The Assessor mails assessment forms in January of each year. It is your responsibility to send a completed form to the Assessor by March 1, listing all the taxable personal property you own as of January 1. If your form is late, the Assessor is required to send a second notice before April 1 allowing you until May 1 to return the assessment without a late assessment penalty. Assessment lists not postmarked or received by May 1 will be penalized as required by Section 137.280 Revised Statutes of Missouri and those penalties range from $15 to $105, depending on the amount of personal property valuation involved.

Fill out Personal Property Assessment On Line

Yes, If you do not fill out your assessment list every year, you may be charged a late penalty for not filing your assessment list and you would have to pay late fees to the collector's office when paying late.

Please save yourself money two ways by returning your assessment by March 1, the Assessor's Office will not need to send a second notice and you will be assured of no late assessment penalty.

If you are a new resident of Pemiscot County or will be as of January 1, be sure and notify the personal property division for a personal property list at 573-333-1390.

The Assessor is charged with placing a fair market value on property as of the tax date for the purpose of calculating taxes. The property tax in Missouri is "ad valorem" - meaning the taxes are based on the property value. The Assessor has no jurisdiction or responsibility for taxing jurisdiction budgets or establishing the tax rate.

Your tax bill is comprised of three key components:

1. Assessment authority
2. Taxing authorities
3. Collection authority

The assessment authority (Assessor's Office) is responsible for establishing the fair market value of all property within Pemiscot County as of the tax date. This assures the tax burden is distributed fairly among those responsible for payment. The taxing
authorities (school, city, fire district, etc.) establish the tax rate based on the budgetary requirements needed to appropriately fund the services provided within their jurisdiction. The collection authority (Collector's Office) is responsible for collecting the amount of tax assigned to each property owner.

The tax rate is a levy determined by each taxing jurisdiction (school district, fire district, etc.) that will yield enough money to fund their services budgeted for that fiscal year. That levy is applied to each $100 of assessed value. These rates are to be established within statutory guidelines.

The County Assessor is not responsible for establishing the tax rate for any taxing jurisdiction, on the fair market value of your property.

The market value of your property is multiplied by the statutory level of assessment. Residential property is assessed at 19% of market value, agricultural at 12% and commercial and all others at 32%. This assessed value is then multiplied by the tax rate (per $100) for your particular area.

You should first attempt to do your own calculation of what your property is worth. This can be accomplished using recent comparable sales in your area, comparing assessments of similar properties, and reviewing the replacement cost of property in your homeowners insurance (the land is usually not included in the replacement cost). Sales and assessment information is available in the Assessor's Office.

Simply stated, market value is the most probable price in terms of money that a property will bring in an open and competitive market. Not all sales are consummated at market value, but the intent of the Assessor is to estimate the fair market value of each property in Pemiscot County as of tax day as required by law.

No. The value assigned by the Assessor's Office should represent fair market value as of January 1 of the tax year. The only properties not valued at market are agricultural properties which are valued in soil productivity grades.

General economic conditions such as interest rates, inflation rates, supply and demand, and changes in tax laws will influence the value of real estate. As property values change in the marketplace, those changes must be reflected on the assessments. The Assessor does not create the value, but rather interprets the real estate market.

Missouri law requires a reevaluation of property values every two years (each odd year). The purpose of this reassessment is the equalization among taxpayers, as well as adjusting any values, to better reflect current market conditions as of the tax date. New construction is added on an annual basis.

Though the value of your property affects your share of taxes, the actual amount you will pay is not established until the end of September. It will be determined by the budget needs of the taxing jurisdictions (school, city, fire districts, etc.). The taxing jurisdictions decide what services they will provide in the coming year and how much money they will need to provide those services. Once this decision is made, a tax rate is adopted that will generate the needed dollars. This rate is then applied to the individual assessed values and tax bills are generated.

The value of your property is subject to change every two years (excluding new construction) however, your tax rate (established by the taxing jurisdictions) is subject to change annually.

There are three levels to the appeal process:

1. Informal appeals are conducted in June of each year to discuss the value or classification with a member of the Assessor's Office staff.
2. The Board of Equalization meets during July to hear disputes between the taxpayer and the Assessor and to render a decision. The deadline for appealing
   at this level is the second Monday in July.
3. The Missouri State Tax Commission is the next level in the appeal process. You must have appealed to the Board of Equalization in order to appeal at this level. This deadline is September 30th to file the appeal or 30 days following the date
   of the decision of the Board of Equalization.

A legal document such as a quit claim or warranty deed needs to be recorded in the Recorder's Office.

Yes, Property ownership cannot be transferred until the deed is recorded.

Yes

No, a deed is a considered a legal document and should be prepared by a qualified person. (Attorney or Real Estate Title Professional)

You should file an Affidavit of Death containing the description of the property with the Recorder's Office.

The Assessor's Office will accept mailing address changes in person or through the mail. Send address changes to the Assessor's Office, 610 Ward Avenue, Suite 2D, and Caruthersville, Missouri 63830. If you do not receive a tax bill be sure to contact the Assessor and verify the address on the tax roll.