How does reassessment affect my taxes?
It depends. An increase in assessed value does not necessarily equate to an increase in property taxes. Your taxes are calculated by multiplying your assessed value times the combined levies of the taxing entities which levy a tax on the particular property. If levies increase, taxes may increase even if assessed value remains unchanged or decreases. It follows that, if levies decrease, an increase in assessed values may not cause an increase in taxes. One factor which can cause a decrease in levies is a rollback which was discussed in the previous example. Another is a voluntary reduction voted by the governing body.

Tax levies are normally set during September. That means when you receive a notice that your assessment has been increased, it is too early to be able to calculate how the change in assessed value will affect your taxes. You will not know until the rates have been set by all of the local governments that tax your property.

This information is designed to explain the reassessment process in Missouri. It is based on the laws in effect at the time it was written. Nothing here gives anyone any greater rights than they would have by law. If the laws change, the facts and procedures mentioned may also change.

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. If no improvements have been made to my property, why should the assessed value increase?
16. What if I disagree with my assessment?