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 county assessor to equalize values among taxpayers and to adjust values to current market conditions.

Reassessed values of real estate are placed on the tax rolls by the assessor in odd-numbered years. Personal property is assessed every year.

For most real estate owners, nothing happens in the even years. However, if new construction and improvements have taken place, the property’s market value is adjusted to reflect the added value of the new construction. The total value is based upon the market conditions as of January first of the preceding year.

For example, if your house was valued by the assessor at $50,000 as of January 1 of the previous year, and you added a bedroom in June of the previous year, the increase in value would be added for the current tax year. If the house with the new bedroom would have been worth $60,000 on January 1 of the current tax year, your market value for current tax year would be $60,000.

No, not all property is taxed. Exempt real estate includes property owned by governments, property used as non-profit cemeteries, exclusively for religious worship, for schools and colleges, and for purely charitable purposes.

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

Over time, the value of a 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.

There is a registration and affidavit form online.

The county assessor is primarily responsible for assessing property within the county. However, the assessor’s work is subject to review by the County Board of Equalization and the State Tax Commission. The State Tax Commission is the state agency charged with general supervision of assessors and with enforcing property tax laws.

The county assessor is primarily responsible for assessing property within the county. However, the assessor’s work is subject to review by the County Board of Equalization and the State Tax Commission. The State Tax Commission is the state agency charged with general supervision of assessors and with enforcing property tax laws.

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.

Once the estimate of market value has been determined, the Assessor calculates a percentage of that value to arrive at assessed value. The percentage is based on the classification, determined by the type of property or how it is used. The percentages are:

• Agricultural - 12%
• Commercial and all other - 32%
• Real estate residential - 19%

Missouri statutes define the 3 subclasses of real estate. For more information, see the Real Estate Classifications page.

A number of methods are used. The assessor’s staff looks at new construction that has taken place, sales prices of comparable property located nearby, the condition of your property, and any other factors that can help place an accurate value on the property. For more information on the techniques available, see our Assessment Techniques page.

All values are likely to change, but not all will change to the same extent. Market values increase more in some neighborhoods than in others. A major purpose of reassessment is to make sure that the new values reflect all changes that have occurred.

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 is periodically reassessed to maintain realistic market values and treat all taxpayers fairly.

The assessor is required by the statues to notify the owner on record of any increase in valuation of real property.

If you do not agree with your assessment, there are 3 steps you can take in the appeal process. For more information, see the Assessment Appeals page.

It depends. An increase in assessed value does not necessarily equate to an increase in property taxes. Your taxes are calculated by multiplying your assessed value times the combined levies of the taxing entities which levy a tax on the particular property. If levies increase, taxes may increase even if assessed value remains unchanged or decreases. It follows that, if levies decrease, an increase in assessed values may not cause an increase in taxes.

One factor which can cause a decrease in levies is a rollback which was discussed in the previous example. Another is a voluntary reduction voted by the governing body.

Tax levies are normally set during September. That means when you receive a notice that your assessment has been increased, it is too early to be able to calculate how the change in assessed value will affect your taxes. You will not know until the rates have been set by all of the local governments that tax your property.

This information is designed to explain the reassessment process in Missouri. It is based on the laws in effect at the time it was written. Nothing here gives anyone any greater rights than they would have by law. If the laws change, the facts and procedures mentioned may also change.