Property Tax Task Force

1 decade 1 year 3 months ago Friday, August 31 2007 Aug 31, 2007 Friday, August 31, 2007 3:05:27 AM CDT August 31, 2007 in News
Source: Missouri State Assessor's Association

Property values shot up and so did property taxes. Now some Missourians are asking the government for a little relief.

The Speaker of the Missouri House, Rod Jetton, is putting together a task force that will begin looking into property rates in Missouri starting next week. The task force will look at how property assessments are done and if those assessments are fair.

They will also look into possibly standardizing procedures across the state and see how other states operate. The Cole County Property Assessor's office reminds everyone that it should not be branded as the bad guy, which is sometimes  the case. More goes into property taxes than the property value.

"Well I think it's interesting that taxes and tax rates in general have gone up over time and quite a bit of that is due to the fact that people have voted in tax increases. They don't always realize when they vote in tax increases what that means when a re-assessment occurs," said Shawn Ordway, the Cole County Assessor.

A lot of those taxes include those on schools, fire districts, libraries, and general city taxes. The task force will begin forming a schedule next week and plans to hold public hearings across the state including Mid-Missouri.  Speaker Rod Jetton is asking that the group submit a report by mid-December so he can review it aand possibly put any suggestions into a legislature package for next year's legislative session.

Here are some of the frequently asked questions from the Missouri State Assessor's Association.  Visit their website, along with the Cole County website to find more!

What types of property are there?
Two types of tangible property:
1.  Real Property - Includes land, improvements to the land and all rights inherent in ownership
2.  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, aircraft and farm equipment.

How is my assessment level established?
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
- Historic Autos (5%)
- Farm Equipment & Livestock (12%)
- Grain (1/2 of 1%)
- Cars, Boats, Other (33 and 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.

Is all property taxed?
No. Some personal property is exempt, including household goods, inventories, clothing apparel and items of personal use and adornment. Exempt real estate and personal property can also include property owned by governments, and property used as non profit cemeteries, exclusively for religious worship, for schools and colleges, and for purely charitable purposes.

In addition, there are about 50 economic development zones in the state, located in places where there is blight, unemployment, etc. In those areas, to attract employers, or encourage employers to expand, some property improvements are given tax abatements for a period of years.

Additional Reporting by: Ashley Smith

More News

Grid
List
TAOS - A school bus holding 38 students ranging from K-12 was hit head-on Tuesday morning while stopped on Dove... More >>
53 minutes ago Tuesday, December 11 2018 Dec 11, 2018 Tuesday, December 11, 2018 12:19:00 PM CST December 11, 2018 in News
KANSAS CITY (AP) — Both U.S. senators from Missouri are demanding answers about the death of a veteran after an... More >>
2 hours ago Tuesday, December 11 2018 Dec 11, 2018 Tuesday, December 11, 2018 10:58:05 AM CST December 11, 2018 in News
COLUMBIA - Blue Ridge Elementary School is on a modified lockdown due to a police investigation, the district confirmed Tuesday... More >>
2 hours ago Tuesday, December 11 2018 Dec 11, 2018 Tuesday, December 11, 2018 10:39:22 AM CST December 11, 2018 in News
JEFFERSON CITY - Jefferson City Public Schools has named the first football head coach for the new Capitol City High... More >>
3 hours ago Tuesday, December 11 2018 Dec 11, 2018 Tuesday, December 11, 2018 9:55:00 AM CST December 11, 2018 in News
JEFFERSON CITY - The agreement between the Jefferson City School District and the city will reimburse the school district up... More >>
5 hours ago Tuesday, December 11 2018 Dec 11, 2018 Tuesday, December 11, 2018 7:30:00 AM CST December 11, 2018 in News
COLUMBIA - Firefighters responded to a residential structure fire overnight. The blaze started around 11:49 p.m. Monday. The fire... More >>
9 hours ago Tuesday, December 11 2018 Dec 11, 2018 Tuesday, December 11, 2018 3:16:00 AM CST December 11, 2018 in News
COLUMBIA - Some students are starting to voice their opinions about possible redistricting of a new middle school. CPS... More >>
16 hours ago Monday, December 10 2018 Dec 10, 2018 Monday, December 10, 2018 8:30:00 PM CST December 10, 2018 in News
JEFFERSON CITY - More than 100 people gathered in Jefferson City Monday to learn more about the planned health care... More >>
17 hours ago Monday, December 10 2018 Dec 10, 2018 Monday, December 10, 2018 8:08:00 PM CST December 10, 2018 in News
COLUMBIA - Nobel Prize winner George P. Smith, a retired professor, says he lives a rather humble life beyond the... More >>
17 hours ago Monday, December 10 2018 Dec 10, 2018 Monday, December 10, 2018 7:13:00 PM CST December 10, 2018 in News
JEFFERSON CITY (AP) — Missouri's Republican Secretary of State Jay Ashcroft on Monday asked the Democratic auditor... More >>
20 hours ago Monday, December 10 2018 Dec 10, 2018 Monday, December 10, 2018 4:22:00 PM CST December 10, 2018 in News
COLUMBIA - The University of Missouri's Dr. George Smith was awarded the 2018 Nobel Prize in Chemistry Monday afternoon in... More >>
21 hours ago Monday, December 10 2018 Dec 10, 2018 Monday, December 10, 2018 3:50:00 PM CST December 10, 2018 in News
COLUMBIA - A Boone County circuit judge sentenced Miles Leighton Hillegas to seven years in prison Monday for an April... More >>
21 hours ago Monday, December 10 2018 Dec 10, 2018 Monday, December 10, 2018 3:15:00 PM CST December 10, 2018 in News
COLUMBIA - Christian Fellowship School is mourning the loss of student Bryce Hill, who was killed in a crash Saturday... More >>
21 hours ago Monday, December 10 2018 Dec 10, 2018 Monday, December 10, 2018 3:14:00 PM CST December 10, 2018 in News
COLUMBIA - MU assistant professor Pamela Brown said Dr. George P. Smith deserves the Nobel Prize in Chemistry for more... More >>
22 hours ago Monday, December 10 2018 Dec 10, 2018 Monday, December 10, 2018 3:06:00 PM CST December 10, 2018 in News
JEFFERSON CITY- Charges have been filed in the fatal shooting of 19-year old Nilez Nichols in Jefferson City. Prosecutors... More >>
22 hours ago Monday, December 10 2018 Dec 10, 2018 Monday, December 10, 2018 2:20:00 PM CST December 10, 2018 in News
COLUMBIA - The holiday period is a busy time for scams targeting shoppers, according to Michelle Gleba, Regional Director for... More >>
1 day ago Monday, December 10 2018 Dec 10, 2018 Monday, December 10, 2018 1:04:00 PM CST December 10, 2018 in News
KANSAS CITY, Mo. (AP) — A massive tuba ensemble has smashed a Guinness World Record in Kansas City and spread... More >>
1 day ago Monday, December 10 2018 Dec 10, 2018 Monday, December 10, 2018 12:07:00 PM CST December 10, 2018 in News
STOCKHOLM, SWEDEN- University of Missouri Professor Emeritus George Smith officially accepted his portion of the Nobel Prize in Chemistry Monday.... More >>
1 day ago Monday, December 10 2018 Dec 10, 2018 Monday, December 10, 2018 11:18:00 AM CST December 10, 2018 in News
Columbia, MO
Broken Clouds 52°
1pm 47°
2pm 51°
3pm 53°
4pm 54°