Missouri State Statutes require reassessment on property to be done every odd year.
According to a news release from Assessor Christy Linhart, reassessment hasn’t been done in Cooper County since prior to 2008. What this leads to is unfair and inequitable values across the county. Political subdivisions lose money and the State Tax Commission can withhold the Assessor’s reimbursement money.
The statutes also require that the assessment values be in compliance, and the State Tax Commission requires that compliance be within 90 to 110 percent of current market value. Right now, Cooper County is at 79 percent of market value, and it is going to take several reassessment cycles to get the percentage within compliance.
Starting in 2019, the county will be changing land values. Lots, homesites and small-acreage Ag land will remain as is (Ag land is also set by statutes).
Linhart says the county will look at 2019’s studies before it is known what will need to be done in 2021.
The Assessor’s Office has to notify the real-estate owner if the value has increased, with an Impact Notice- which has the old appraised value and the new appraised value- being mailed out the first week of June. Property owners are advised to open these notices right away. If you truly believe that your real estate is not worth the new value, then you need to call or come into the office- and most questions can be taken care of then. Remember the Assessor’s Office deals in market value and not taxes. If you wait until you receive your tax bill, she says that’s too late.
Linhart says she is going to be giving some powerpoint presentations explaining in more detail about reassessment around Cooper County.
For more information, call (660) 882-2646.