Jefferson County Assessment Information

RANDY B. HOLMAN
ASSESSOR

Jefferson County
OFFICE OF THE ASSESSOR
Assessment Information

How is my real property valued?

All real estate is primarily valued on a large-scale method called mass appraisal. The value is based on current costs to replace the property minus accumulated depreciation. This is an efficient and fair method for determining the values of land and homes when being performed on a large amount of properties.

When is my property reassessed?

State law requires assessor's throughout the state to reassess all the real property liable for taxes every odd numbered year. This is a large undertaking, but keeps property assessments consistent with the actual events that are occurring in the open real estate market for Jefferson County. Personal property is updated every year. A change in real estate value may also be due to a physical change to the property, or because only a portion of the property was assessed the previous year and the full value is applied upon completion of new construction and/or occupancy.

What is market and assessed value?

Market value is the actual value in dollars of the property if it were sold on the open market. Assessed value is a percentage of the market value and is determined by the classification of the property. The assessment levels applied to property are set by law and governed by the Missouri Legislature. Residential property is assessed at 19 % of its market value, commercial property is assessed at 32 % of its market value; agricultural property is assessed at 12 % of its market value.

For example:

$100,000 market value X 19% residential assessment level = $ 19,000 assessed value

Why does my assessment always seem to increase?

In a fast growing county like Jefferson, property values are increasing at a steady pace. It is the Assessor's duty, by law, to strive to maintain assessments at the "market" value of the property. However, the value of your property is only one factor in calculating your property tax bill. The most significant factor in determining your tax bill amount is the total amount of the tax levies, or overall tax rate, that is applied to your assessment.

The tax rate applicable to your property is how the county collector and clerk arrive at your tax bill amount. The combination of school, fire, ambulance and other entities that service your property, determines the tax rate applied to your property. Depending on various factors, the entities in your area may increase or decrease their levies resulting in a direct effect on your tax bill. If your tax rate is raised, either by entity action or election approval, your taxes may increase without an adjustment in your assessment.

Is there an appeal process?

If you feel the current assessor's value is out of line, first call the Assessor's Office and review the information on file to see if it accurately represents your property. If, after discussing your property valuation with the Assessor's Office, you are still not satisfied, you may contact to the Jefferson County Board of Equalization (BOE), before the third Monday in June of each year, to file an appeal. This may be accomplished by calling the County Clerk's Office at (636) 797-5478.

Subsequent appeal measures may be addressed at your hearing with the Board of Equalization; if the BOE doesn't rule favorably you may further your appeal rights to the Missouri State Tax Commission.

Is there any tax relief available?

Senior Citizen / Disabled Citizen Property Tax Relief

Currently there are two programs in place to assist senior citizens with real estate property taxes. The state of Missouri administers both programs. Read the qualifications below carefully to determine which program you might qualify for.

SENIOR CITIZENS CIRCUIT BREAKER
MISSOURI PROPERTY TAX CREDIT PROGRAM (MO-PTC)

You may qualify for a refund from the State of Missouri up to $750 if you are:

Age 65 on or before December 31, 2005 OR
You or your spouse is 100% disabled OR
An individual age 60 or older who is receiving surviving spouse social security benefits AND
You or your spouse were Missouri residents for the entire calendar year AND
Your total household income, including social security benefits, does not exceed $25,000 for single individuals, or $27,000 for married couples AND
You paid real estate taxes or rent on the home or manufactured home you occupied in 2005.

HOMESTEAD PRESERVATION ACT

The Homestead Preservation Act gives qualified senior citizens and 100% disabled individuals a credit on their real estate property tax. The credit would be for the amount that exceeds 2.5% increase in real estate property tax in a non-reassessment year, or 5% increase in a reassessment year. The Act requires a legislative appropriation to fund the credit. If the funding is less than 100% the credit will be a flat statewide percentage based on the appropriation amount. This credit will be applied against your tax bill for the following year.

Qualifications are:

Age 65 or older, if married at least one 65 or older and the other is 60 OR
100% disabled AND
Maximum Federal adjusted gross income does not exceed $70,000 per application AND
All real estate taxes must have been paid for current year and previous two years AND
The property (home and up to 5 acres) must be owned and occupied by the claimant AND
Cannot file for Missouri Property Tax Credit (Circuit Breaker) for the same tax period.

For more information on both programs you can call the Missouri Department of Revenue at: 573-751-3505 or the Area Agency on Aging at 1-800-243-6060. Mid-East Area Agency on Aging.


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