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Platte County’s more than 80,000 residents reap benefits from two major trends, an overall low cost of living coupled with abundant jobs and relative high wages. Platte County achieves this unusual mix first by virtue of its location in the Kansas City metropolitan area, one of the least expensive regions for living and operating a business in the United States. Missouri as a hole ranks sixth among the most affordable states, lower even than neighboring Kansas and behind only Arkansas, Oklahoma, Nebraska, Texas and Tennessee. Platte County’s jurisdictions help maintain this positive picture with an affordable overall tax rates. The Park Hill School District brings the largest single property tax at just over $5 per $100 of assessed valuation. Ranging from 3.5 to 6.25 percent, Kansas City’s earning’s tax can be an issue. But Riverside, for example, has no local property tax, although that community is exploring the possibility of a sales tax. Sales taxes in Platte County run 7-8 cents, including state assessments. Of course, low cost of living is only half the equation. Platte County ranks second in Missouri in terms of per capita income, behind only St. Louis County and ahead of even such dynamic areas as St. Charles and Greene counties. One obvious factor is the area’s relatively high salaries. Platte County ranks fifth in Missouri in terms of average wages, reflecting the number of high-paying jobs in Platte County as well as in nearby locations easily accessible by the area’s excellent road network. The result is a high level of disposable income that is reflected in Platte County’s relative abundance of luxury homes and upscale retail locations. These positive numbers are liable to stay constant in the foreseeable future. Platte County is growing, and much of its growth is focused on middle and upper income housing. Relative to some of its larger neighbors, Platte County’s population growth is also a fairly moderate nine percent, although areas such as Platte City and the I-29/ Highway 152 corridors are significant exceptions. |
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