Are You Prepared for the 2023 Missouri Property Tax Revaluation?
All counties in Missouri are required by state law to reassess real estate every odd-numbered year for tax purposes.
The process for contesting property value assessments in Missouri generally involves three stages:
- Assessor’s Office Informal Meeting. The informal appeal process in Missouri is not a required step; however, with the right representation, you can gain insight into how the assessment was made, which factors were considered, and which records were consulted that yield satisfactory results.
- Appeal to the Board of Equalization. In Missouri, the Board of Equalization (BOE) is a statutory Board governed by the Missouri Constitution and Statutes. There is a very strict deadline for filing an appeal with the county BOE or requesting an exemption, and appeals can be filed in either even or odd-numbered years. This is a required step in the appeal process.
- Appeal to the Missouri State Tax Commission. The owner may appeal the BOE decision to the Missouri State Tax Commission by September 30 or 30 days after the BOE decision, whichever is later. Property taxes must be paid by December 31 or become delinquent after that date. In most cases, taxes must be paid before the appeal process can be completed, and the appeal process can be lengthy. As a result, the property owner usually pays the tax under protest. In the event of a successful outcome before the State Tax Commission, any overpayment will be refunded.
The 2023 assessments have increased for many property owners. To minimize your property tax exposure, it is critical that all assessments are reviewed, and the local experts at Ryan have a proven history in assisting clients.