How are the real estate classifications determined?
Missouri statutes define the 3 subclasses of real estate.

Subclass 1
Residential property is all real property improved by a structure which is used or intended to be used for residential living by human occupants, vacant land in connection with an airport, land used as a golf course, and manufactured home parks, but residential property shall not include facilities used primarily for transient housing.

Subclass 2
Agricultural and Horticultural property is that which is actively used for those purposes. The value of this land is established by its productivity, based on soil productivity guidelines by the State Tax Commission. It is not based on market value; however, when the highest and best use of land is considered to be agricultural, and it is not actively farmed, it is assessed according to market value and not by productivity guidelines.

Subclass 3
This class includes utility, industrial, commercial and railroad property, as well any other real estate that does not fit either of the other 2 classes. Includes mines, stores, factories, and property of non-profit corporations.

Show All Answers

1. What are assessment and reassessment?
2. How often is property reassessed?
3. What happens in the even year?
4. Is all property taxed?
5. Why is reassessment necessary?
6. Who is responsible for reassessing property?
7. What are the Assessor's qualifications?
8. What is market value?
9. How is my assessment level established?
10. How are the real estate classifications determined?
11. How does the assessor value my real property?
12. Will all property values change due to reassessment?
13. How does reassessment affect my taxes?
14. Will I be notified if there is an increase in my assessment?
15. What if I disagree with my assessment?
16. If no improvements have been made to my property, why should the assessed value increase?
17. What if I disagree with my assessment?