Iowa’s 3.8% flat rate beats Missouri’s 4.8% top rate for most earners, saving $664/year on $100,000 income. Iowa’s biggest advantage is its complete retirement income exemption introduced in 2023 — pensions, Social Security, and 401(k) withdrawals are all tax-free. Missouri partially exempts Social Security (under $85,000 single), but Iowa’s blanket exemption makes it the clear winner for retirees. Iowa’s property tax (1.57%) is notably higher than Missouri’s (0.93%), which may offset income tax savings for homeowners.

By Daniel, Founder of CountryTaxCalc

Daniel has spent 5+ years researching tax systems across 95+ countries and all US states to make tax comparison accessible to everyone. For corrections, contact us.

Last Updated: April 2026

The Big Picture

🌽 Iowa

3.8%

Flat Rate

Flat 3.8% since 2025, down from 8.53% top rate in 2022

⚪ Missouri

4.8%

Near-Flat Rate

Top rate 4.8% applies above $9,072 — effectively flat for most earners

Typical Annual Savings

At $100,000 income:

$664

That is $55/month back in your pocket!

Tax Savings by Income Level

IncomeIA TaxMO TaxSavings10-Year
$50,000 $1,900$2,064$164$1,640
$75,000 $2,850$3,264$414$4,140
$100,000 $3,800$4,464$664$6,640
$150,000 $5,700$6,864$1,164$11,640
$250,000 $9,500$11,664$2,164$21,640
$500,000 $19,000$23,664$4,664$46,640
💡

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Iowa Pros and Cons

✅ Pros

  • Full retirement exemption: ALL pensions, Social Security, and 401(k) income tax-free since 2023
  • Lower income tax rate: 3.8% flat vs Missouri’s 4.8%, saving $664/year on $100k
  • No estate tax: Iowa eliminated its estate tax in 2022
  • Dramatic rate reduction: Iowa cut rates from 8.53% (2022) to 3.8% (2025) — ongoing reform trend

❌ Cons

  • Higher property tax: Iowa 1.57% vs Missouri 0.93% — costs $2,560 more/year on a $400k home
  • Harsh winters: Des Moines averages 34 inches of snow annually
  • Smaller job market: Des Moines metro 0.7M vs Kansas City metro 2.2M
  • Rural economy: limited tech sector and fewer Fortune 500 employers

Missouri Pros and Cons

✅ Pros

  • Lower property tax: Missouri 0.93% vs Iowa 1.57% saves $2,560/year on a $400k home
  • Kansas City and St. Louis: two major metros with diverse job markets
  • Partial Social Security exemption: SS exempt for single filers under $85k, joint under $100k
  • No estate tax: Missouri also has no estate or inheritance tax

❌ Cons

  • Higher income tax rate: 4.8% top rate vs Iowa’s 3.8% costs $664 more on $100k
  • Retirement income taxed: pensions and 401(k) withdrawals fully taxable (only partial SS exemption)
  • Crime rates: Kansas City and St. Louis rank among highest crime cities in the US
  • Limited rate reform: Missouri’s 4.8% rate has not been reduced as aggressively as Iowa’s

Frequently Asked Questions

Q: Is Iowa really better than Missouri for retirees?

Yes, Iowa is clearly better for retirees. Since 2023, Iowa exempts all retirement income — Social Security, pensions, annuities, and 401(k)/IRA withdrawals are completely tax-free. Missouri only partially exempts Social Security (for those earning under $85k single or $100k married), and fully taxes pension and 401(k) income. A retiree with $80,000 in pension and SS income pays $0 in Iowa and up to $3,840 in Missouri.

Q: How much does Iowa’s higher property tax offset its income tax savings?

Iowa’s property tax rate (1.57%) is significantly higher than Missouri’s (0.93%). On a $300,000 home, Iowa costs $4,710/year vs Missouri $2,790/year — a $1,920 annual difference. On a $400,000 home, the gap is $2,560/year. For workers saving $664 on income tax, Iowa’s property tax disadvantage more than wipes out the income savings unless you rent or own a modest home.

Q: What was Iowa’s old top income tax rate before the reforms?

Iowa had one of the highest state income tax rates in the US. In 2022, the top rate was 8.53% on income above $78,435. The state passed major tax reform in 2022, phasing rates down to a single flat rate. By 2025, Iowa reached 3.8% flat, and the rate is scheduled to potentially fall further. This makes Iowa’s trajectory one of the most dramatic tax reform stories among US states in recent years.

Q: Which state is better for high earners — Iowa or Missouri?

Iowa wins for high earners on income tax alone. At $250,000, Iowa costs $9,500 vs Missouri $11,664 — a $2,164 annual saving. At $500,000, Iowa saves $4,664/year. However, high earners who own expensive property may find Missouri’s lower property tax (0.93% vs 1.57%) partially or fully offsets this. The net winner depends on your home value, but Iowa’s flat rate provides more certainty as income scales.

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