Tax Comparison: Richmond, MO vs Cuba city, WI
Understanding Your Tax Burden
This page compares the three main types of taxes between Richmond, MO and Cuba city, WI: property tax, income tax, and sales tax. Each of these has a different impact on your overall cost of living.
Property Tax Comparison
Property taxes are collected by local governments and used to fund schools, infrastructure, and other local services. They're typically based on the assessed value of your property.
Our property tax estimates are based on:
- U.S. median home value: $419,200 (2023 data)
- Local effective tax rates for both cities
Richmond, MO
$3,429
Based on a $419,200 home
Rate: 0.8180%
Cuba city, WI
$6,037
Based on a $419,200 home
Rate: 1.4402%
| Data | Richmond, MO | Cuba city, WI |
|---|---|---|
| Effective Property Tax Rate | 0.8180% | 1.4402% |
| Estimated Property Tax | $3,429 | $6,037 |
| Home Value Used | $419,200 | $419,200 |
Comparison: Property taxes in Richmond, MO are $2,608 lower than in Cuba city, WI for the same home value.
State Income Tax Comparison
Income tax rates and brackets vary by state, impacting residents' overall tax burden. The estimates below are based on standard deductions and typical filing scenarios.
Our income tax estimates consider:
- Single filer: $100,000 annual income
- Married couple: $200,000 combined income
- Median income: $80,600 annual income
MO
2%-4.8%
Single: $4,620
Married: $8,316
WI
3.5%-7.65%
Single: $5,393
Married: $9,707
| Data | MO | WI |
|---|---|---|
| Tax Rate | 2%-4.8% | 3.5%-7.65% |
| Single Filer ($100k) | $4,620 | $5,393 |
| Married Couple ($200k) | $8,316 | $9,707 |
| Median Income ($80.6k) | $3,789 | $4,271 |
Comparison: Income taxes in MO are $482 lower than in WI for the median household income.
Sales Tax Comparison
Sales tax rates vary by location and can have a significant impact on your day-to-day expenses. These include state, county, city, and special district taxes that together form the total sales tax rate.
Our sales tax estimates consider:
- Average household taxable spending: $15,500 per year
- Combined state and local rates for both cities
Richmond, MO
10.100%
Combined rate
Annual sales tax: $1565
(Based on $15,500 spending)
Cuba city, WI
7.900%
Combined rate
Annual sales tax: $1224
(Based on $15,500 spending)
| Data | Richmond, MO | Cuba city, WI |
|---|---|---|
| State Sales Tax | 4.23% | 5.00% |
| Combined Sales Tax | 10.100% | 7.900% |
| Annual Tax Amount | $1,565 | $1,224 |
Comparison: Shopping in Cuba city, WI costs $341 less in annual sales tax than in Richmond, MO for the average household.
Tax Comparison Insights
Tax Insights: Richmond vs Cuba city
- Property Tax: Richmond has a 0.6222 percentage points lower effective property tax rate than Cuba city.
- Income Tax: Living in MO could save you approximately $482 in state income taxes for a median household income.
- Sales Tax: The combined sales tax rate in Cuba city is 2.20 percentage points lower than in Richmond.
Overall Tax Burden Comparison
Richmond, MO
$8,783
Combined annual tax burden
Property
$3,429
Income
$3,789
Sales
$1,565
Cuba city, WI
$11,532
Combined annual tax burden
Property
$6,037
Income
$4,271
Sales
$1,224
Overall Comparison: Richmond, MO has an estimated $2,749 lower total tax burden than Cuba city, WI based on our standard scenarios.
Important Tax Disclaimer
The tax information provided above is based on publicly available data and standard assumptions. Actual tax situations will vary based on:
- Individual financial circumstances
- Applicable deductions and credits
- Recent changes in tax laws
- Personal spending habits
- Local variations within cities and counties
This comparison is intended for general informational purposes only and should not be considered tax advice. For specific guidance regarding your tax situation, please consult with a qualified tax professional.