How JustAnswer Works:
  • Ask an Expert
    Experts are full of valuable knowledge and are ready to help with any question. Credentials confirmed by a Fortune 500 verification firm.
  • Get a Professional Answer
    Via email, text message, or notification as you wait on our site.
    Ask follow up questions if you need to.
  • 100% Satisfaction Guarantee
    Rate the answer you receive.
Ask Robin D. Your Own Question
Robin D.
Robin D., Senior Tax Advisor 4
Category: Tax
Satisfied Customers: 15332
Experience:  15years with H & R Block. Divisional leader, Instructor
14155347
Type Your Tax Question Here...
Robin D. is online now
A new question is answered every 9 seconds

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

Resolved Question:

How can I calculate annual real estate tax on house I am trying to purchase in Chesterfield MO?
Submitted: 5 years ago.
Category: Tax
Expert:  Robin D. 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 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
Expert:  Robin D. 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/

 

Customer: 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)?
Expert:  Robin D. 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. and other Tax Specialists are ready to help you