What is reassessment?
Reassessment is the process of revaluing all property and bringing it in line with current market value. Since property is taxed according to its value, reassessment creates fairness so every property pays a fair amount of the tax burden.
Why does reassessment occur?
Beginning in 1987, Missouri law required all counties to conduct a reassessment of property located within the county in every odd numbered year. Reassessment occurs on January 1st.
What happens during reassessment?
Prior to reassessment, appraisers work year-round to collect information related to a property’s value. They review building permits, confirm information related to sales, and conduct property reviews.
When reviewing values for reassessment, the Assessor’s Office compares a property’s estimated value with current neighborhood sales to ensure it aligns with local market value.
What happens after reassessment?
The Assessor's Office sends out Change of Assessment Notices to anyone whose value increased. If you do not receive a notice you can look up the property's information online. If you do not agree with your assessment you may appeal it; find more information on appealing here.