By now, many Missouri real property tax value adjustments have been mailed. Missouri reassesses property tax values in odd years. Those reassessments are subject to potential changes from asset acquisitions made in even years. Although your taxes may not have increased substantially, it’s a best practice to review your property values annually to stop an upward spiral that can start with one unreasonable value increase and be compounded by the next.
As others review and obtain adjustments, overstated values bear an ever-increasing portion of the tax burden. Are you considering acquisition or divestiture? Since property taxes are a part of due diligence, it’s a great time to address and review property values.
It’s worthwhile to check your appraised value to ensure the value of your property wasn’t inadvertently overstated. It happens more than you might think. Due to the volume of properties to reassess, Assessors must use mass appraisal techniques that don’t account for specific issues related to individual properties. Although mass appraisals can be accurate, values are overstated in many cases.
What Should You Do?
If you think your property was overvalued as of January 1, 2025, here’s what we recommend:
1. Talk to the Assessor Informally First
- Provide documentation that supports your case:
- Insurance damage reports
- Photos or walkthroughs
- Comparable property sales
- Independent appraisal reports
The Assessor might revise the value based on what you show them.
2. Appeal to the County Board of Equalization (BOE)
- If informal talks don’t work, you must file with the BOE by July 14, 2025.
- Bring proof — they won’t adjust the value without it.
- Note: While the BOE is independent, it’s still part of your county’s tax system.
- If you don’t appeal to the BOE, you can’t escalate your case later.
3. Appeal to the Missouri State Tax Commission
- If you’re not satisfied with the BOE’s decision, appeal to the state.
- Deadline: September 30, 2025, or 30 days after BOE’s decision, whichever is later.
- Important:
- Businesses (except sole proprietors) must hire an attorney.
- For commercial properties, an appraisal is required.
Although we are highlighting Missouri, these general suggestions relate to other states/jurisdictions, as well. Please note: appeal deadlines and processes vary by state/ jurisdiction.
The above is mainly dedicated to real property, such as land, buildings, and land and/or building improvements. However, Assessors determine the appraised value – fair market value – of personal property, as well. Although depreciation rates are difficult to challenge, all forms of depreciation aren’t always included within these rates. Nonetheless, Missouri has advantageous MACRS depreciation compared to many other states/jurisdictions.
Anders State and Local Tax advisors are experienced in working with state and local tax authorities to address values, prepare appeals, and/or assist our clients in these matters, as desired. We would welcome the opportunity to discuss these matters with you. Learn more about our state and local tax services, and the associated fees, by requesting a meeting below.
