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1. What is Real Property?

Includes the land itself and all growing crops, buildings, structures, improvements and fixtures on the land. It also includes all rights and privileges belonging or related to the land.

2. What are Assessment and Reassessment?

Assessment is the process of placing value on a property for the purpose of property taxation. Reassessment is an update of all real property assessments in the county, conducted by the Assessor to equalize values among taxpayers and to adjust values to current market conditions.

3. Why is Reassessment Necessary?

Under Missouri's Constitution, all assessments for property tax purposes must be based upon market value and be uniform within the same class or subclass of property.

Over time, the value of property may change, depending upon its nature, location, and other factors. Some values change more rapidly than others. Reassessment is the only way to be sure that the taxpayer is being taxed fairly, and is taxed the same as other comparable property.

4. How Often is Property Reassessed?

Reassessed values of real estate are placed on the tax rolls by the Assessor every odd-numbered year (2019, 2021, etc.).  With over 40,000 parcels in the county, we may not get to all of them every two years.

5. What Happens in the Even Year?

For most real estate owners, nothing. However, if new construction, rehabilitation or renovation have taken place, the property's market value is adjusted to reflect the added value of the new construction. If some type of destruction occurs such as fire or flood the value is then adjusted to reflect the decrease in value. The total value is based upon the market conditions as of January 1 of the preceding year.

6. Is all Real Property taxed?

No.  Exempt real estate includes property owned by governments, and property used as non-profit cemeteries, exclusively for religious worship, for schools and colleges, and for purely charitable purposes.  However, exemption is not automatic, and it is the responsibility of the property owner to show the property should be exempt from ad valorem taxes.

7. If No Improvements Have Been Made to My Property, Why Should the Assessed Value Increase?

Over time market value changes even if no improvements are made to the property. Many people sell their homes for much more than they paid for them years earlier. The statutes require that property be periodically reassessed to maintain realistic market values and treat all taxpayers fairly. We often get calls at bill time where taxpayers do not understand a raise in the tax amount. In many cases the assessed amount has not changed but the tax rate has making the tax amount due higher than the previous year.

8. What is Market Value?

Market value, true value in money and appraised value have the same meaning under Missouri law. A simple definition of market value is the price the property would bring when offered for sale by a person who is willing but not obligated to sell it, and is bought by a person who is willing to purchase it but who is not forced to do so.