County Assessor FAQ
What are the duties of the assessor?
What does the assessor not do?
What is the difference between assessed value and appraised value?
Why does my value(s) change?
What do I do if I don’t agree with the value?
Important dates for assessment.
What is the total assessed value of the county?
To discover and value, per State Statute, all taxable Personal and Real Property in the county, annually, and to strive for uniformity of assessments which assures property owners equitable treatment, and to do so in a friendly, respectful manner.
The assessor does not collect taxes.
The assessor does not set tax rates. (Local taxing district’s Board of Directors sets the levy, by law, which is the reason your tax bill is determined. The assessor establishes value, not taxes!)
Assessed value is a percentage reduction, per Statute, from the full appraised value. Think of full appraised value as 100% of the value of the property. Under Missouri Laws, Residential property is assessed at 19% of fair market value (the price a willing seller and buyer agree upon, with no undue stress or obligation to buy or sell the property in a reasonable timeframe, neither party is related to the other, also known as an arms-length transaction). Commercial property is assessed at 32% of fair market value, and, agricultural property is assessed at 12% of a productive value table designed by the State Tax Commission. Personal Property generally is 33 1/3% of average trade-in per N.A.D.A. for passenger vehicles and light trucks, while trailers, heavy equipment, office equipment, etc.. are also assessed at the 33 1/3%. Some items, like manufactured homes, are at 19% if not used as an office, while farm machinery is at 12%, historic vehicles are at 5%, and grain is at 1/2 of 1%.
In Personal Property, generally, the items have a shorter life span and are replaced more often than Real Estate improvements, so, a faster depreciation is given to the short lived items, which usually results in a lower value, annually, however, many people acquire newer, more expensive items which can increase the total assessment from a previous year.
In Real Estate, improvements that are maintained in average condition may see an increase in re-assessment years( every two years in Missouri) due to market conditions. Real Estate has typically been known as a hedge against inflation. Re-assessment periodically keeps the values more in line with current market conditions. Many houses built within the last 30 years will normally sell for quite a bit more money than when originally purchased! Assessors all across the State are required by Statutes to re-assess all real property every odd year, and these laws were approved by a vote of the people.
First, contact the assessor’s office for any explanation in a change of value. If you are not fully satisfied with the explanation, you may make an appointment with the local Board of Equalization (BOE) through the county clerk’s office (660-277-4717). Generally, appointments must be made in advance of the actual date the BOE convenes. By Statute, in Third Class Counties (includes Randolph) the BOE may convene on or after the second Monday in July. If you are not satisfied with the BOE decision, you may appeal to the State Tax Commission (573-751-2414) before September 30 of the current year.
Personal Property assessment forms to be returned to the assessor’s office before March 1, listing all taxable items under your ownership or control as of January 1.
After March 1, a second assessment form will be mailed to the non-returned listings.
Failure to respond to the second notice may result in a late fee for lists received after April 30. ($10.00 for each 1,000 assessed, up to a total of $100.00)
June 30, Third Class county assessors to certify the completed assessment roll to the county clerk.
Second Monday in July, BOE convenes.
Second Monday in August, BOE may reconvene to hear appeals from BOE increases.
September 1, taxing districts to report their budgeted levies to the county clerk for certification.
December 31, last day to pay all property taxes due, to the county collector, to avoid penalty and interest charges.
For year 2009, all locally assessed Real Property totalled $279,412,990
For year 2009, all locally assessed Personal Property was $ 81,809,770
2009 Grand total locally assessed is $361,222,760
In addition to local assessments, the State Tax Commission values certain utility property.
For year 2009, the State assessed values totalled $48,932,128
Overall total assessed value for 2009 for Randolph County is $410,154,888
Total Parcel count exceeds 14,000
Total Personal Property accounts are over 12,000.