Frequently Asked Questions

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 every odd-numbered year (2013, 2015, 2017, etc.). Personal property is assessed every year.

For most real estate owners, nothing. However, if new construction and improvements have taken place, the property is reassessed in the even-numbered year — but only to pick up the value that has been added. That value is based upon market conditions as of January first of the preceding year.

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.

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.

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 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.

• 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 roof, HVAC, plumbing, parking or environment that may lower the taxable market value of your 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 Property

Historic Autos 5%
Farm Equipment, Livestock 12%
Grain ½%
Cars, Boats, Other 33 1/3%

As an example, a residence with a market value of $50,000 would be assessed at 19%, which would place its assessed value at $9,500. An automobile with a market value of $10,000 would be assessed at 33 1/3%, or $3,333.

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.

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.

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 an appeal.

2. Presenting the Appeal

It is our job to timely and professionally prepare, file and present appeals to the Assessor and/or Board of Equalization. You do not need to be present at the hearing or deal with any government regulators. PAR handles all communication and requests from the assessor’s office. We provide and pay for expert legal counsel or expert appraisal testimony to represent client, if necessary.

3. Locking in the Savings

We ensure the lower taxes we negotiate for you is thoroughly documented by the proper authorities. We make sure your final tax bill is accurate and calculate your new, lower taxes and amount saved.

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 the savings, depending on the size of the tax bill.