Columbia, MO has Grown 12% Past Ten Years

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Written by Nancy Shonka Padberg, from Columbia, Missouri on Sep 27, 2010

The median home price in Columbia is $172,000, below the national median.

The city is growing, nearly 12% in the last ten years, but the overall cost-of-living remains 15% below the national average. You will find single-family homes, condominiums, town homes, apartments and manufactured homes.

The median price will purchase a comfortable, 3 bedroom, 2 bath homes in one of the newer subdivisions.

More modest but well-maintained homes in older neighborhoods can be found for less than $100,000. Brand new, brick homes with 2,500 square feet, cathedral ceilings, granite countertops and marble foyers are available in the $300,000 range.

When it comes to property taxes, residents pay roughly $6.52 per $100 assessed value, and property is assessed at 19% of fair market value. The taxes on a $172,000 house would be approximately $2,130 per year. The Homestead Preservation Credit gives qualified senior citizens a credit on their real estate property tax if those taxes increase 2.5% in a non-reassessment year or 5% in a reassessment year.

Regarding retirement income taxes, residents age 62+ with Social Security benefits and private retirement benefits receive deductions for those benefits on their state income tax return. The sales tax in Columbia is 7.35%, and overall, Missouri has the 9th lowest tax burden of all 50 states.

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