By Derek Ramsay, KCRAR VP of REALTOR® Advocacy
Every odd numbered year, County Assessors in Missouri determine the value and subclassification of real property. The amount of taxes imposed are based on the assessed value of their taxable property established by the local assessor and the tax rates which are set by the local governments in which the property is located. In Missouri, residential property is assessed at 19% of value.
Missouri property owners should receive their assessment notices from their county by mid-May. Even though this is a biennial event, many homeowners may be unaware of the process and the fact that they can appeal the value of their property determined by the assessor. Especially in this unique market, homeowners may experience unexpected increases in their assessed valuations compared to those in 2019 and may be looking for expert advice and assistance.
This is a great opportunity for REALTORS® to reach out to past clients and customers, offering to help them determine a fair assessed valuation and navigate the appeals process if applicable. KCRAR has created an assessment resource guide listing details and information (where available) from the 25 Missouri counties in our service area, as well as contact information and important deadlines. Please note that appeals to the Board of Equalization are being accepted from May 1 to July 12, with hearings commencing in most counties on July 19.
While no one likes paying taxes, expert advice from a REALTOR® can help property owners feel more confident that they are getting a fair assessment from their government, or help save them money if they’re not.
Note: The deadline for appeals in Kansas counties is 30 days from the date of the mailing of the assessment. Since those deadlines have all passed, the next opportunity for property owners to appeal is when they pay their taxes in December. At that point, the second half of their 2021 tax can be appealed. Please check your county website for additional details.