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Missouri Real Estate
Missouri links the northern and southern states. It was logical that it became the theater for many important battles of the civil war. Missouri was also the gateway to the west during the California Gold Rush. Missouri has the distinction of bordering 8 different states – Illinois, Kentucky, Tennessee, Arkansas, Oklahoma, Kansas, Nebraska, and Iowa.
The State experienced an upsurge of population growth in 2006. The population is recorded at 5,842,713. This population increase was contributed by migration, and births.
The upsurge in Missouri real estate is a by-product of the increase in population. Missouri real estate is definitely on the upswing. The real estate taxes are reasonable and set well within the limits. Should you wish to relocate or put up a business in Missouri, you can contact any of the Missouri real estate offices online.
Because of its proximity to 8 other states, you can ask the Missouri real estate agents to find the ideal place for you. The real estate agents in Missouri can help you find the right school for your children, investment properties, and even give you a house list for your perusal and study.
Economy
Missouri enjoys a brisk economy. Missouri real estate investors can take a look at the prospects in aerospace, transportation, equipment, chemicals, food processing, light manufacturing, publishing and electrical equipment.
In agriculture, Missouri is one of the top six states in hog raising, seventh in cattle, and fifth in soy bean production. Other major agricultural products are beef, dairy products, soybeans, pork, eggs, poultry, hay, and corn. The number of farms is second largest after Texas. The wine industry is also flourishing.
Mining quarries produce vast quantities of limestone. Other resources are lead, crushed stone, Portland cement, and coal. Manufacturing leads tourism services and wholesale/retail trade.
The local government levies a 1.5 percent to 6.0 percent tax on personal income-depending on 10 different earning categories. Sales tax rate for most items is 4.225 %. There is no inheritance tax and limited estate tax in relation to federal estate tax collection. Property taxes though are levied on real property and personal property.
Real estate taxes is based on the assessed value of the property. Real residency tax is 19%. The tax rate is bracketed below according county:
St. Louis County-7.27%
Franklin (Union)-6.556%
Lincoln (Troy)-5.67%
Jefferson (De Soto)-6.15%
Washington (Potosi)-5.06%
St. Charles County-6.60%
St. Louis City-6.635%
Warren (Warrenton)-5.551%
Corporate income tax rate is 6.25%. This is applied to taxable income. This is the same as federal taxable income. Missouri permits 50% deduction of the income tax payment before calculating taxable income.
For Missouri corporations a franchise tax is applied. The tax is 0.033% of the value of the amount of the par value of shares or excess shares greater than $1 million.
Recreation and Places of interest
There are several renowned museums, parks and some hilarious museums that can perk up your in Missouri.
About the Author
Seth Willis Jr. is the webmaster for
http://www.planetpads.com
and a savvy real estate investor. His focus for Planet Pads is to allow users to showcase their real estate from all over the world .Users can browse properties , rentals , vacation homes and commercial properties from every corner of the globe.