PAR operates on a contingent fee basis which means you don’t pay until we are successful in achieving a reduction on your assessment. • No upfront costs • No attorney fees • No court costs • No appraisal costs • No expenses If PAR is successful in lowering your taxes, we receive a percentage of
1. Analysis & Determination of Value Our experienced Team Members will review the jurisdiction’s valuation of your property to determine the appraisal method and data employed by the assessor. We’ll then develop an independent opinion of value utilizing all three approaches to value. Comparing that result to the jurisdiction’s valuation will determine the viability of
No. If you do use the assessor’s arbitrary cost depreciation tables it virtually guarantees you overpay. The preferred approach is to utilize market sales comparables.
You self-report every year by filing a Personal Property Declaration which asks you to list the taxable personal property you owned on January 1. It asks you to classify the various type of property you have into depreciation tables to determine the value of your personal property.
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: Real Estate Residential 19% Agriculture 12% Commercial & all other 32 Personal
Assessors use mass appraisal techniques and market averages to estimate your market value. Often makes simple factual, clerical, and methodology errors. Usually uses the least reliable appraisal method – the cost approach. They don’t know the specifics of your property such as accurate income and expenses. Your property may have deferred capital expenditures such as
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
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 (see later in this FAQ). The State Tax Commission is the state agency charged with general supervision of assessors and with enforcing property tax
No. Some personal property is exempt, including household goods, inventories, wearing apparel and items of personal use and adornment. Exempt real estate includes property owned by governments, and property used as nonprofit cemeteries, exclusively for religious worship, for schools and colleges, and for purely charitable purposes.
There are two types of tangible property: Real Property — includes land, improvements to the land and all rights inherent in ownership. Personal Property — any property that is not real property, that is, not permanently affixed to or part of real estate. Personal property includes cars, boats and farm equipment.