The Assessor’s job is to place a value on all taxable real and personal property, within the county as of January 1, the assessment date set by statute. All county assessor’s offices are regulated, and overseen, by The Missouri State Tax Commission. Monthly visits by field representatives, and annual spot-review of properties, aid them in evaluating the assessor’s compliance with the statute requirements.

There are two types of local property taxes, Real Estate and Personal Property. Real Estate property has three subclasses—Residential @ 19% of market value; Agricultural @ 12% of production value; and All Other @ 32% of true value in money. Personal subclasses are Grain @ 1/2% of 1%, Historical Vehicles and Airplanes @ 5%, Farm Machinery/Livestock @ 12%, Manufactured Housing @ 19%, and All Other at 33 1/3% of true value in money. Audrain County has over 60,000 structures on the real tax roll and over 165,300 articles of personal property that have to be valued each year.

State Statute 137.280 RSMo., requires every taxpayer to turn in a listing of their personal property, as of January 1, to the assessor between January 1, and March 1. Failure to submit a listing by March 1, can result in a late assessment penalty, up to $100.00.

Real Estate property is reviewed every two years, to see if any change needs to be made to the valuation. Most common changes are for new construction or demolition, but changes may be necessary for other reasons including, the use of the parcel has changed, the age and/or condition of the structures may require a change in depreciation, or the market value of an area has decreased or increased. Assessors are required to value real estate within 5% of the market value, per state law.

Using the above statutory subclass percentages, the assessed value is calculated, and combined totals of the Real Estate and Personal taxrolls, are turned over to each of the taxing districts (schools, roads, fire, ambulance, county, library, etc.) June 1.   Districts then start the process of setting their levy for that year. Each of those districts determine what levy is required, to collect enough monies to fund their operation, using their assessed valuation as the base.

The following dates are important to taxpayers in the assessment process:

The assessment process is very involved, and when you have questions, please contact the office so we can give you the correct answer. There are information pamphlets published by the State Tax Commission available in the office, that discuss various htmlects of the local property tax process. Local property taxes effect each, and everyone of us, in one way or another, everyday. Understanding how the process works is the first step, in changing or improving the system. We will gladly review your parcel, and discuss how we arrived at the value on your property, if you have questions about your valuation. If your taxes are escrowed you should notify your bank, as soon as possible, if you receive a notice, so they can make any necessary adjustments in your monthly payment.

If you buy or sell property during the year, the estimated taxes that will be due, are usually split between the buyer and seller, at the time of the sale. If a property is sold, and the transaction recorded before September 1, the buyer will most likely receive the current year’s tax statement for the entire year’s taxes. If the sale occurs after September 1, the seller usually receives the statement, because the taxbooks and statements are printed in September. This needs to be addressed at the time of closing, and arrangements made to be sure the taxes are paid before the deadline of December 31. Ultimately, it is the buyer's responsibility to make sure the taxes are paid.

Frequently asked questions about taxes:

Why do I have to turn in a personal property listing if I have the same items as last year_

Because of the January 1, assessment date, our experience shows that many people trade different vehicles in January. By the next January, they have had that vehicle a year, so they think they have the same vehicles as the previous year, when their list really has had changes. Livestock numbers and grain usually changes each year, also. With over 165,300 articles of personal property in Audrain County, it is impossible to "lookup" all these items in addition to placing a value on each one, in the allotted time between January and May each year.

Why does my real estate value change when I haven’t sold it or made any changes_

Real estate is an investment and we all hope that our investments gain in value over the years, and for the most part, if taken care of, they will be worth more in the future. In Missouri the local property tax system is based on the true value in money of all property, so when property values increase, your assessment should increase also. By the same token, if values decrease, then assessments decrease also, for the given period.

Why does my taxbill always increase_

Several factors decide if and when your taxbill will increase, beside the assessed value. Levy increases are voted for, by the people, for schools, hospitals, libraries, road districts, etc. Many times even though a certain amount is voted, the district, may decide that the entire levy amount is not required and voluntarily lower their levy until more funds are needed. The next year they may use the entire levy amount approved by the voters, so it appears that their taxes increased without a vote, when in reality they paid less in the previous year than had been approved. When you purchase additional or newer vehicles, your taxbill will increase.

Doesn’t the license bureau tell you when I trade vehicles_

No, the license bureau does not give us any information on vehicles traded or purchased. Their only function that relates to the assessor’s office is that they are required to see proof that you have paid your prior year’s taxes on the vehicles that are being renewed. We receive a printout from the Dept. of Revenue once a year showing the taxpayers for our county.

What does a Notice of Change in Assessed Valuation really mean to me_

Whenever the value of a property is increased, we are required by statute to notify you of this increase and allow you an opportunity to discuss the value with the assessor and appraiser. This increase may, or may not, result in an increased taxbill, depending on the size of the increase in assessment. You also have the opportunity to appeal the value to the Board of Equalization, and the State Tax Commission, and ultimately to the Supreme Court if you desire. Most differences are resolved at an informal meeting between the taxpayer and assessor’s office. The assessment process requires us to value real estate within 5% of the market value of that property. Properties that have not sold are the most difficult, because they haven’t had a price tag put on them. In those cases, we have to search for sales of similar properties and apply adjustments to arrive at a reasonable value on the subject property. When you discuss the value with the assessor’s office or any of these others, you need to have documentation, as to why the value should be different, and present this so it can be considered.