yes. As I advised though, you can use the link I supplied, enter the address and get the tax amount.
Robin D.
Robin D., Senior Tax Advisor 4
Category: Tax
Satisfied Customers: 16,211
Experience: 15years with H & R Block. Divisional leader, Instructor
Verified
Robin D. and 87 other Tax Specialists are ready to help you
Ask your own question now
Ask Robin D. Your Own Question
Robin D.
Robin D.
Robin D., Senior Tax Advisor 4
Category: Tax
Satisfied Customers: 16,211
16,211 Satisfied Customers
Experience: 15years with H & R Block. Divisional leader, Instructor

Robin D. is online now

A new question is answered every 9 seconds

How JustAnswer works:

  • Ask an ExpertExperts are full of valuable knowledge and are ready to help with any question. Credentials confirmed by a Fortune 500 verification firm.
  • Get a Professional AnswerVia email, text message, or notification as you wait on our site. Ask follow up questions if you need to.
  • 100% Satisfaction GuaranteeRate the answer you receive.

JustAnswer in the News:

Ask-a-doc Web sites: If you've got a quick question, you can try to get an answer from sites that say they have various specialists on hand to give quick answers... Justanswer.com.
JustAnswer.com...has seen a spike since October in legal questions from readers about layoffs, unemployment and severance.
Web sites like justanswer.com/legal
...leave nothing to chance.
Traffic on JustAnswer rose 14 percent...and had nearly 400,000 page views in 30 days...inquiries related to stress, high blood pressure, drinking and heart pain jumped 33 percent.
Tory Johnson, GMA Workplace Contributor, discusses work-from-home jobs, such as JustAnswer in which verified Experts answer people’s questions.
I will tell you that...the things you have to go through to be an Expert are quite rigorous.

What Customers are Saying:

I really was impressed with the prompt response. Your expert was not only a tax expert, but a people expert!!! Her genuine and caring attitude came across in her response...

T.G.WMatteson, IL

I WON!!! I just wanted you to know that your original answer gave me the courage and confidence to go into yesterday's audit ready to fight.

BonnieChesnee, SC

Great service. Answered my complex tax question in detail and provided a lot of additional useful information for my specific situation.

JohnMinneapolis, MN

Excellent information, very quick reply. The experts really take the time to address your questions, it is well worth the fee, for the peace of mind they can provide you with.

OrvilleHesperia, California

Wonderful service, prompt, efficient, and accurate. Couldn't have asked for more. I cannot thank you enough for your help.

Mary C.Freshfield, Liverpool, UK

This expert is wonderful. They truly know what they are talking about, and they actually care about you. They really helped put my nerves at ease. Thank you so much!!!!

AlexLos Angeles, CA

Thank you for all your help. It is nice to know that this service is here for people like myself, who need answers fast and are not sure who to consult.

GPHesperia, CA

< Previous | Next >

Meet the Experts:

Wallstreet Esq.

Wallstreet Esq.

Tax Attorney

586 satisfied customers

10 years experience

Mark D

Mark D

Enrolled Agent

1,300 satisfied customers

MBA, EA, Specializing in Business and Individual Tax Returns and Issues

Richard

Richard

Tax Attorney

4,338 satisfied customers

29 years of experience as a tax, real estate, and business attorney.

Robin D.

Robin D.

Senior Tax Advisor 4

16,211 satisfied customers

15years with H & R Block. Divisional leader, Instructor

Megan C

Megan C

Certified Public Accountant (CPA)

8,651 satisfied customers

Licensed CPA, CFE, CMA, CGMA who teaches accounting courses at Master's Level

jgordosea

jgordosea

Enrolled Agent

2,885 satisfied customers

I've prepared all types of taxes since 1987.

R. Klein, EA

R. Klein, EA

Enrolled Agent

1,839 satisfied customers

Over 20 Years experience

< Previous | Next >

Related Tax Questions
I just received a California Notice of Proposed Assessment
Hello! I just received a California Notice of Proposed Assessment (FTB 7275) for tax year 2013. In 2013 when I was unemployed I took an early withdrawal from my 403B account. I had VALIC AIG take out … read more
Barbara
Barbara
Enrolled Agent, Paralegal
3,785 satisfied customers
My question is how to change the tax rate on the Panasonic
My name is ***** ***** My question is how to change the tax rate on the Panasonic 7500? thank you … read more
taxmanrog
taxmanrog
Master\u0027s Degree
768 satisfied customers
This might be more of a real estate tax question. I bought
Hi. This might be more of a real estate tax question. I bought and lived in a townhouse for 10 yrs. (cost $160000, it is now worth less, maybe 110000) and I have rented it for the last 2 yrs. I am get… read more
Barbara
Barbara
Enrolled Agent, Paralegal
3,785 satisfied customers
On this new tax bill, if you pay real estate taxes and are
On this new tax bill, if you pay real estate taxes and are limited to deducting 10K would you still get that deduction AND the 24K standard deduction since all other itemized deductions (except mortga… read more
PDtax
PDtax
Owner
Master\u0027s Degree
1 satisfied customers
Will the new tax rates for businesses apply to sole
Will the new tax rates for businesses apply to sole proprietor medical practices? … read more
emc011075
emc011075
Senior Tax Specialist
Bachelor's Degree
16 satisfied customers
Can I prepay my Real estate taxes for 2018 in 2017 so I can
Can I prepay my Real estate taxes for 2018 in 2017 so I can get the deduction instead of losing it in 2018?So that pn the 2017 income tax return there would be 2 RE tax paymentsKindly advise… read more
Robin D.
Robin D.
Senior Tax Advisor 4
16,211 satisfied customers
Assuming a Medicare tax rate of 1.45% and monthly gross
Assuming a Medicare tax rate of 1.45% and monthly gross wages of $2,500, the amount recorded in Medicare Tax Payable for one quarter for the employee's payroll deduction is… read more
taxmanrog
taxmanrog
Master\u0027s Degree
768 satisfied customers
What is the substative regulation pursuant to assessment of
what is the substative regulation pursuant to assessment of income tax, published in the Federal register, according to 26 usc 6323 (1.6323) … read more
Carter McBride
Carter McBride
LLM
233 satisfied customers
What are the taxes rates 2016 for term gains in irrevocable
what are the taxes rates 2016 for long term gains in irrevocable trusts … read more
Chad EA, CFP ®
Chad EA, CFP ®
IRS Enrolled Agent, CFP(R),
Master\u0027s Degree
1,067 satisfied customers
Our property taxes have been steadily going up for the past
Our property taxes have been steadily going up for the past 5 years. I put in a appeal to the county and they just now sent a reply they upped my taxes $1200 to almost $10,000 a year. Our house was va… read more
Fred Rook
Fred Rook
Corporate Controller
BSBA
63 satisfied customers
I have a income and my real estate taxes on my home doesn't
I have a income and my real estate taxes on my home doesn't not seem to affect the amount I owe in taxes on the 1040 , what is the reason for this?… read more
Barbara
Barbara
Enrolled Agent, Paralegal
3,785 satisfied customers
I received two proposed tax assessments from the Franchise
I received two proposed tax assessments from the Franchise Tax Board. One is for me personally and one is for my business, an S Corp. Can they proceed with a bank levy without issuing an Order to With… read more
LEV
LEV
Retired
Bachelor's Degree
14,896 satisfied customers
Real estate tax exemption removal back taxed. Property was
Real estate tax exemption removal back taxed. Property was owned by church in small town. Now private owned residential. Back tax assessed is more than current year tax!… read more
NPVAdvisor
NPVAdvisor
CFP Licensee and Practitioner
Master's Degree
180 satisfied customers
I have a real estate tax question regarding a short sale of
Hello, I have a real estate tax question regarding a short sale of a rental property in Philadelphia, PA. I bought the 2 unit house for 109,900 and I would like to short sell for to the bank after fee… read more
Mark Taylor
Mark Taylor
Certified Public Accountant
Masters
2,275 satisfied customers
North carolina property taxes. Does NC use an assessed value
north carolina property taxes. Does NC use an assessed value or market value for tax assessment? I'm a disabled veterans and I understand that NC forgives $45,000 of the value but I don't know which v… read more
NPVAdvisor
NPVAdvisor
CFP Licensee and Practitioner
Master's Degree
180 satisfied customers
I have an inquiry in regards to California real estate tax
Hi there, I have an inquiry in regards ***** ***** real estate tax law. Here is a scenario:A residential real estate, rental property, was sold in 2013, owned 100% by my sister-in-law.The property was… read more
NPVAdvisor
NPVAdvisor
CFP Licensee and Practitioner
Master's Degree
180 satisfied customers
Real Estate Tax Question Two sisters Inherited home in 2009
Real Estate Tax Question Two sisters Inherited home in 2009 California House was in probate a few years after mother's death in 09. House was put into service as a rental in 2012 but not yet claimed o… read more
keeperumiami
keeperumiami
Sr Financial & Tax Consultant
Bachelor\u0027s Degree
1 satisfied customers
Can I deduct real estate taxes on the Federal tax form,
Can I deduct real estate taxes on the Federal tax form, which I paid on land I own that is not my first or second home? … read more
Richard
Richard
Tax Attorney
Doctoral Degree
4,338 satisfied customers
Disclaimer: Information in questions, answers, and other posts on this site ("Posts") comes from individual users, not JustAnswer; JustAnswer is not responsible for Posts. Posts are for general information, are not intended to substitute for informed professional advice (medical, legal, veterinary, financial, etc.), or to establish a professional-client relationship. The site and services are provided "as is" with no warranty or representations by JustAnswer regarding the qualifications of Experts. To see what credentials have been verified by a third-party service, please click on the "Verified" symbol in some Experts' profiles. JustAnswer is not intended or designed for EMERGENCY questions which should be directed immediately by telephone or in-person to qualified professionals.

Disclaimer: Information in questions, answers, and other posts on this site ("Posts") comes from individual users, not JustAnswer; JustAnswer is not responsible for Posts. Posts are for general information, are not intended to substitute for informed professional advice (medical, legal, veterinary, financial, etc.), or to establish a professional-client relationship. The site and services are provided "as is" with no warranty or representations by JustAnswer regarding the qualifications of Experts. To see what credentials have been verified by a third-party service, please click on the "Verified" symbol in some Experts' profiles. JustAnswer is not intended or designed for EMERGENCY questions which should be directed immediately by telephone or in-person to qualified professionals.

Show MoreShow Less

Ask Your Question

x